Give to Goshen College

The GC Fund
One Fund : Multiple Impacts

The Goshen College Fund is the annual giving program that supports our collective mission and vision for the unique student experience here at GC.

Gifts to the Goshen College Fund–given by alumni, parents, and friends–are generous unrestricted gifts that allow flexibility to be used for students’ areas of greatest need.

 

The Goshen College Fund supports:

• Student financial aid
• Study-Service Term
• 91.1 WGCS The Globe
• Spiritual Development
• Faculty Development
• Technology & Classroom Upgrades
• Library & Academic Success Center

Give to the GC Fund now

Your support sustains our mission of quality artistic programming and educational opportunities for all.

Give to the Music Center now.

Thank you for supporting our mission of providing environmental education for all ages, a natural sanctuary for Northern Indiana’s plants and animals, and a setting that benefit the human body and spirit without exploiting the land.

Give to Merry Lea now

In joining the MLAC, members provide support to more than 300 Goshen College student-athletes. With your gift, no matter at what level, you will be providing critical support in the areas of post-season travel, equipment, uniforms, facility improvements, recruitment expenses and more.

Give to MLAC now

A campaign to support excellence in the classroom, a greater and transformative presence in our community, and a beautiful, inviting and inclusive campus.

Learn More

Give to WGCS 91.1 The Globe

Learn more

Life income plans are a form of deferred gifts to an organization like Goshen College that are considered a partial gift in that some of the funds are held by the organization to make the promised payments to the income beneficiaries for the rest of their lives. At the death of the last surviving income beneficiary, the charity (the remainder beneficiary) receives any funds remaining in the account.

We offer several life income plan options:

• Charitable Gift Annuity (FAQs download)
• Charitable Remainder Trust (FAQs Download)
  • Charitable Remainder Annuity Trust
  • Charitable Remainder Unitrust

The best vehicle to use varies greatly from donor to donor and depends on a wide variety of factors, including the type of asset being given, the age of the beneficiaries and the specific needs of the beneficiaries. A general calculation can be obtained by using this planned giving calculator. Detailed calculations concerning the benefits of each plan can be provided by the development office, and the staff can work closely with you and your advisers to determine the best way for you to make a planned gift.

Gifts of appreciated property, such as stocks and bonds that you have held for more than one year, can provide greater tax benefits than giving cash. Not only is the market value of the securities deductible (subject to applicable limitations), but you also avoid paying the capital gains tax on the appreciation. Our staff can work with you and your adviser to facilitate a gift that will be the most advantageous for you.

Please note that, as a general rule, you should not give Goshen College depreciated securities. It is more advantageous to you to sell such securities, take a loss on your income tax return and donate the proceeds.

The most important thing to remember is to donate the stock itself, not the proceeds from the sale of the stock. `

If your stock is held in a brokerage account
Simply notify your broker of your intent to give stock to Goshen College and ask him or her to contact the development office at once for instructions on how to accomplish the transfer. (Do NOT instruct your broker to sell the stock.) With this method, Goshen College will value your gift at the mean price of the stock as traded on the date the stock is deposited into Goshen’s account. This will generally be one or two days after you instruct your broker to make the transfer.

Giving shares of a mutual fund
Gifts of mutual fund shares may also be given to the college. Most mutual fund companies have a form you must complete to affect the transfer, so you will need to contact your company and request directions on how to make such a gift. It is wise to inform the development office of your plans so staff members can assist you in this process. Transferring mutual funds may take between two and three weeks to accomplish.

Simply naming a charity like Goshen College as a beneficiary in a will or trust document is the most common way to make a deferred gift. Over half of the planned and deferred gifts that are distributed to the College are structured in this way. Another way that’s becoming more common is for the donor to name Goshen College as a beneficiary on an IRA or other retirement plan account.

Making a gift through a will or trust

Bequests to Goshen through wills or trusts traditionally have been a large source of endowment support. Each individual legacy contributes to Goshen’s financial stability. Just as the bequests of past alumni have helped to create the Goshen of today, the continuation of this tradition of remembrance will help ensure a financially sound and academically strong Goshen for tomorrow. A bequest to Goshen through a will or trust will qualify your estate for an estate tax charitable deduction equal to the entire amount you bequeath.

Including Goshen in your will

• You may make a bequest to Goshen of cash, securities, or other property by designating a specific dollar amount, a particular asset, or a fixed percentage of your estate.
• You may make a bequest of all or a portion of your residuary estate to Goshen after you have provided for all other beneficiaries by specific bequests.
• You may make Goshen a contingent beneficiary of your estate by stipulating that Goshen will receive all or a portion of your estate if your named beneficiaries do not survive you.
• You may make Goshen the remainder beneficiary of a trust which you establish in your will or during your life to provide income to one or more beneficiaries for life. Goshen would then receive the principal of the trust at the death of the last surviving beneficiary.

Sample testamentary language
The following language could be used to direct a gift to Goshen College through your will or trust:

• General bequest: “I give (a specific asset, $____dollars, or ___% of the rest, residue and remainder of my estate) to Goshen College Inc., 1700 S. Main St., Goshen IN 46526 for its general purposes.”
• A bequest for a specific purpose: “I give (a specific asset, $____dollars, or ___% of the rest, residue and remainder of my estate) to Goshen College Inc., 1700 S. Main St., Goshen IN 46526 for the following purpose: (state the purpose, e.g. to establish a named scholarship fund, to be added to an existing scholarship fund, to be added to the general endowment fund or to support a specific Goshen College activity or program).”

Making a gift through an IRA or other qualified retirement plan

One simple yet effective way to provide a significant benefit to Goshen College while minimizing income tax is to name the college as one of the beneficiaries on your IRAs or other qualified retirement plans. Unless the account is a Roth IRA, it’s likely that income taxes will need to be paid either by your estate or your heirs when the funds are distributed.

By naming a qualified charity, such as Goshen College, as a beneficiary, any distributions made to the charity upon your death will be entirely free of income taxes. While these funds will still be included in your gross estate, no income taxes will be due. The result is a simple but powerful way to save on income taxes and help assure that Goshen College will have the support needed to provide for future generations of students.

Changing needs
Goshen requests that donors or their attorneys contact the development office to discuss possibilities for specific purposes. Goshen’s educational activities and programs change over time, and the needs of this generation of students may not be the same as those of the next. Therefore, whenever you indicate a particular purpose for your bequest, it is advisable to grant Goshen the authority to respond to changing needs. You may do this by including the following language with your bequest:

If at any time in the judgment of the Goshen College board of directors, it is impossible or impracticable to carry out exactly the designated purpose, the Goshen College board of directors shall determine an alternative purpose as near as possible to the designated purpose.

You may pledge an amount to the gift opportunity of your choice and arrange to pay it in installments of up to five years.

Contact the Development Office to make a pledge.

You can leverage your own giving if your employer offers a gift-matching program. You will be credited for the total amount, and your employer will receive recognition in donor publications.

To find out if your company matches gifts to colleges, contact your company’s human resources department or email give@goshen.edu.