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Planned Giving

Pillar Society members Charlene Pulizzi and Dr. Clarence Burgher have included Penn College in their long-term giving plans.

A planned, tax-advantaged gift to Pennsylvania College of Technology allows donors to achieve their goals while contributing to students and the College mission.

Individuals who establish a planned gift are recognized with membership in The Pillar Society. During an annual reception in their honor, new members receive a lapel or stick pin patterned after the pillars at the College's main entrance.

Several easy-to-use planning ideas can help donors accomplish their charitable interests and meet their best overall individual/family estate and financial plans. Plans may be tailored as needed. Contact the Institutional Advancement Office for details on any of these options:

Income Tax Considerations

Substantial income tax benefits are available for charitable contributions. For cash and cash equivalent gifts, taxpayers are permitted to deduct gifts to qualified charitable institutions up to fifty percent (50%) of their adjusted gross income.

While most charitable gifts are made in the form of cash, important advantages are possible when gifts are made of non-cash property that has increased in value. Profits from the sale of stocks, bonds, real estate, and other assets will be taxed as capital gains.

One way to avoid substantial capital gains tax is to make a charitable gift of the property, allowing you to take a deduction based on the full value of the property rather than just its cost, subject to certain limitations. Tax savings also will depend on the amount of the increase in value, alternative minimum tax considerations, and other variables.

Federal Gift and Estate Taxes

Through the skillful use of charitable gift plans, it may be possible to reduce the tax cost of passing on property. There is no limit on the amount of property that can be given to charitable institutions. Property in trust can provide income for loved ones for life, before passing to a qualified charitable organization. Property can be passed to loved ones at a greatly reduced tax cost by charitable gifting of income for a period of time, or by using some of the tax benefits of charitable gifts to fund the cost of tax free insurance proceeds needed to "make up" for property donated to Penn College.

The Penn College Institutional Advancement Office is not engaged in providing legal or tax advisory services. This information is of a general character only, and is subject to changes in state and federal tax laws, regulations and interpretations. For advice and assistance in specific cases, you should enlist the services of an attorney or other professional tax or financial advisor(s).