Santa Rosa Junior College Foundation

giving options

b) Call us
(707) 527-4348

c) Send a check and
gift designation
Payable to:
SRJC Foundation
1501 Mendocino Ave.
Santa Rosa, CA 95401-4395

Planned Giving

Retained Life Estate
While not a life-income type of gift, the irrevocable donation of real estate while retaining the right to use the property has become an increasingly attractive charitable gift arrangement. A donor can give a personal residence or vacation home to the SRJC Foundation for benefit of the Santa Rosa Junior College and reserve the use of the property for life (or a term of years), and/or the lifetime of another resident beneficiary. This arrangement can be ideal for the older donor who owns property and has no heirs. The gift would provide tax savings and the security of knowing that he or she, and a surviving spouse could make a major lifetime gift of a significant asset without relinquishing its use.

The immediate benefit of a gift of real estate with retained life estate is often a substantial tax deduction for the charitable gift. This deduction is equal to the remainder interest in the property, (the appraised fair market value of the real estate less the calculated value of the retained life use).

As with other gifts of real property, it is the donor’s responsibility to obtain an independent appraisal of the value of the property. The income tax deduction can mean significant tax savings in the year of the gift and may be carried forward for up to five additional years, to a limit of 30 percent of the donor’s adjusted gross income each year. The President of Santa Rosa Junior College and the SRJC Foundation Board of Directors must approve all gifts of real property.

Learn More:
Bequests
Charitable Gift Annuity
Charitable Remainder Unitrust with SRJC Foundation as Trustee
Charitable Remainder Annuity Trust with SRJC Foundation as Trustee
Charitable Lead Trust
Retained Life Estate
Bargain Sale
Revocable Trusts
Generation-Skipping Transfers
Gifts of Retirement Plan Interests