Planned Giving - Hostos Community College

Make a Planned Gift...

"...nothing is more useful to a human being than to be useful to a fellow human being because, besides the benefit that someday will be obtained for offering a service, there's also an additional reward: the sweet satisfaction enjoyed for being benevolent"

- Eugenio María de Hostos

...and Join the Eugenio María de Hostos Society!

If you have ever wished for a way to transform students’ lives and make a meaningful, lasting contribution to the Hostos community, a “deferred” or “planned” gift can help you realize that goal, without writing a check or affecting your current lifestyle.

A planned gift often makes it possible to enrich the lives of future students and have an impact that is far greater and more profound than you previously thought possible.

Whether you give cash, stock, life insurance, retirement assets, or other types of gifts, we’ll make it easy for you, and you and/or your heirs may receive valuable tax benefits in the process.

What to Give

Marketable Securities

Many people think of giving cash as a charitable gift. But did you know that by giving appreciated stocks and bonds, you may avoid paying capital gains tax on the appreciated asset? Note that the gift must be made to the Hostos Community College Foundation prior to the sale of the asset.

Life Insurance

By completing a change of beneficiary form, provided by your insurance company, you can make the Eugenio María de Hostos Community College Foundation the full or partial beneficiary of a whole or term life insurance policy. Naming the Foundation the contingent beneficiary can give your loved ones the security you want to provide and benefit the College in the event your spouse, partner, or other living beneficiary predeceases you.

If you own a whole life policy structured with self-sustaining premiums that you no longer need because of financial or family circumstances, you may become eligible for a tax deduction by naming the Foundation as sole beneficiary and re-titling the policy’s ownership in the Foundation’s name.

Retirement Plan Assets

If you are 70 ½ or older, you may wish to make a tax-free gift to the Hostos Community College Foundation from your Individual Retirement Account (IRA) – as part of your required minimum distribution (RMD). But what about the retirement plan assets that remain after your death? At any age, you can name the Foundation as the full, partial, or contingent beneficiary of your IRA or other retirement plan assets by completing a form provided by your plan administrator.

How to Give

Below are some common ways to make gifts that benefit Hostos students without impacting your current lifestyle.

Bequest

This is an easy and meaningful way to make a difference in students’ lives. You may bequeath:

A percentage of your estate
A specific dollar amount or asset
The balance or residue of your estate

Funds may be unrestricted (for general use) or restricted (for a specific purpose, such as an endowed scholarship). You can change your mind at any time. Below is basic, sample language for bequests:

I give, devise and bequeath to the Eugenio María de Hostos Community College Foundation, a New York not-for-profit corporation located in the Bronx, New York [dollar amount, percentage/remainder of estate…]. This gift shall be used for [i.e. scholarship] if and so long as the President and Directors determine that the need exists. If the President and Board of Directors determine at the outset or at a later time that the need does not exist, or no longer exists, or for some reason it is not possible (or prudent) for the bequest to be used as originally intended, the President and Board of Directors may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.

Charitable Gift Annuity

This allows you (or your spouse) to receive fixed payments for life by making an irrevocable donation of cash or marketable securities to the Foundation during your lifetime. Income can begin immediately or can be deferred. What’s left of your original contribution after your lifetime(s) is retained by the Foundation.

Generally appropriate for donations of $10,000+.

Charitable Remainder Trust

This provides a donor and/or trust beneficiaries income for life or a term of years. At the end of the trust term, the trust principal is distributed to the Foundation. In the meantime, the trust may increase income for you or the trust beneficiaries, reduce your taxes, and unlock appreciated investments.

Generally appropriate for donations of $100,000+.

Charitable Lead Trust

If your goal is to provide an inheritance for your children and grandchildren, but you would also like to make a significant annual gift to Hostos, this trust may help you satisfy both objectives. The size of the trust, its length, and the amount to be distributed annually from the trust assets to the Foundation is up to you. At the end of the trust term, the principal is distributed to your family or other beneficiaries.

Generally appropriate for donations of $100,000+.

We would be delighted to provide the Foundation’s Tax ID, have an exploratory conversation with you, and/or work with you and your attorney/financial planner to help determine the best way to achieve your personal and philanthropic goals.

GENERAL INFORMATION:

Foundation’s legal name: Eugenio María de Hostos Community College Foundation

Contact/to obtain Tax ID#: Colette Atkins, Vice President of Institutional Advancement

catkins@hostos.cuny.edu - 718-518-4407

Information and bequest language given here is meant to be used only with the advice or your attorney or financial advisor. Each individual situation is unique, and these examples provide only some of the possible giving opportunities.

"...nothing is more useful to a human being than to be useful to a fellow human being because, besides the benefit that someday will be obtained for offering a service, there's also an additional reward: the sweet satisfaction enjoyed for being benevolent"

- Eugenio María de Hostos

If you have ever wished for a way to transform students’ lives and make a meaningful, lasting contribution to the Hostos community, a “deferred” or “planned” gift can help you realize that goal, without writing a check or affecting your current lifestyle.

A planned gift often makes it possible to enrich the lives of future students and have an impact that is far greater and more profound than you previously thought possible.

Whether you give cash, stock, life insurance, retirement assets, or other types of gifts, we’ll make it easy for you, and you and/or your heirs may receive valuable tax benefits in the process.

What to Give

Marketable Securities

Many people think of giving cash as a charitable gift. But did you know that by giving appreciated stocks and bonds, you may avoid paying capital gains tax on the appreciated asset? Note that the gift must be made to the Hostos Community College Foundation prior to the sale of the asset.

Life Insurance

If you own a whole life policy structured with self-sustaining premiums that you no longer need because of financial or family circumstances, you may become eligible for a tax deduction by naming the Foundation as sole beneficiary and re-titling the policy’s ownership in the Foundation’s name.

Retirement Plan Assets

How to Give

Below are some common ways to make gifts that benefit Hostos students without impacting your current lifestyle.

Bequest

This is an easy and meaningful way to make a difference in students’ lives. You may bequeath:

A percentage of your estate

A specific dollar amount or asset

The balance or residue of your estate

Funds may be unrestricted (for general use) or restricted (for a specific purpose, such as an endowed scholarship). You can change your mind at any time. Below is basic, sample language for bequests:

Charitable Gift Annuity

Generally appropriate for donations of $10,000+.

Charitable Remainder Trust

Generally appropriate for donations of $100,000+.

Charitable Lead Trust

Generally appropriate for donations of $100,000+.

We would be delighted to provide the Foundation’s Tax ID, have an exploratory conversation with you, and/or work with you and your attorney/financial planner to help determine the best way to achieve your personal and philanthropic goals.

GENERAL INFORMATION:

Foundation’s legal name: Eugenio María de Hostos Community College Foundation

Contact/to obtain Tax ID#: Colette Atkins, Vice President of Institutional Advancement

catkins@hostos.cuny.edu - 718-518-4407

Information and bequest language given here is meant to be used only with the advice or your attorney or financial advisor. Each individual situation is unique, and these examples provide only some of the possible giving opportunities.