Major Gifts and Planned Giving

Planned giving allows you to balance your financial needs, and those of your loved ones, with your commitment to advancing the mission of Nassau Community College and the Nassau Community College Foundation.  We have several attractive options for planned giving.

Bequests

We encourage you to make a bequest to the Foundation in your will and trust(s) after speaking with your attorney.

Charitable Gift Annuities (Income-producing Gifts)

When you make an irrevocable gift of cash, stock or securities to the Foundation, the Foundation provides you with a guaranteed fixed income for life.

This charitable gift annuity enables you to:

• Increase your income
• Receive an immediate charitable income tax reduction
• Save on future taxes
• Avoid some capital gains taxes
• Avoid probate cost and estate taxes

Charitable Remainder Trust

When you name the Foundation as a beneficiary of a Charitable Remainder Trust, the trust pays an annual amount to one or more people you designate for a fixed period of years. The Foundation receives the remaining trust assets at the end of the term of the trust. Such deferred commitments will not be recorded as gifts until such time that the gift is irrevocable. As the gift will not be received by the Foundation until an undetermined time in the future, the gift will be recorded at the present value at the time the gift becomes irrevocable.

Life Insurance

The Foundation must be named as both beneficiary and irrevocable owner of a life insurance policy before it can be recorded as a gift. The gift is valued at its interpolated terminal reserve value, or cash surrender value, upon receipt. If you contribute future premium payments, the Foundation will include the entire amount of these additional payments as a gift in the year that they are made.

Life Insurance Beneficiary Designation

You are encouraged to name the Foundation as beneficiary or contingent beneficiary of your life insurance policies. Such designations shall not be recorded as gifts to the Foundation until such time as the gift is irrevocable. Where the gift is irrevocable, but is not due until a future date, the present value of that gift may be recorded at the time the gift becomes irrevocable.

Retirement Plan Beneficiary Designations

You are encouraged to name the Foundation as beneficiary of your retirement plans. Such designations will not be recorded as gifts to the Foundation until such time as the gift is irrevocable. When the gift is irrevocable, but is not due until a future date, the present value for that gift may be recorded at the time the gift becomes irrevocable.

Donor Advised Funds

If you have already established a donor-advised fund and would like to recommend a grant or distribution for Nassau Community College Foundation, the check should be made payable to Nassau Community College Foundation and mailed to the following address:

Nassau Community College Foundation
364 Rice Circle
Garden City, NY 11530