2 Burlington County College Foundation Legacy Society

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2 Mission Statement The BCC Foundation provides scholarships for tuition, books and educational materials for qualifying students; and, provides mentoring, internship and career development opportunities for BCC students and alumni that are in agreement with the mission of BCC and support a variety of programs that strengthen the college. Now is the time to start a legacy to ensure that this generation and future generations of students will have the opportunity to earn a college degree at BCC and then transfer to a four-year institution or begin a career in a field that is hiring. 2 Burlington County College Foundation Legacy Society

3 Support BCC students in the future by preserving your legacy of caring. For more than 40 years, BCC has served the higher education needs of Burlington County residents. We have grown from a small school with one campus in Pemberton, NJ to BCC Foundation Holiday Auction Co-Chairs a thriving college Bob Santare and Carla Reinas present Tom Whitesell with an additional with an award honoring Whitesell's commitment to campus in economic development at the 2012 BCC Foundation Holiday Auction. Mount Laurel and centers in Mount Holly, Willingboro and the Joint Base McGuire-Dix-Lakehurst. The BCC Foundation was started in 1973 by a founding group of caring community and business residents, including Tom Whitesell, who is pictured above. Dedicated Board Chairs, including Bob Santare, who is also pictured above, helped the organization to form dozens of scholarships and endowments that have helped hundreds of students with tuition, books, career and mentoring support. The BCC family mourned the loss of Bob Santare who passed away on December 25, He will be remembered and honored for his leadership, countless acts of generosity, and commitment to education and workforce development. Burlington County College Foundation Legacy Society 3

4 What is Planned Giving? Planned giving offers a way to provide guaranteed income for life for you and your loved ones while investing in the lives of Burlington County College students with financial challenges. Planned giving allows you to donate to charity during your lifetime and/or after your death, while meeting your current income needs and providing for your heirs. Planned giving is often done in conjunction with estate planning and is a viable option for caring people of all income levels. Planned gifts offer many personal, financial, and tax benefits to you and your family while creating larger gifts for the BCC Foundation. You receive the intangible reward of being a partner in supporting students today and tomorrow, while leaving a gift that will last beyond your lifetime. 4 Burlington County College Foundation Legacy Society

5 Planned Giving Benefits The BCC Foundation has a strong relationship with the Philadelphia Foundation that has a long tradition of serving the needs of donors. With their support, the BCC Foundation is able to offer you and your heirs savings in income taxes, estate taxes, and probate costs with the assurance that your gift will be used as you intended. Planned giving offers many benefits: Protecting your beneficiaries through professional management Avoiding the burden of asset management Personal satisfaction of providing long-term support for students at BCC We encourage you to consult with your legal and financial advisors to fully explore the implications of these planned giving options and benefits. bccfoundation.net philafound.org Burlington County College Foundation Legacy Society 5

6 Bequests Heirs realize significant tax savings Bequests are the most common type of planned gift. They enable the donor to retain complete control over his assets while retaining significant estate tax savings for amounts transferred at death. A bequest can be as simple as adding the Burlington County College Foundation to your will to receive a stated dollar amount or a percentage of your estate. You may change the terms or your bequest and keep transactions private until death. Life Insurance Leverage your gift A simple way to make a meaningful planned gift to the BCC Foundation is to name the Foundation as a beneficiary of an existing policy or to give a fully paid policy to the Foundation. Donors can make a major gift at a fraction of the face value of a policy and receive considerable income and estate tax deductions. Charitable Gift Annuity Receive fixed annual payments for life With a charitable gift annuity, a donor makes a tax-deductible cash or appreciated securities gift. Up to two beneficiaries, including the donor, may be named to receive annual fixed payments for life. A tax deduction is realized the year the gift is made, and a portion of the annuity payments received each year are tax free or paid at the capital rate. Upon the donor s death, the remainder will go to the BCC Foundation Endowment Fund at the Philadelphia Foundation. 6 Burlington County College Foundation Legacy Society

7 Charitable Remainder Trust (CRT) Receive guaranteed income for life A CRT allows the donor to receive interest income for a certain period of time (no more than 20 years), after which the BCC Foundation will receive the remaining trust principal. Cash, equities and personal property can be transferred to the trust. The income may be a fixed amount (Annuity Trust) or a fluctuating amount (Unitrust). Upon the death of the named income beneficiaries or at the end of a specified number of years, the BCC Foundation will receive the remaining trust principal. Charitable Lead Trust (CLT) Ensure a larger inheritance for your heirs In a CLT a trust is created to provide the BCC Foundation Endowment Fund with income interest for a certain period of time, 5, 10, 15 or 20 years. At the end of this period, or upon the donor s death, the remainder is paid to the donor or his named beneficiaries. This is a good option for high net-worth individuals who are concerned about high estate taxes. Pooled Income Fund A mutual fund with a charitable deduction A pooled income fund offers a variable amount of income each year and the tax benefits of a charitable deduction. Cash or property is irrevocably transferred to a pooled income fund administered by the Philadelphia Foundation. Upon death, the remainder is distributed by the pooled income fund to the Burlington County College Foundation for charitable purposes. Burlington County College Foundation Legacy Society 7

8 Please join the Burlington County College Legacy Society! The BCC Foundation has played a vital role in providing education and support for students with financial challenges for more than 30 years. To ensure that this tradition of support will continue through the 21st Century and beyond, we ask that you support us by making a planned gift. YES, I am considering a planned gift that will support the BCC Foundation, and am particularly interested in (check all that apply): Bequest Life Insurance Charitable Gift Annuity Charitable Lead Trust Charitable Remainder Trust Pooled Income Fund Name: Address: City, State, Zip Code: Daytime Phone: Please detach this page and mail or fax to: The BCC Foundation The Enterprise Center at BCC 300 College Circle Mt. Laurel, NJ Fax: Phone: , ext Attn: Rebecca Corbin, Executive Director 8 Burlington County College Foundation Legacy Society