Eagle Legacy Society

Planned Giving Program

Eagle Legacy Society - Planned Giving

Bequests - Providing for Tallahassee Community College in your will

The Eagle Legacy Society
Recognizing those who are committed to creating a better future for students at Tallahassee Community College

Including a bequest to Tallahassee Community College in your will or trust is the easiest way to make sure that the things you value most about TCC will endure and flourish in the future.

With a bequest you can make a significant gift without affecting your current income or cash flow. You have the ability to direct your bequest to a specific program or purpose. You may also save taxes by receiving a charitable estate tax deduction. Best of all, you have the satisfaction of ensuring that future generations will benefit from your generosity.

To illustrate how easy it is, here is some sample bequest language*:

“I give (__dollars or a specific asset) or (___percent of the rest, residue, and remainder of my estate) to Tallahassee Community College located in Tallahassee, Florida to be used for (general purposes) or (state specific purpose).”

Talk with your attorney today. Please let us know when you have completed your plan. We would like to welcome you to the Eagle Legacy Society.

*Always consult with your attorney before proceeding.

Retirement Plans - Give a gift from your IRA

The Eagle Legacy Society
Leave a legacy of excellence to Tallahassee Community College

When you leave your traditional IRA, 401k, 403b or other qualified retirement plant to your heirs, the assets are potentially subject to multiple taxes, including federal income tax, federal estate tax, and state inheritance tax. If you are in a taxable estate bracket, the combined taxes could be 65% or more of the balance in your plan, leaving little for your heirs.

Make TCC the beneficiary of your retirement plan and leave other less tax-burdened assets to your heirs.

How? It is easy. Just fill out a Change of Beneficiary Form, available from your plan provider. TCC will receive any remaining assets tax free.

Good for you. Good for Tallahassee Community College.

Life Insurance - Use your life insurance to make a difference

The Eagle Legacy Society
You may have a hidden asset that can make a significant difference to TCC

If you are maintaining life insurance coverage that you and your family no longer need, you might want to consider donating your policy to Tallahassee Community College. If you make Tallahassee Community College the owner and beneficiary of your policy, you will receive an immediate income tax deduction for the current value of the policy. You will also provide a substantial gift to TCC without affecting your investment portfolio or cash flow.

Another great way to make a gift to TCC with your life insurance policy is to make TCC a designated beneficiary of your policy. When your insurance reaches maturity, TCC will receive the amount or proportion you designate. You can change your designation at any time, giving you the flexibility to revise your gift for any reason.

It is very easy to make TCC a designated beneficiary of your life insurance policy. Simply contact your insurance agent to make a change on your policy’s designation form.

Charitable Gift Annuities

Generate lifetime income by making a gift to TCC

You can reach your philanthropic goals and maintain financial security. One gift that allows you to support Tallahassee Community College while receiving fixed payments for life is a charitable gift annuity.

Not only does this gift provide you with regular payments and supports student success, but when you create a charitable gift annuity with the TCC Foundation you can receive a variety of tax benefits, including a federal income tax charitable deduction.

Charitable Remainder Trusts

A gift that benefits you as well as TCC

Looking for a way to give a significant gift to Tallahassee Community College? If you have built up a sizeable estate and would like to receive reliable payments, you may want to consider a charitable remainder trust.

Benefits of a charitable remainder trust include:

  • A partial charitable income tax deduction
  • Potential for increased income
  • Up-front capital gains tax avoidance

There are two ways to receive payments with charitable remainder trusts:

The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.

The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.