Making a charitable gift to Madisonville Community College is an important and personal decision. The satisfaction of giving comes in knowing that you are investing in the lives of individuals, businesses, and organizations that benefit each and every day from the college's history of excellence and service to students. We value your support and are committed to using private gifts wisely.
Only you can decide when and how to contribute to the College. The following information may be helpful as you consider the various ways you can support our endeavors and how you may benefit from tax advantages associated with certain types of charitable gifts. You may also review our endowment areas, including information on the Muhlenberg Campus, to determine the best place to designate a charitable planned gift.
The advantage of giving a cash gift right now is that it has an immediate impact on academic programming. Also, your actual out-of-pocket cost is less than the dollar amount of the gift because of the allowable income tax deduction. You can deduct an amount up to 50% of your adjusted gross income each year that you make a contribution. Any contributions over this percentage may be deducted over the next five years. The savings from the tax deduction of your contribution will vary due to your tax rate and other factors. Generally, the higher your tax rate is, the greater your savings will be.
There are specific types of gifts which you can plan for today that will benefit the college in the future. They also provide a way to leave a lasting legacy that strengthens those priorities you deem most important. These planned gifts include:
Your Living Will One way to make a deferred gift is to include specific language in your will, naming the college as the recipient of a planned gift along with other charities of your choice. The Advancement Office can offer recognition avenues for different levels of deferred giving. Gifts of Life Insurance Life insurance provides an effective way to benefit the college, and is generally easier on your pocketbook. Your gift of life insurance will provide the college with a substantial deferred gift while you pay relatively modest premium payments. A gift of an insurance policy that is paid-up or partially paid-up may be advantageous if your family responsibilities are not as substantial as they were in the past. Generally, life insurance policies with limited cash values can be purchased at a cost which does not exceed $700 annually. Charitable policies must be owned by the College. Retirement Savings Deferred Gifts This might include a specific trust arrangement or estate percentage. *This message is not offered as legal advice. For legal advice, please contact your attorney.
One way to make a deferred gift is to include specific language in your will, naming the college as the recipient of a planned gift along with other charities of your choice. The Advancement Office can offer recognition avenues for different levels of deferred giving.
Life insurance provides an effective way to benefit the college, and is generally easier on your pocketbook. Your gift of life insurance will provide the college with a substantial deferred gift while you pay relatively modest premium payments. A gift of an insurance policy that is paid-up or partially paid-up may be advantageous if your family responsibilities are not as substantial as they were in the past. Generally, life insurance policies with limited cash values can be purchased at a cost which does not exceed $700 annually. Charitable policies must be owned by the College.
This might include a specific trust arrangement or estate percentage.
*This message is not offered as legal advice. For legal advice, please contact your attorney.