Your support of Pennsylvania College of Technology is an investment in the future.
Whether you are single, married, raising a family, planning or enjoying your retirement years ... your future, and the future of those you care most about, will be a reflection of the plans you make today.
The best estate and financial plans balance what you wish to accomplish for yourself, your family, and your charitable interests. These brief, easy-to-use, planning ideas can help you reach your goals.
There are a variety of ways to make a bequest to Penn College. You may give a specific dollar amount, a percentage of the remainder of your estate (or trust assets), or a contingent bequest (paid only if a named person does not survive you). It is also possible to give an asset, such as art or real estate.
Gift Annuity Agreements
Under this plan, you may make a gift to Penn College and receive annuity payments for life (with a payment amount based on your age when the gift is made). You may have an income tax deduction for a portion of the gift and, for some years, only part of the payments will be taxed as income. If you give property that has risen in value, capital gains are reported over your life expectancy. An annuity gift also may reduce your taxable estate.
Life Insurance, IRA's and Retirement Plans
These can be excellent ways to "leverage" your charitable gift, while reducing the effect of taxes on your assets passing to loved ones. The gift of a life insurance policy will permit you to claim an income tax deduction for the amount you have paid on the policy and the policy proceeds will be excluded from your estate. Making Penn College the beneficiary of an IRA, profit sharing, or other qualified retirement plan can eliminate two levels of tax. This "qualified" money, if left to a family member, can be subject to both income and estate taxes. If left to Penn College, the gift avoids both income and estate taxes.
Penn College is not engaged in providing legal or tax advisory services. The information provided here is of a general character only. For advice and assistance in specific cases, you should enlist the services of an attorney or other professional tax or financial adviser(s).
The Pennsylvania College of Technology Foundation, Inc. and Pennsylvania College of Technology are non-profit 501(C)(3) tax exempt organizations.