Giving and Tax Benefits
Great tax benefits exist for those who give. Here are some of the gifts and associated benefits you should know about.
Make a substantial gift to Springfield College in the form of fixed annual payments and pass assets to your family or other heirs at reduced tax cost.
Make a substantial gift to Springfield College in the form of variable annual payments and pass assets to your family or other heirs at reduced tax cost.
Donate your home, farm or a second home to Springfield College and receive an immediate income tax charitable deduction, while retaining the right to live in your home for the rest of your life. If you itemize your deductions instead of taking the standard deduction you could save significant income taxes. If you cannot use your entire deduction in the year of your gift, you may carry forward all unused deduction for up to five additional years if you are able to itemize in each of those years.
Receive immediate cash and make a gift to Springfield College by selling to us a valuable asset, such as real estate, for less than it is worth.