Northeastern Junior College Campus
Northeastern Junior College Foundation

Ways to Give Tomorrow

Legacy gifts from wills, trusts and retirement accounts are crucial investments in the future of Northeastern Junior College, and create a lasting legacy in support of our students. The following ideas represent an overview of your options.

Charitable Bequest – You can include a future gift in your Will or Living Trust, naming Northeastern Junior College Foundation to receive a portion of your estate or a specific asset.  This option is highly flexible—allowing you to provide first for your loved ones as needed, balancing your desire to support the College with other financial responsibilities. 

Beneficiary Designation – You can create a future gift by naming Northeastern Junior College Foundation to receive a portion of your IRA, company retirement plan, or life insurance policy. This option is highly flexible—you determine the appropriate percentages to leave for the College and for your loved ones.  This gift is as simple as updating your named beneficiaries. 

Payable on Death (POD) account – This option allows you to donate a portion of the funds from a bank (or credit union) account to Northeastern Junior College Foundation.  This option is simple, inexpensive, and flexible to changing needs throughout your lifetime.

Transfer on Death (TOD) account – This option allows you to donate a portion of the securities held in a brokerage or investment account to Northeastern Junior College Foundation.  This option is simple, inexpensive, and flexible to changing needs throughout your lifetime.

Charitable Remainder Trust – A charitable remainder trust can provide powerful financial, tax, and estate planning benefits.  You donate assets into a trust for the eventual benefit of the Northeastern Junior College Foundation.  In the interim, the trust pays income to you and/or your designated income beneficiaries. 

Charitable Lead Trust – A charitable lead trust can provide support to Northeastern Junior College Foundation for a defined period of time, before returning the donated assets to you or (more commonly) passing them onto your heirs.  In the right situation, a charitable lead trust can be a powerful income and/or estate planning option. 

Retained Life Estate – You can donate future ownership of a residence or farm to Northeastern Junior College Foundation while retaining full use of your property throughout life.

Final Thoughts

It is always important to discuss your options with your professional advisors before making any charitable estate gifts.  Your advisors are best positioned to help identify the gift strategies that both protect you against future uncertainties and maximize any potential tax benefits.  Please know that our Development Office is happy to support these conversations in any way that is helpful. 

 

Please contact Vivian Hadley at 970-521-6603 or vivian.hadley@njc.org with any questions. 

Thank you for your consideration of these gift options.