Planned gifts provide substantial support for the future and represent a growing source of funding for Parkland College. Whether you are considering including the Parkland College Foundation in your will or insurance policy, there are several ways to leave a lasting legacy to support the mission of Parkland College, its students, faculty and programs for generations to come.
This meaningful act to create a lasting legacy can have little or no current financial impact on you and may result in the largest, most enduring one-time gift you ever make to Parkland College.
Bequests
A bequest is a gift of any form or amount made outright in an individual’s will. Charitable bequests to the Parkland College Foundation can be included when executing a new will or added to an existing will.
You may leave an unrestricted or restricted bequest of cash, property, or a portion or the entire residue of your estate. An unrestricted gift is the most valuable to the Foundation and is allocated where the need is the greatest, however you may establish your own endowment or contribute to an existing fund.
To request a copy of our Bequest Intention Form, please contact our offices at 217/351-2464.
Life Insurance
Gifts of life insurance allow a donor to provide for beneficiaries, achieve substantial tax savings and make a larger gift than might otherwise have been possible. There are a number of ways to give a gift of life insurance. A policy can be contributed to the Parkland College Foundation or the Foundation can be named as a beneficiary or successor beneficiary of the policy.
Retirement Plan Assets
One frequently overlooked way to make a charitable contribution is by using qualified retirement assets. By naming the Parkland College Foundation as a beneficiary of your retirement account, you maintain lifetime control of these assets which pass to the Foundation upon your death. Your estate may be able to avoid certain income and estate taxes.
If you have questions regarding a planned gift, please contact the Parkland College Foundation offices at 217/351-2464 or foundation@parkland.edu.