How to Give: Planned Giving

Resources

Thank you for your help in the support of Columbia Gorge Community College and the foundation. Within this area, you will find resources that may help you in your estate planning as well as gift planning.

Bequest Language
Frequently Asked Questions
Glossary
Goals and Benefits Chart

Bequest Language

The following is the wording you can take to your financial or legal adviser as you make or update your will or estate plan document.

To ensure funds will revert to Columbia Gorge Community College Foundation, we encourage you to use the following language in your will or other estate plan document:

“I give ___________ dollars to Columbia Gorge Community College Foundation, a nonprofit corporation organized and existing under the laws of the state of Oregon, and with the current business address of 400 East Scenic Drive, The Dalles, OR 97058, Tax ID No. 93-0740519, for its general purposes.”

“I give _______________ (specific asset) to Columbia Gorge Community College Foundation, a nonprofit corporation organized and existing under the laws of the state of Oregon, and with the current business address of 400 East Scenic Drive, The Dalles, OR 97058, Tax ID No. 93-0740519, for its general purposes.”

“I give _______ percent of the rest, residue, and remainder of my estate to Columbia Gorge Community College Foundation, a nonprofit corporation organized and existing under the laws of the state of Oregon, and with the current business address of 400 East Scenic Drive, The Dalles, OR 97058, Tax ID No. 93-0740519, for its general purposes.”

Please contact CGCC Foundation if you are interested in designating your bequest to a specific purpose.
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Frequently Asked Questions

Information will be coming soon. Thank you for your patience!
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Glossary

Administrator

A person legally vested with the right of administration of an estate.

Annuity

A sum of money payable yearly or at other regular intervals; the right to receive an annuity; a contract or an agreement providing an annuity.

Appreciated Property

Securities, real estate or any other property that has risen in value since the benefactor acquired it. Generally, appreciated property held by the donor for a year or more may be donated at full fair market value with no capital gains cost.

Beneficiary

One that benefits from something; the person designated to receive the income of a trust estate; the person named to receive proceeds or benefits.

Bequest

The act of bequeathing (to give or leave by will).

Charitable Gift Annuity

Charitable gift annuities allow you to transfer assets to CGCC Foundation in exchange for a guaranteed, fixed annuity payment to you or one other beneficiary for life. The annual payment is a fixed sum, the amount of which is based on the size of the gift and the number and ages of the beneficiaries. At the end of your lifetime, or the lifetime of another beneficiary, CGCC Foundation has no further obligation to make annuity payments.

Charitable Trust

A trust designed for the benefit of the public, as for educational or other charitable purposes.

Codicil

A supplement to a will, containing an addition, explanation, modification, etc., of something in the will; any supplement or appendix.

Corporate Fiduciary

An institution that acts for the benefit of another.

Cost Basis

The original value of an asset, such as a stock, before its appreciation or depreciation.

Durable Power of Attorney

A written legal document that lets an individual designate another person to act on his or her behalf, even in the event the individual becomes disabled or incapacitated.

Estate Tax

A tax imposed on a decedent’s property, assessed on the gross estate prior to distribution to the heirs.

Living Trust (Revocable)

A trust created and operating during the grantor’s lifetime. (also called Inter vivos Trust)

Living Will

A document in which the signer indicates preferences or directions for the administration, and especially the withdrawal or withholding of life-sustaining medical treatment in the event of terminal illness or permanent unconsciousness.

Marital Deduction

An estate tax deduction allowed a surviving spouse of half of the value of the estate of the deceased spouse.

Power of Attorney

A written document given by one person or party to another authorizing the latter to act for the former.

Power of Appointment

The right to leave property by will, transfer, gift or distribution under a trust.

Probate

The official proving of a will as authentic or valid in a probate court.

Special Needs Trust

A specific type of trust designed to provide benefits for physically or mentally disabled persons without jeopardizing such person’s access to and qualification for certain governmental benefits.

Testamentary Trust

A trust set up under the terms of a will.

Testator

A person who makes a will; a person who had died leaving a valid will.

Trust

A fiduciary relationship in which one party holds legal title to another’s property for the benefit of a party who holds equitable title to the property; an entity resulting from the establishment of such a relationship.

Trustee

One to whom something is entrusted; one trusted to keep or administer something; a natural or legal person to whom property is committed to be administered for the benefit of a beneficiary (as a person or charitable organization); the holder of legal title to property placed in a trust.

Unified Credit

A tax credit applied against the unified transfer tax that is a cumulative credit gradually reduced by the amount of credit allowed for gifts made in preceding calendar periods.

Will

A legal declaration of a person’s wishes regarding the disposal of his or her property after death..

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Goals and Benefits Chart

A Goals and Benefit Chart will be coming soon.
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Contact Form

If you are interested in learning more about gift planning, please fill out this form with your comments and/or questions.


Steph Hoppe
Foundation Manager
Columbia Gorge Community College Foundation
541-506-6113 (office)
503-706-0777 (cell)
ude.c1534315452cgc@e1534315452ppohs1534315452

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Disclaimer: This information is not intended to constitute legal or tax advice and may not be relied on as such. You should consult with your own tax adviser concerning the deductibility of contributions to CGCC Foundation.

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