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Educational Foundation - Giving

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Invest in your Community

Thanks to support from people like you, Germanna is the most affordable option for higher education in the region. Our success and commitment to deliver essential education and training programs is possible only with continued the financial contributions of individuals and businesses.

Your donation provides:

  • Scholarships to deserving students
  • Innovative training and classes to meet the demands of today's global marketplace
  • Capital for essential facilities and changing technologies

Communities with educated citizens are magnets for economic growth and jobs:

  • 44 percent of students who receive baccalaureates or master's degrees in STEM (science, technology, engineering, mathematics) fields attended a community college at some point in their careers.*
  • 52 percent of new nurses and the majority of other new health-care workers are educated at community colleges.*
  • Almost 80% of firefighters, law enforcement officers and EMT's are credentialed at community colleges.*
  • 20 to 40% of the nation's teachers began their education at community colleges.*

*source: American Association of community colleges


Big or small, every donation has an immediate impact

For many students, college attendance would not be possible without financial aid and some form of scholarship assistance. Germanna's ability to meet the growing needs of the community is possible only with your financial support.

Ways To Give

Cash

Cash gifts are the most common form of charitable gifts because they are simple and easy to deliver and may result in a charitable tax deduction for the year given. You can choose to make a one-time cash gift and/or fulfill pledges on an annual, semi-annual, or quarterly basis.

Securities

The foundation accepts stocks or other securities as donations. By contributing a long-term appreciated stock or other security, you are helping secure the educational goals for students, and you may avoid capital gains taxes while taking a charitable deduction.

Endowed Scholarships

You may create a named endowed scholarship fund for Germanna Community College students with a minimum contribution of $15,000. A donor has five years (from the time of the initial gift) for the permanently restricted fund (sum of gifts) to reach the required $15,000 threshold.

Non-Endowed Scholarships

You may establish a non-endowed scholarship with a minimum contribution of $500.00, and may choose to continue the scholarship with annual donations. The initial gift amount received from the donor is available to be awarded in scholarships for the next academic year. Gifts can also be made to the General Scholarship Fund administered by the foundation.

In-Kind Donations

The foundation accepts equipment and personal property (artwork, automobiles, books) that can be of use to the college or sold quickly. It is best to contact the foundation office to discuss your potential donation before planning to make such a gift. An appraisal for tangible personal property exceeding $5,000 in value must be obtained. The donor is responsible for the cost of the appraisal.

Tributes and Memorials

These gifts are a great way to honor and pay tribute to an individual or celebrate an occasion, such as an anniversary, birthday or new family member. The foundation informs the honoree (or their family) with a note (amount is kept confidential) showing that you care not only about them, but about the future of your community.

Bequests

Bequests are outright gifts to the foundation through a will or trust. Charitable bequests to the foundation can be included when executing a new will or added to an existing will through a codicil. You may leave an unrestricted or restricted bequest of cash, property, or a portion or the entire residue of your estate.

Sample Forms of Bequest Language

General Bequest (without restriction)

I give and bequeath to the Germanna Community College Educational Foundation, Inc. the sum of $_____ (and/or the securities or other property described herein, namely, _____) to be used without restriction in the furtherance of its mission of support for Germanna Community College.

General Bequest (restricted)

I give and bequeath to the Germanna Community College Educational Foundation, Inc. the sum of $____ (and/or the securities or other property described herein, namely, ___), for the use and benefit of the College (college/department/program), in accordance with established policies and procedures of the Germanna Community College Educational Foundation, Inc.

Bequest to Establish Endowed Scholarship Fund

I give and bequeath to the Germanna Community College Educational Foundation, Inc. the sum of $_____ to establish an endowed scholarship fund upon the following terms and conditions:

  1. The fund shall be known as (Name of Fund).
  2. The principal of said fund shall be invested by the Germanna Community College Educational Foundation, Inc. in accordance with its policy for the investment of endowed funds, and the income there from used annually as a scholarship award/s for students who meet the criteria/ requirements as noted on the Scholarship Administration Agreement, which will be prepared by the Foundation Office for presentation, review and signature by the donor/s and appropriate foundation representative.
  3. The recipients of the scholarships shall be selected in accordance with established policies and procedures of the Germanna Community College Educational Foundation, Inc.

Life Insurance

Gifts of life insurance allow a donor to provide for beneficiaries, achieve substantial tax savings and make a larger gift than might otherwise have been possible. A policy can be contributed to the GCC Educational Foundation or the foundation can be named as a beneficiary or successor beneficiary of the policy.

Real Estate

Gifts of appreciated real estate such as a home, vacation property, or undeveloped land may be accepted. Gifts of this nature may allow a donor to avoid tax liability.

Retirement Plan Assets

By naming the GCC Educational Foundation as a beneficiary of your retirement account, you maintain lifetime control of these assets which pass to the foundation upon your death. Your estate may be able to avoid certain income and estate taxes.

All of the above is not intended as legal or tax advice. Prior to making a charitable gift you are advised to consult your attorney, accountant, and/or other financial professional for advice with respect to legal and tax-related matters.

Join the Frank and Nancy Turnage Legacy Society.

turnageThe Frank and Nancy Turnage Legacy Society honors individuals who have included the Germanna Community College Educational Foundation in their estate plans. A planned gift will help to ensure that the college will have the resources to provide quality education for future generations. Current members of the Society have included the college in bequests, as the beneficiary of insurance policies or retirement plans, gift annuities or similar plans. The foundation is ready to assist you with planning similar gifts and to help you join this group of individuals who have committed to investing in the future of Germanna Community College.

Turnage Legacy Society Form


Other Options

Online

Give online to the Educational Foundation by using the link below.

Give online here.

donations

By Mail

Checks payable to:

Germanna Educational Foundation

Germanna Community College

2130 Germanna Highway

Locust Grove, VA 22508

Payroll Deduction

Employees of Germanna Community College can enroll in payroll deduction.

Contact the Human Resource Office or the Foundation Office

Phone: (540)423 - 9060

Email: foundation@germanna.edu