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Foundation Contributions and Online Donations
Foundation Annual Donor Drive now in progress!
Please help us raise funds for student scholarships
The South Suburban College Foundation 2011 Donor Drive is now in progress, and we are now seeking support from our friends and local partners to help make a difference in the lives of local students. The Foundation provides scholarship assistance each year to many students who otherwise would be unlikely to begin or complete their college education.
One-hundred percent (100%) of Donor Drive donations benefit scholarship and student assistance funds. Whether it is a high school graduate, an unemployed resident looking for a career change, or a single parent pursuing their college degree for the first time, the SSC Foundation offers scholarship assistance to all students in need. Helping students achieve their college dream helps them to go on to improve their lives and their communities.
As you consider your year-end tax planning, we hope you will consider making good use of the income tax charitable deduction. No matter your income, if you itemize, you will lower your taxes through charitable giving. The amount of the savings will depend on your tax bracket. Gift ideas are not limited to cash/check. Gifts of stock, insurance and planned gifts /bequests are also good ways to take advantage of longer-term tax savings. All contributions to the SSCF are tax-deductible (TIN: 23- 7191736).
The Foundation staff works cooperatively with individuals and organizations to develop a donor plan of any level. New scholarships can also be established with a $750 donation. Thank you for your continued support!
Sincerely,
Jeanna Bridges,
SSC Foundation President Market President, BMO Harris Bank
Gifts for the Present and the Future
Your financial support of the South Suburban College Foundation is an investment in the economic development of the south suburbs and a better future for the thousands of residents who depend on South Suburban College for the education and training to meet their career goals.
The SSCF annual campaigns include a spring Showcase Dinner and a Donor Drive in the fall. Individuals and businesses can establish a personal, memorial, or business-sponsored scholarship with an annual donation of $750 or more. An endowed scholarship fund that produces an annual scholarship for as long as South Suburban College endures can also be established with a donation of $30,000 (over five years).
Some other tax-deductable, charitable gift ideas include:
Cash/Check
If an individual itemizes, outright gifts of cash are fully deductible for federal income tax purposes up to 50% of the adjusted gross income. Total gifts that exceed this limitation may be carried forward for tax purposes for up to five additional years.
Stock
Giving long-term appreciated stock offers a two-fold tax saving. First, it allows individuals to avoid paying any capital gains tax on the increase in value of the stock. In addition, they will receive a tax deduction for the full fair market value of the stock on the date of the gift. For income tax purposes the value of such gifts may be deducted up to 30% of the adjusted gross income, with an additional five year carry forward.
Gifts of Insurance
To receive a charitable deduction, name the SSC Foundation as both the owner and beneficiary of the policy. If the policy has a cash value, an individual can take a charitable deduction approximately equal to the cash value at the time of the gift. In addition, any annual premiums will become tax deductible each year.
Bequests
Through bequeathing money in one’s will the Foundation can benefit tremendously while saving individuals many estate tax dollars at the same time. The federal estate tax can still take approximately 50% of one’s estate at the time of death.
If you are interested in making a contribution to the South Suburban College Foundation, please contact Interim Director, Patrick Rush, at (708) 596-2000, ext. 2697.
South Suburban College Foundation 2011 Donors
