For over 100 years, Fullerton College has been a place for students to study as they set a course for their future and realize their dreams. The Friends of Fullerton College Foundation is dedicated to helping all Fullerton College students reach their fullest potential by easing the financial burden of higher education through scholarships and by providing innovative technologies to our classrooms.
Consider supporting students by making a donation to the Friends of Fullerton College.
All Fullerton College students are encouraged to apply for Friends of Fullerton College Foundation scholarships. Hundreds of scholarships, with different criteria, are available this spring. Applications are accepted through April 11 for the 2021-2022 academic year.
Ways to Give
Secure gifts can be made online at any time and for any amount you wish. If you are willing, you can also make the gift a slight bit bigger to cover the cost of processing.
Gifts by check can be made at any time. One change for 2020 is that checks must clear your bank by December 31 to be deductible for this year. Previously gifts had to be postmarked by the end of the year.
Gifts of appreciated stock are a great way to benefit Fullerton College. To make a gift in this way, have your broker transfer the selected stock directly to the Friends of Fullerton College brokerage account and you will receive a deduction for the full value of the stock. However, if you sell the stock and bring us a check, you will have to pay taxes on the capital gains and then take a charitable deduction. Contact the Friends to get our account information, prior to making this type of gift.
2020 Year-End Special
For 2020 only, charitable gifts of up to $300 can be given to the Friends of Fullerton College and are tax-deductible, even if you are not itemizing. It is an “above the line” deduction, so the gift is not included in your adjusted gross income. Gifts to take advantage of this provision must be received and deposited by the Foundation by the end of the year.
Qualified Charitable Distribution from an IRA
Gifts from your Individual Retirement Account can be given to the Friends of Fullerton College, an eligible charitable organization. Up to $100,000 of the gift is excluded from your gross income for tax purposes. These gifts also apply to your required minimum distribution. While the normal Required Minimum Distribution is not required to be taken in 2020, you can still utilize this tool to make a gift this year. It effectively works as a tax-deductible gift, even when you are not itemizing your deductions.
- If your retirement funds are still in a 401k, 403b or 457 account, to make a Qualified Charitable Distribution, you need to roll all or a portion of those funds into an IRA and then make the distribution to Friends of Fullerton College. This rollover is tax-free.
- The distribution must come directly from your account to the Friends of Fullerton College. If you take the distribution as a check, deposit it and then write us a check, it will be a taxable event and you only receive the tax-deduction, if you itemize deductions.
Charitable Gift Annuities
Do you want to ensure that you have enough money for your 80s and 90s, and give a gift to the Friends of Fullerton College? A charitable gift annuity (CGA) provides guaranteed payments to you and/or your spouse for the payees’ lifetime. The remainder then supports Fullerton College. Given the current environment of low-interest rates, a CGA provides attractive interest rates. Rates are set by the American Council for Gift Annuities. For example, the rate for a single person age 73 is 5.1% and the rate for a couple of ages, 74 and 71 is 4.4%. Again, the income is guaranteed for life and most of the income is tax-free. Contact us for details.
THANK YOU FOR YOUR SUPPORT
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