The CCC Development Foundation is working toward the goal of establishing a $3 - $5 million endowment. Through various efforts, the Foundation attempts to equip CCC with funds that will enhance the College, thanks to CCC's faculty and staff, alumni, friends and community partners. Each year, fundraising endeavors become more and more successful.
Make a gift to the Annual Fund
Cash contributions are tax deductible as an itemized deduction in the year you make the donation, up to 50 percent of your adjusted gross income. Any excess over 50 percent can be deducted over the next five years. Pledges cannot be claimed until the gift payment is made.
Many employers match employee's or employee spouse's charitable donations. If your gift is eligible for matching, please include the completed submission form.
Stocks and Bonds
If you have donated stock that has risen in value and that you've held for more than one year, you pay no capital gains tax on the transaction and are entitled to a charitable deduction for the full fair market value of the stock. Your income tax deduction is limited to 30 percent of your adjusted gross income. Any excess can be carried forward for five additional years.
If you have stock losses, generally you should not contribute the stock, but rather sell the stock yourself to realize the loss for tax purposes. You can then contribute the cash and take a charitable deduction.
If you own property that is not subject to a mortgage and has appreciated in value, a charitable gift may be an attractive option. You can claim an income tax deduction based upon the fair market value of the property, avoid all capital gains taxes and remove that asset from your taxable estate. We prefer that you contact us during the early stages of your planning so we can jointly decide the best use of the property by the CCC Development Foundation, Inc.
Works of art, books, equipment, etc. are considered gifts of personal property. Your deduction will depend on the appraised value, which is obtained at the donor's cost.
Where to Direct the Gift
The CCC Development Foundation, Inc. is the official recipient for all gifts to the College. Checks should be made payable to the CCC Development Foundation, Inc., and all property should be transferred to the CCC Development Foundation, Inc..
Your gift will be used specifically for the purpose(s) it was given and treated with confidentiality, if that is your wish.
All gifts qualify for the appropriate levels of recognition from the CCC Development Foundation, Inc.
Consult Your Tax Advisor
This information is not offered as legal advice. For legal advice, please contact your tax attorney and/or tax accountant.