Ways to Share
Give the gift of education
Create a Stronger Bay College
Current, planned and endowment gifts plant seeds for the present and offer ongoing nourishment for the future. Gifts of any amount, at any time, collectively foster greatness. Discover how you can help create success and open doors to a more significant college for the betterment of each student, community and the world at large. Gifts are tax deductible IRS#38-2161915.
Gifts of Cash
Cash gifts are the most popular way to share the gift of education. Cash gifts are made by checks payable to the Bay College Foundation, credit card or ACH transfer. Consider a recurring gift or pledge allowing you to manage your cash flow while maximizing your impact through consistent contributions. Employee matching gift plans may double or triple the impact of your gift when available.
Memorial gifts are a meaningful way to pay tribute to someone or something special. Convey sympathy to the bereaved, memorialize a loved one, commemorate an occasion, or possibly honor a life of accomplishments. Funds may be added to over time.
Distribution of Retirement Assets
Tax incentives allow you to direct your retirement fund required minimum distribution (RMD) to qualified charities such as the Bay College Foundation tax-free. Minimum distributions of IRAs and defined retirement accounts, such as 401(k)s, 403(b)s and profit-sharing plans, are required and taxable upon at age of 70 ½ or in other defined circumstances. RMD charitable gifts reduce taxable income.
Transfer of Securities
Giving securities such as appreciated stocks, bonds, mutual funds and annuities provide great benefit to Bay College and you tangible tax benefits. The rewards may surprise you; you receive a charitable deduction for the full market value of the donated asset and avoid capital gain taxes - strengthening the impact of your gift. Transfer to Wells Fargo Clearing Service DTC#0141, Account #1595-2257 Bay de Noc Community College Foundation.
Donor Advised Charitable Fund
Sharing a gift from your donor advised fund (DAF) is a simple way for individuals and families to give back to multiple charities, diversifying philanthropy. Just provide the appropriate information to your fund manager. Gifts are subject to IRS charitable contribution requirements.
Do you want to leave a legacy that lives forever? Do you desire to make a gift that aligns your charitable goals with your longer-term financial goals? Planned giving incorporates tax and timing strategies, allowing you to maximize your gift’s impact for the College and your individual circumstances.
Intentions made in wills or trusts enable you to make significant contributions that may not have be possible during your lifetime. The most obvious is to remember the Bay College Foundation in your will or trust. Plan to designate Bay College a portion of your estate or property. By making your intent known in advance, the Foundation can plan for the future while recognizing your generosity during your lifetime. If there's a will, there's a way - what will you leave behind? It is as simple as…
"I give and devise to the Bay College Foundation, a portion of my estate, both real and personal, to be used for general support."
When you take the small step of naming our mission as the payable beneficiary of your retirement, investment, trust, savings, checking or insurance account, you help students and Bay College continue important work. This also avoids taxes to your heirs. A gift like this will not affect your lifestyle and will make a tremendous impact on those Bay serve. You may find in your later years that you do not need all the insurance you once did and transfer ownership of a paid life insurance policy tax-free to Bay College.
Property and In-kind Gifts
Bay appreciates gifts in-kind such as equipment and other tangible property that heighten student experiences or enhance the learning environment. Collectibles such as artwork, jewelry, collections, second home or real estate are also valued.