Gifts
There are many ways to make a gift to the Kilgore College Foundation. The most common is a cash gift, but other options can also represent significant tax savings to the donor. All gifts to the Kilgore College Foundation are acknowledged with a thank you letter which also serves as a tax deduction receipt.
Send your check or money order made payable to the Kilgore College Foundation:
Kilgore College Foundation
1100 Broadway
Kilgore, TX 75662
Other areas you may be interested in include:
Gifts of Securities
The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield. Even if it is stock you wish to keep in your portfolio, by giving us the stock and using cash to buy the same stock through your broker, you will have received the same income tax deduction but will have a new, higher basis in the stock.
Retirement Plan Assets
Did you know that nearly half of your retirement plan assets can be eaten away by taxes at your death? Learn how to preserve more of your estate for the people and organizations that matter most in your life.
Gifts of Cash
The simpliest way to give. However, you can deduct a cash gift for income tax purposes only in the year in which you contribute it. Your cash gifts are deductible up to 50% of your adjusted gross income for the taxable year, but any excess is deductible over the next five years.
Gifts of Life Insurance
You can donate a life insurance policy to us or simply name us as the beneficiary. For the gift of a paid-up policy, you will receive an income tax deduction equal to the lesser of the cash value of the policy or the total premiums paid. To qualify for the federal charitable contribution deduction on a gift of an existing policy, you must name us as an owner and beneficiary.
Gifts of Real Estate
If you own property that is fully paid off and has appreciated in value, an outright gift may be the simpliest solution. You can deduct the fair market value of your gift, avoid all capital gains taxes and remove that assest from your taxable estate. You can transfer the deed of your home or farm to us now and keep the right to use the property for your lifetime and that of your spouse.
Designated Scholarship Gifts
The Foundation hosts over 65 designated scholarship funds all created for specific purposes or criteria established by the donor. To create a named designated scholarship fund, the Foundation requires a $15,000 corpus. Donors may suggest criteria for their named scholarship fund.
Bequests
You can include the Kilgore College Foundation in your will or trust, including living trusts and chairtable remainder trusts. We recommend this provision be discussed with your attorney and tax advisor. A gift included in your will or living trust can establish a lasting legacy of your lifetime.
Matching Gifts
With matching gifts you can sometimes double or even triple your gift! Many employers sponsor matching gift programs and will match charitable contributions made by their employees. Visit with your employer benefits office to see if your company participates in a program like this, or contact us to see if we have additional information about your employer.
Honor/Memorial Tribute Gifts
A gift to the Kilgore College Foundation is a meaningful, special way to honor a friend or loved one (birthdays, anniversaries, retirement or other special occasion). Honor or memorial gifts can be contributed to the area of greatest need, or be designated to an established program or scholarship. All gifts are acknowledged to the donor and the person being honored. Acknowledgements are sent to the family when memorial gifts are made.
Program Support
If you have a particular area of interest at Kilgore College, a gift from you can help a specific program or field of study with their needs. A piece of equipment or additional training or supplies can benefit students in that progam for years to come.
Employee Payroll Deductions
Payroll deduction is a great way to give back to your place of employment. If you are a full-time employee of Kilgore College you can choose to donate one hour's pay or a specific amount each month.
Tax Exempt Status
A tax exempt 501c (3) nonprofit organization, the Kilgore College Foundation mobilizes public and private support for student scholarships and educational programs. Contributions to the Kilgore College Foundation are tax deductible to the full extent of the law.
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