Cash and Gift Pledge
The advantage of this method is that the actual cost of the gift (to you) is less than the total dollar amount given to the Trinidad State Junior College Educational Foundation. You can deduct up to 60 percent of your adjusted gross income in the year you make the gift. Any excess over 60 percent can be deducted over the next five years. (Future cash pledges should be made either in writing or by means of a pledge card. Pledges cannot be claimed until the gift is made.)
Check to see if your employer (or spouse’s employer) matches employee donations to qualified nonprofit organizations like the Trinidad State Junior College Educational Foundation. Some matching programs even double or triple employee gifts.
Stocks and Bonds
A gift of long-term appreciated securities – stocks, bonds, mutual fund shares – are excellent options to consider when making a gift to Trinidad State Junior College Educational Foundation. They offer tax advantages that may not exist when donating cash: (1) reduce or even eliminate federal capital gains taxes on the transfer and (2) provides a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
You can give private, commercial or agricultural property to the Trinidad State Junior College Educational Foundation. If your property has decreased in value, you could consider selling it and contributing the proceeds to receive both capital loss and charitable gift deductions. We prefer that you contact us during the early stages of your planning so we can jointly decide the best use of the property by the Foundation.
Trinidad State Junior College Educational Foundation accepts equipment that can be of some use by the College or can be quickly sold. It is best to contact the Foundation Office before making such a gift. You also must obtain an appraisal for equipment contributions over $5,000 from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.
This includes works of art, rare books, antiques and vehicles, among others. Your treasures can make suitable charitable gifts today or after your lifetime. The financial benefits of the gift depend on whether we can use the property in a way that is related to our mission. Related use property—e.g., a piece of artwork donated to an art museum—is deductible at the full fair market value. Any other property is deemed nonrelated use property and the deduction would be limited to the lesser of fair market value or your tax basis in the property. If the federal income tax charitable deduction claimed for a gift of tangible personal property exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.
We prefer that you contact us during the early stages of your planning so we can jointly decide the best use of the property by the Foundation. The final decision to keep or sell the property rests with the Foundation’s Board of Directors.
Society of 1925
This society’s name is especially fitting since 1925 marks the date of the founding of Trinidad State Junior College. In addition to the cumulative giving societies, The Society of 1925 has been established to honor and recognize donors who choose to support TSJC through their will planning or with other deferred gifts. Donors who document the Trinidad State Junior College Educational Foundation as the owner and beneficiary of a life insurance policy qualify for membership in the Society of 1925.