Gifts That Cost You Nothing Now
Gifts in a will or by beneficiary designation are two easy ways to support our students and community for years to come — and they don’t cost anything now.
If you have already included a gift in your estate plans to benefit the future of the MCCC Foundation, be sure to let us know so that we may best honor your wishes.
Gifts in a Will
Making a legacy gift in your will or trust is one of the easiest and most popular ways to make a lasting impact for the Montgomery County Community College. Once you have provided for your loved ones, we hope you will consider making our vision part of your life story through a legacy gift.
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A gift in your will is one of the easiest ways to create your legacy and offers the following benefits:
LASTING IMPACT
Your gift will create your legacy of making a difference in the lives of our students for years to come.
FLEXIBLE
You can alter your gift or change your mind at any time and for any reason.
NO COST
Costs you nothing now to give in this way.
Four simple, “no-cost-now” ways to give in your will
General gift
A general bequest is a gift of a specific amount.
Residuary gift
Specific gift
A specific gift is a gift of a particular piece of property. For example, real estate, funds in a bank account or shares of a corporation.
Contingent gift
Leaves a stated amount or share only if a spouse, family member or other heir/beneficiary does not live longer than you. In other words, your gift is contingent upon whether or not they survive after you.
You can mix these no-cost ways together. For example, you might consider leaving a specific percentage (such as 50%) of the residual to the Montgomery County Community College Foundation or your local council contingent upon the survival of your spouse.
Gifts by Beneficiary Designation
It’s easy to put your bank accounts, retirement funds, savings bonds, and more to enriching our students’ lives — and it costs you nothing now.
By naming the Montgomery County Community College Foundation as a beneficiary of these assets, you can power our mission for years to come and establish your personal legacy of making a difference in the lives of our students for years to come.
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Potential benefits of gifts by beneficiary designation:
Reduce or eliminate taxes
Reduce or avoid probate fees
No cost to you now to give
Create your legacy of supporting our students and community for years to come.
Types of Gifts
Retirement plan assets
You can simply name the Montgomery County Community College Foundation as a beneficiary of your retirement plan to help ensure that each of our students receive a quality education surrounded by an enriching environment for generations to come.
Life insurance policies
You can name the Montgomery County Community College Foundation as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, the MCCC Foundation will receive the proceeds of your policy after your lifetime. You can change your beneficiary at any time and may reduce your estate taxes.
Bank or brokerage accounts
This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals. The next time you visit your bank, you can name the Montgomery County Community College Foundation (Tax ID: 23-2253031) as the beneficiary of a checking or savings bank account, a certificate of deposit (CD), or a brokerage account. When you do, you’ll take a powerful step toward supporting our students and community for years to come.
Funds remaining in your donor-advised fund
What remains in a donor-advised fund is governed by the contract you completed when you created your fund. When you name the Montgomery County Community College Foundation as a “successor” of your account or a portion of your account value, you enable life-changing opportunities for our students that they might not otherwise have.
How to update a beneficiary designation:
Simply contact your bank, retirement plan administrator, insurance company, or other financial institution to request a beneficiary designation form. You may also be able to log in to your account and update your beneficiaries online.
Please use our legal name: Montgomery County Community College Foundation
Include our tax identification number: 23-2253031
Please let us know so we can ensure that your wishes are carried out.
Our Team is Here to Help
Our experienced team is here to help you…
- Learn about special projects that align with your interests.
- Structure a donation that maximizes benefits for you and your loved ones.
- Stay up to date on how your gift is used.
- And more!
