Greatest Need
Donations without designation or restrictions will be directed to the areas of
greatest need. These priorities may include student financial aid, investment in
essential facility upgrades and repairs or development or expansion of educational
offerings to meet the needs of the community. Trust that your investment in
Germanna will be used wisely.
Scholarships
Individuals, businesses and community organizations may create a named endowed scholarship at Germanna Community College with a gift of $15,000 or more. This can be done through a one-time gift or through a pledge commitment of up to five years.
Named endowed scholarships provide donors with an opportunity to recognize loved ones in perpetuity, through gifts made in honor during a person's lifetime or in memory.
Scholarship development is managed by Germanna's Office of Institutional Advancement and the Germanna Educational Foundation. Together they coordinate the application and selection process in cooperation with the college's Office of Financial Aid.
For information about establishing a scholarship, please contact Germanna's Office of Institutional Advancement at foundation@germanna.edu or 540-423-9060.
Appreciated Stocks, Bonds or Mutual Funds
Gifts of stocks or bonds offer double benefits for the donor while helping the college. You receive a full tax deduction for the market value and may avoid capital gains on the appreciation.
Planned or Deferred Gifts
There are several different vehicles to fund a scholarship through planned giving:
- Charitable Gift Annuities
- With a charitable gift annuity, your contribution of cash or appreciated securities returns a fixed annual income to you, backed by the assets of the college. In return for your gift, the Germanna Educational Foundation will pay annual income to you, and/or another person you choose, for life. Part of the income is treated as return of principal every year and is tax-free. In addition, you receive a sizable charitable income tax deduction in the year in which the gift annuity is established, which can be carried over for five more years, if necessary. Upon the death of the annuitant and any other income beneficiary, the assets are used by the college according to your specifications.
- Charitable Remainder Trusts
- Check back for more information.
- Bequests
- Check back for more information.
- Life Insurance
- Designating the Germanna Educational Foundation as a beneficiary of a term life insurance policy will provide a gift upon your death. Giving a policy with cash value provides an immediate gift.
- We can create a customized plan to allow you to endow a scholarship and receive a specified annuity for life.
- Contact Germanna's Office of Institutional Advancement at foundation@germanna.edu or 540-423-9060.
- Retirement Plan
- There may be estate tax advantages to designating the college as a beneficiary of the remainder of one's retirement plan.
Corporate Match
Businesses that match employee gifts ensure that their charitable resources support causes that are important to their employees and their community. Contact your company's human resources office to see if your company offers a corporate matching gift program.
Real Estate
You may gift a residence receive tax benefits allowable by law and live in the home as long as you wish.
Valuable artwork or other tangible personal property is a way to make a gift. The donor obtains an appraisal of the item(s) donated in order to take advantage of allowable tax deductions.
Contact Germanna's Office of Institutional Advancement at foundation@germanna.edu or 540-423-9060.
