Giving to OTC
Ways to Give
Alumni and other friends may contribute to the OTC Foundation in many different ways. Some of the ways include: current or deferred gifts, contributions through scholarships, memorials and honorariums.
Through the use of one or more of these methods, many people have found it possible to participate in the growth and advancement of OTC at a level they previously had not thought possible.
In addition to providing support for the College and its mission, several types of gifts also afford significant benefits to the donor.
Current Gifts
Gifts of cash, stock, real estate, and other personal property can be put to immediate use for the benefit of the College and its programs.
Cash
There is not an easier way to give than to give a gift of cash. This gift can be in the form of cash, cashier’s check, personal check or credit card.
Stock
If you own stock, it is almost always more tax-wise to contribute stock than cash. This is because a gift of appreciated stock generally offers a two-fold tax saving. First, you avoid paying any capital gains tax on the increase in value of the stock. Second, you receive a charitable tax deduction for the full fair market value of the stock at the time of the gift.
For example, if you purchased some stock many years ago for only $1,000, and it is now worth $5,000, an outright gift of the stock to the OTC Foundation would result in a charitable contribution [and tax deduction] of $5,000. In addition, there is no capital gains tax on the $4,000 appreciation.
To contribute a gift of stock, please contact the foundation office at 447-2652 for assistance.
Property
A residence, vacation home, farm, acreage, or vacant lot may have appreciated in value through the years. A sale would mean a sizeable capital gains tax. By making a gift of property, the donor may avoid the capital gains tax, and, at the same time, receive a charitable deduction for the full fair market value of the property.
Gifts of real estate must be evaluated and approved by the foundation board of directors prior to accepting the gift. Please contact the foundation office at 447-2652 to begin the process.
Deferred Gifts
"Deferred" gifts provide excellent opportunities to experience today the personal satisfaction of making a significant gift that will benefit the College in the future, typically at the donor’s or beneficiary’s death.
Planned Gifts
Planned giving is smart giving. It offers increased tax benefits to the donor while providing long-term support for the OTC Foundation. Planned giving opportunities include charitable remainder trusts, wills, and more. Please contact the foundation office at 447-2652 for additional information.
Life Insurance
A gift of life insurance can provide the gift of opportunity for future OTC students. This planned gift could also provide a significant charitable tax deduction. You may purchase a new policy or donate a policy that you currently own. To receive a deduction, designate the OTC Foundation as both the owner and beneficiary of the life insurance policy. Check with your insurance agent for details.
Example: Mrs. Smith owns a $100,000 life insurance policy with a current cash value of $34,582. By transferring the policy to the foundation as the new owner and beneficiary, Mrs. Smith is able to receive a current charitable deduction of $34,582. If Mrs. Smith decides to continue paying the premiums on the policy after the gift is made, these additional premium payments will be tax deductible each year.
Contributing to a Scholarship
A gift of any amount can be made to increase an established scholarship, many of which support students in specific disciplines.
Establishing a Scholarship
A gift of $5,000 can endow a scholarship that will continue to help students reach their educational goals for years to come. An endowed scholarship fund is maintained in perpetuity and only the net gains from investments of the fund are used. Because endowed scholarships can be named for the donor or another designee, they provide a way to permanently associate an individual or organization with OTC.
To speak to our Foundation staff about making a contribution, please call 447-2651 or e-mail the Foundation’s Executive Director, Cliff Davis .
Memorials or Honorariums
If you would like to pay tribute to someone in life or after, a gift to the OTC Foundation can be a lasting legacy to that person’s contribution to our community. Please contact the foundation office at 417-447-2652 for assistance in creating an appropriate program.
How do I get more information about giving to the OTC Foundation?
If you are interested in more information on the OTC Foundation, please make an appointment with executive director, Cliff Davis, by calling 417-447-2652 or director of development, Pam Vokolek, by calling 417-447-2660.
Find out how you can invest in the future of our community to enrich your life, and the lives of our students.
