The Community College of Denver Foundation Nineteen Sixty-Seven Legacy Society
The Community College of Denver Foundation created the Nineteen Sixty-Seven Legacy Society to honor and thank those who remember CCD with a gift in their estate plans, past, current and future. A legacy gift is an opportunity to fulfill a personal passion while leaving a transformational gift that will change lives.
There are many ways to make a legacy gift. Some have named the CCD Foundation to receive a future gift in their will or living trust, while others have named the Foundation as a future beneficiary of a life insurance policy, IRA or charitable trust.
Most people need to preserve full control over their assets during life, protecting against future uncertainties and prioritizing loved ones first. Others may choose to maximize tax and financial benefits that could result from their philanthropy. There is tremendous flexibility to accomplish both personal and philanthropic goals in an estate plan.
Every estate gift, large or small, helps strengthen CCD in permanent ways. To learn more, please explore the menu below. Also, feel free to contact Shelley Banker. All inquiries are held in strict confidence and there is never an expectation or obligation to complete a gift.
Your Gift, Your Impact
An estate gift can establish an endowed scholarship, grow an existing scholarship endowment, provide permanent support for an educational program, or meet other urgent needs. The donor defines the impact they want to make.
- Named Endowed Scholarship Fund | Permanent support for deserving students
- Named Endowed Program Fund | Permanent support for an academic program of choice
- General Endowment | Funds permanently invested to provide recurring operating income for the Foundation and/or the College
- General Support | Funds to support areas of greatest need
If you would like to explore the ways in which a future gift could impact CCD and its students, please contact Shelley Bankers, Executive Director of the CCD Foundation.
Ways to Give | A Variety of Options Exist
There are many ways to support CCD and its students with an estate gift that balances planning for family and loved ones with a chance to give back. The following provides a brief introduction:
- Charitable Bequest – By naming theCCD Foundation in your Will or Living Trust, a gift is created and recognized today that will be received after the estate is settled.
- IRA or Retirement Plan – Name the CCD Foundation as a beneficiary of an IRA or workplace retirement plan. Simply request a “beneficiary change” form from the IRA custodian or Human Resources department, complete the form, and then return it according to their instructions. Beneficiary change forms are often available online.
- Life Insurance – Name the CCD Foundation as the beneficiary of a new or existing life insurance policy. Simply request a “beneficiary change” form from the life insurance company, complete the form, and return it according to the instructions provided. Again, most companies make beneficiary change forms available online.
- Charitable Gift Annuity – A gift annuity is a simple contract in which the CCD Foundation agrees to pay the donor (or another person) an income for life, in exchange for a gift made today.
- Charitable Remainder Trust – In the right situations, a charitable remainder trust can provide powerful financial, tax, and estate planning benefits. The donation of assets into a trust can be designated to the eventual benefit of the CCD Foundation. In the interim, the trust pays income to the donor or other designated income beneficiaries.
- Charitable Lead Trust – A charitable lead trust can provide support for the CCD Foundation while transferring assets in the future to heirs while paying little or no gift or estate taxes.
- Retained Life Estate – Donate future ownership of a residence to the CCD Foundation, while retaining the right to live there until residents are deceased.
Any of these estate gifts could make a significant impact at the College and its students, and the Foundation is eager to honor your commitment through membership in the CCD Foundation Nineteen Sixty-Seven Legacy Society.
For more information about any of these options, please contact Shelley Banker. All inquiries are held in confidence. There is never an obligation to complete any gift.
The future is uncertain. However, a planned gift can be created today while simultaneously retaining control over these assets for the balance of one’s life. These gifts are called revocable gifts. The donor has total control and can change their mind if circumstances change. Unless donors are confident that they will not outlive their assets, a revocable estate gift is almost always the best option. These gifts are generally one of the following:
- Bequest in a Will or Living Trust
- Beneficiary Designation in IRA or Retirement Plan
- Beneficiary Designation in Life Insurance Policy
- Pay-on-Death (POD) arrangement for a bank account
By naming the CCD Foundation in a will, living trust, or as a beneficiary, the donor will be protected against an uncertain future. Should these assets ever be needed, they are always available. If not, the gift will come to CCD exactly as desired.
For more information, please contact Shelley Banker. All inquiries are held in confidence and there is never an expectation or obligation to complete any gift.
Maximum Tax Benefits
Revocable vs. Irrevocable Gifts
The IRS provides important tax incentives to encourage support for charitable organizations. To qualify for any given tax benefit, a gift typically must be irrevocable. Stated another way, a gift must be complete and not one a donor could ‘reclaim’ in any way.
Clearly, an irrevocable gift should only be made after proper reflection and consultation with legal and financial advisors. However, with proper planning, such gifts can provide important income and tax benefits for donors and their heirs.
Examples of these gifts include Charitable Remainder Trusts, Charitable Lead Trusts and Charitable Gift Annuities.
The CCD Foundation can help you explore the benefits that may result from an irrevocable planned gift. For more information, please contact Shelley Banker. All inquiries are held in strict confidence and there is never an expectation or obligation to complete any gift.
The Mel Carter Art Scholarship and Program Endowment
In 1999, a beloved CCD art professor, Mel Carter, who had spent 30 years at CCD, passed away, leaving $30,000 to establish an endowment for the art department. In the years since, multiple students benefitted by receiving scholarships and awards for their artwork. The Mel Carter Art Scholarship and Program Endowment will continue to provide resources for CCD’s art department and student artists in perpetuity. For his generosity and vision for the future, the CCD Foundation is proud to induct Mel Carter into the Nineteen Sixty-Seven Legacy Society.
The Laura Wierman Estate Bequest
In August 2019, Laura Wierman passed away and since she had no living heirs, she left her estate to her favorite charities. The CCD Foundation was honored to receive one-third of Laura’s estate – nearly $200,000. Ms. Wierman had never visited CCD, but she was inspired by her friend, Francie Anhut, who shared her personal passion for community college students with her. This unrestricted bequest is funding endowment, student scholarships, and other urgent needs. For her generosity and vision for the future, the CCD Foundation is proud to induct Laura Wierman into The Nineteen Sixty-Seven Legacy Society.
The Mrs. James Williams Estate Bequest
In August 2020, Mrs. James Williams notified the CCD Foundation of her intent to designate the College in her estate plan through designation as a beneficiary of an annuity. The bequest is designated primarily for students studying accounting, advanced mechanical engineering, and mechanical and building trades. Mrs. Williams and her husband, James, served on the CCD Foundation Board for about five years, from 2012 to 2017. For her generosity and vision for the future, the CCD Foundation is proud to induct Mrs. James Williams into the Nineteen Sixty-Seven Legacy Society.
Watch this space for new Nineteen Sixty-Seven Legacy Society stories!
For more information about the Nineteen Sixty-Seven Legacy Society, please contact Shelley Banker.
Information for Advisors
It is always appropriate to consult with professional advisors when considering an estate gift. The following information can help advisors facilitate any gift a donor might wish to make:
Legal Name: The Community College of Denver Foundation
Address: 1111 E. Colfax Ave. Denver CO, 80204
The CCD Foundation gratefully accepts gifts of publically traded securities. In general, donating securities in appreciated positions will help maximize an individual’s tax benefit, as the associated charitable income tax deduction is typically based on the full fair market value of the security. No capital gains tax would be payable by the donor or the CCD Foundation.
For more information about gifts of securities or to request brokerage information for CCD, please contact Shelley Banker.
Recommended Language for Bequests and Testamentary Gifts:
Sample language for a specific bequest to the Community College of Denver Foundation through a will or living trust:
“I give to the Community College of Denver Foundation, 1111 W. Colfax Ave. Denver, CO 80204, a Colorado non-profit corporation, the sum of $_______ [or ______% of my estate; or the property described herein], for its general purposes.”
Sample language for a residuary bequest to the Community College of Denver Foundation is:
“I give to the Community College of Denver Foundation, 1111 W. Colfax Ave. Denver, CO 80204, a Colorado non-profit corporation, all [or ____%] of the rest, residue, and the remainder of my estate, both real and personal, for its general purposes.”
A person wishing to support the Community College of Denver Foundation through a retirement plan, IRA, or life insurance policy, should request a Beneficiary Change Form from his/her company or plan administrator. Beneficiary Change forms are typically available online. Please indicate the desired gift amount or percentage and return/submit the completed form.
The Community College of Denver Foundation also encourages estate gifts through other arrangements, including Charitable Remainder and Charitable Lead Trusts. However, the Community College of Denver Foundation prefers not to serve as Trustee for these gifts.
Purpose of Gift
Donors who make estate or outright gifts may designate their gift for a specific purpose. Examples include:
- Endowed Scholarship Fund – Create a named endowed scholarship to support a student
- Endowed Program Fund – Named fund to permanently support an academic program of choice
- General Endowment – Funds are permanently invested to provide recurring income the College
- General Mission – Gift utilized to support area(s) of greatest need
The minimum to establish a named endowment fund is $10,000. As highlighted above, a Named Endowed Fund could fund student scholarships or support an academic program of choice. These funds are named to honor the donor and/or family, or any other loved one(s).
Please contact Shelley Banker for more information about these options.
The Community College of Denver Foundation created the Nineteen Sixty-Seven Legacy Society to honor and recognize those who remember CCD is their estate plan. This provides the Foundation with a way to thank them during that person’s life.
The CCD Foundation also recognizes that some donors prefer to remain anonymous regarding a future estate gift. The Foundation will honor and respect these wishes in full. In addition, we also seek the opportunity to share our gratitude for an estate gift whenever possible.
In some cases, a client may allow an advisor to share his/her name with the College. In others, an advisor can play a helpful role in forwarding a ‘Thank You’ letter to a client, while still preserving client anonymity.
Community College of Denver welcomes guidance from financial advisors or family members about the best way to express gratitude. The Community College of Denver Foundation places great importance on thanking people for their confidence and generosity, while also respecting their wishes for anonymity in every instance.
For more information on the Nineteen Sixty-Seven Legacy Society, please contact Shelley Banker.