Giving Guide

Why your gift is important

The Williston State College Foundation and its members are working to help WSC realize its greatness. In order to become a truly distinguished institution of higher learning, we seek to:

  • Provide adequate space and facilities to fulfill our vision and mission by upgrading and expanding the WSC campus.
  • Ensure that WSC is accessible and affordable for each and every student by significantly increasing our financial aid pool.
  • Recruit the best new faculty and retain those we have by increasing our Faculty Development Fund.

Types of Giving to WSC Foundation

Gifts of all types are gladly accepted throughout the year.

Annual Giving
Beginning this year, Williston State College Foundation will sponsor an annual fundraising drive. Annual Fund gifts will be used to meet the College’s most pressing needs. Your annual fund investment will make it possible to:

  • Award tuition assistance and scholarship aid to students and faculty
  • Provide critical building improvements
  • Secure vital laboratory, mechanical, and audiovisual training equipment
  • Improve the physical beauty of our campus
  • Provide overall support of our operating budget

Planned Giving
Planned giving is the process by which your philanthropic desire is guided and shaped by financial and estate planning considerations. Planned gifts can provide a tax shelter while also supplying fixed payments to donors and/or their families. Planned gifts include bequests, life insurance policies, retirement plan assets, charitable gift annuities, charitable remainder trusts, charitable lead trusts, and retained life estate agreements.

Memorials and Honorariums
Commemorative gifts are a thoughtful way to honor or memorialize a loved one while supporting a cause you believe in. Your memorial gift can establish an endowment, renew a scholarship, or help fund other projects. We will notify honored designees or the family members of those remembered with your gifts.

Endowments
Endowments are forever. The principal of an endowed gift is invested and the interest is used annually to meet the designated needs of the fund. The minimum gift for a named endowment is $100,000. However, you can add gifts of any amount to existing endowments. Endowments ensure a stable base of resources that will help sustain WSC for decades to come.

Creative Ways to Give

The Williston State College Foundation welcomes and appreciates gifts of all types. The use of your gift may be restricted to a particular area of the college or left unrestricted for use in areas of greatest need.

Cash
The simplest and easiest gift you can make. Gifts of cash can be put to use immediately if given for current operations. If gifts of cash are given for endowment, they can begin earning usable interest as soon as they are received.

Matching Gifts
An easy way to double your donation to Williston State College Foundation is to find out if your company has a matching-gift program. Such programs typically match all or a percentage of employee contributions to charitable organizations. Simply obtain a matching gift form from your employer’s personnel office, fill it out, and provide it to Williston State College Foundation with your contribution.

Bequests
The most common form of planned gift is a simple bequest through a will. A bequest allows you to give in ways you may not be able to during your lifetime. Because of the estate-tax charitable deduction, a bequest can significantly reduce the tax burden of your estate.

Life Insurance
By giving the ownership of a paid-up life insurance policy to the Foundation, you will receive an income tax deduction equal to the lesser of the cash value of the policy or the total premiums paid. By naming the Foundation as a beneficiary, the face value of the policy will eventually constitute a gift in your name and is deductible from federal estate taxes.

Personal Property
A gift-in-kind may be eligible for a deduction at the asset’s full fair market value. Assets that will enhance the educational mission of Williston State College (art work, literary or historical collections, etc.), add valuable capital to the college, and make a lasting difference in the community.

Securities
Gifts of appreciated securities are an excellent and tax efficient means for giving to Williston State College Foundation. When donating appreciated securities, a donor generally receives an income tax deduction for the full market value of the securities given. By donating the securities rather than selling them, a donor can also avoid capital gains tax on the appreciation of these securities.

Retirement Plan Assets
Retirement plan assets are often subject to both income tax and estate tax following the death of the owner. Although retirement plan assets cannot be transferred to the Foundation during your lifetime, naming the Foundation as the beneficiary of an IRA, 401K, Keogh or other retirement plan can result in estate tax reductions for your family.

Real Estate
A donor may make a gift of a personal residence, commercial building, land, farm or ranch to the Foundation. A gift of real estate enables you to realize a tax deduction, avoid capital gains liability, and, if desired, retain lifetime occupancy for you, your spouse, and possibly an additional person. If Williston State College or Foundation is unable to use the property, it may be sold and the proceeds added to an endowment or used for any purpose designated by the donor.

Charitable Gift Annuity
In exchange for cash or securities, the Foundation agrees to pay a fixed payment to the donor, a friend, or family member for life. The donor may claim a charitable tax deduction. Income from a gift annuity may be deferred for a period of years, a good option for younger donors who plan to supplement their retirement income.

Charitable Remainder Trusts
This type of trust makes an annual payment to one or more individuals of the donors choosing for life or a term of years. The payment may be either a fixed amount (annuity trust) or a percentage of the trust principal (unitrust). At the end of the trust term, the Foundation receives the amount remaining in the trust.

Charitable Lead Trust
This trust makes annual payments to the Foundation during the term of the trust. At the end of the term the principal can either go back to the donor (a grantor lead trust) or to the heirs named by the donor (a non-grantor lead trust). The donor may claim a charitable income tax deduction for creating a grantor lead trust. The more popular non-grantor lead trust allows the donor to take a charitable gift tax deduction and exempt his or her heirs from paying additional gift or estate taxes.

Please remember that the information offered here does not replace the advice of a financial or legal advisor. We will be happy to work with you and your financial advisor or estate planners to increase the tax benefits to you and your family.