Gift Planning

Gift Planning

Making a gift to SMC is primarily an act of the heart, satisfying our desire to make a difference in the world.

There are a variety of Planned Gift 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.

Questions About Gift Planning?

Don Tate
Director of Development
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Planned Gift Options

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

Charitable Gift Annuities

” The generous will be blessed.” — from Proverbs 22:9

A way to take care of your financial future…as you give to others.

  • A new source of lifetime income, some of it tax-free
  • Guaranteed security and high return
  • A charitable income tax deduction that you can take this year
  • A partial savings on capital gains tax if you give appreciated stock or other assets
  • Reduced estate taxes and probate costs
  • A larger charitable gift than you may have thought you could afford.

Our Charitable Gift Annuities give you a way to provide for your own- and your family’s – financial future with a dependable, guaranteed lifetime income. Charitable Gift Annuities typically enjoy a higher rate of return than most conservative investments. And a Charitable Gift Annuity is never subject to market fluctuations. You’ll know exactly what you will receive. Plus, part of your income can be tax-free!

Gift Annuities offer you significant benefits.  Here’s how our Gift Annuity Program works:

In exchange for your gift of cash, appreciated stock or other assets, we’ll give you an annuity contract which guarantees you a fixed income for the rest of your life or the lives of both you and your spouse (or another beneficiary you designate).


When you fund a Gift Annuity with appreciated stock or other assets (before the sale), current tax law allows you to avoid much of the capital gains tax you would pay if you sold the asset yourself. In addition, any remaining capital gain that you incur is spread over the remaining years of your life, thereby reducing today’s tax liability. Your annuity payment is based on the value of the stock or other assets on the day you transfer ownership to us.
An important distinction between a Charitable Gift Annuity and a commercial annuity is that a Charitable Gift Annuity assumes that at the end of your life (lives) a minimum of 50% of your original contribution will be available as a charitable gift to support our mission.

As a result, the IRS allows a portion of every dollar that you contribute today to be income tax deductible this year.

The assets you use to create your Gift Annuity with us are no longer considered property in your taxable estate. Therefore, whatever you put into the Gift Annuity will not be subject to estate taxes or probate.
Most of us make charitable gifts from our income each year and consequently are limited in how large a gift we can afford to make. Many people dream of making a major gift, but simply cannot afford it out of their income resources. Our Charitable Gift Annuity enables our donors to make gifts of their assets, rather than their income. And, since they receive an increased income as a result, they are able to improve their standard of living while giving the major gift they have always dreamed of.
A portion of each of your annuity payments is “return of principal” and therefore is not taxed as income to you…it is essentially “tax-free!” This unique feature serves as a multiplier for your return rate and gives you an even larger “effective rate of return” than the published rates.