Planned Giving

For More Information on Planned Giving, click Here.

The Heidelberg Heritage Society

Those who include Heidelberg in their estate plans and communicate that information to the College are enrolled in the Heidelberg Heritage Society. Such plans may include a bequest, annuity or life income agreement.

Bequests

Bequests can be made designating a certain dollar amount or a percentage of the residue of an estate to pass to Heidelberg College at death in honor of (or in memory of) your loved one, or for any purpose you may choose. The primary financial benefit of gifts made by will is a reduction in estate taxes along with the satisfaction of making a significant contribution to the future strength and well being of the College.

Charitable Gift Annuity

A charitable gift annuity is a simple contractual agreement between a donor and Heidelberg College in which you transfer assets to the College in exchange for a promise to pay one or two annuitants payments for life.

By donating through a gift annuity, you: 1) contract for a fixed payment for yourself or yourself and another individual, if you choose, and 2) make a gift to Heidelberg. If you itemize deductions on your tax return, savings from the charitable deduction reduce the net cost of the gift.

An annuity funded with appreciated property results in these additional advantages: 1) the gain allocated to the gift portion completely avoids the capital gains tax, and 2) the portion of gain to be recognized can be spread over the expected term of the contract (provided that the donor is a primary annuitant and the annuity interest is assignable only to the charitable organization).

With a deferred payment gift annuity, the start of payments is delayed until a specific date, initially determined by the donor.

Life Estate Gifts

A home can become a valued gift to Heidelberg College even while you are still living in it and even if you want your spouse or other person to live there for life. This arrangement is called a retained life estate.

By deeding your home to Heidelberg, you can obtain a sizable income tax deduction this year. The amount depends on the value of the property and your age (and the age of any person given life use). In addition, you retain the right to rent your home or make improvements to it. You continue to have responsibility for maintenance, insurance and property taxes.

Any personal residence qualifies for this tax deduction – a farm (with or without the house), vacation home, condominium, even stock in a cooperative housing corporation. Your gift to us must be an irrevocable remainder interest. In other words, after your life use and that of any survivor, Heidelberg receives the property outright.

Trusts and Gifts of Life Insurance

Planned giving opportunities abound and are advantageous to both the donor and the College. They range from wills to trusts to life insurance policies. They are recognized annually in the annual Donor Recognition Report. Please contact the College for further information on how you can make a gift and receive income for life.