Gift Planning

Making a gift to SMC is primarily an act of the heart. Giving satisfies our desire to make a difference in the world. Managing our resources wisely helps us have more so that we may give more. This is an act of the mind. A carefully constructed financial plan can provide a more stable future for ourselves as well as for those things we care about.

The Office of Gift Planning offers a wide variety of options to consider as you explore ways to manage the resources that make up your financial and estate plans. Each person's circumstances are unique. Consult your financial, tax or legal advisor for the best way that any of these options may apply to your particular situation. We will gladly work with you and your representative(s) to develop an estate plan that meets both your heart's desire and your mind's design. Some of the options that you may include:

Don Tate
Director of Development

Email: tated@smcsc.edu
Phone: (864) 587-4227

 

• CASH
  Gifts of cash can be fully tax deductible- up to a maximum of 50% of adjusted gross income in the year of the gift. Amounts given in excess of this maximum generally may be carried forward and deducted over as many as five years. While giving cash is perhaps the simplest giving option, there are other options that may provide greater benefit to you as well as enable you to make a larger gift to the College.

• APPRECIATED ASSETS
  Donating appreciated assets, such as stock or real estate, offers a two fold tax advantage: First, you may receive a tax deduction for the full fair market value of the property or stock at the time of the gift. Second, you avoid paying capital gains tax on the increase in the value of the asset.

• LIFE INSURANCE
  Gifts of life insurance offer significant charitable deductions while making a tremendous impact on the future of SMC. You may purchase a new policy or donate a policy that you may already own but no longer need. A tax deduction is allowed when you make the College both owner and beneficiary of the policy. While designating SMC beneficiary of a policy that you continue to own offers no tax benefits, it will insure that your generosity to the College will continue beyond your death. Life insurance, as a part of a comprehensive estate plan, can provide excellent wealth protection and replacement. Consult your insurance agent for more details.

• LIFE INCOME GIFTS
  Some gifts pay annual income to the donor and/or the donor's heirs. Some examples include Charitable Gift Annuities and Charitable Remainder Trusts and Charitable Lead Trusts. These instruments also offer very attractive tax benefits.

• WILL BEQUESTS
  This legal document enables you to make gifts to the College as a part of the distribution of your assets after your death.

• TAKING ACTION
  Opportunities for giving to SMC are many and varied. For more information on ways to maximize the impact of your gifts to the important work of the College, please contact Don Tate, Director of Development, at (864)587-4295 or e-mail tated@smcsc.edu. Or you may complete and submit the Gift Planning Form.