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Current Planned Gifts

Current planned gifts, or planned gifts made during one’s lifetime, allow the donor and the nonprofit to partner in significant ways. Because the Federal government allows certain tax deductions for contributions to qualifying charities, Greenville College offers tax-deductible giving plans and can assist you with arrangements that can contribute to mutual financial success during your lifetime. Common strategies include:

  1. Charitable gift annuity
  2. Charitable remainder trusts
  3. Charitable lead trusts
  4. Giving stocks or real-estate
  5. Giving tangible personal property

Charitable Gift Annuity

A Charitable Gift Annuity is established when the donor(s) gives an asset (cash, stock, real estate, etc.) to benefit Greenville College. In exchange the donor(s) receives annual, fixed payments. The income stream is paid and guaranteed by the charity (The GuideStream Financial Group is Greenville’s partner on a Charitable Gift Annuity) for a defined time period. The income annuity rate is determined by the income recipients’ age and remains the same for the duration of the contract. While a similar income annuity strategy can be accomplished with an insurance company, the benefit of entering into a Charitable Gift Annuity is that the donor(s) receives a current charitable tax deduction based on the present value of the remainder gift. At the end of the donor’s life, this residual amount will then be used to further the ministry of the institution.

Charitable Remainder Trust

A Charitable Remainder Trust (CRT) functions quite similarly to the Charitable Gift Annuity. It is established when the donor(s) gives an asset to an irrevocable trust which has designated charity(s) as the beneficiaries. The assets contributed to the trust creates a charitable deduction for the donors based on the present value of the remainder gift to the charity(s). The asset is usually sold to diversify the investment. The donor or income beneficiaries can take an annual distribution, which is usually a percentage of the annual value of the trust. At the passing of the income recipient(s), the charities receive the remainder from the trust. CRTs are typically preferred to Gift Annuities if the donor(s) would like more flexibility and have the potential for increasing income payments in the future.

Charitable Lead Trust

A Charitable Lead Trust (CLT) is established when the donor(s) gives an asset to an irrevocable trust. In the CLT arrangement, the asset donated provides a current income stream to the charity for a defined period of time. The residual amount of the asset is then transferred back to the named beneficiaries that the donor(s) has established (typically children or grandchildren). The amount of the tax deduction is the present value of the payout received by the charity over the set period of time. The asset also passes to the beneficiaries outside of the donor’s estate, potentially avoiding estate tax on the amount of the transfer.

Tangible Personal Property

In-kind gifts are often tax-deductible. Upon receipt, we send a letter of thanks and acknowledgment for your donation which serves as your receipt for tax and record-keeping purposes. If you would like to discuss making an in-kind gift, please call theAdvancement Office at 618-664-6500.


Disclaimer: This content is for educational and informational purposes only and should not be considered legal, tax, accounting or other professional advice. We encourage you to consult with your professional advisors regarding any gift you are considering.