Planned Giving

Confidential inquiries may be directed to:

Sonbol Aliabadi, Executive Director 
Sierra College Foundation
5100 Sierra College Blvd.
Rocklin, CA  95677
Tax ID #23-7241877
Direct phone number:  916-660-7021
Email:  saliabadi@sierracollege.edu

Sample Bequest Language

Gifts That Pay Income

The following gifts will be accepted for endowment purposes:

Charitable gift Annuities

The donor makes an irrevocable gift to the Foundation in exchange for a fixed income for life. The payout rate is determined by the age(s) of the individual(s) receiving the income. The donor receives an immediate income tax deduction (in some cases, a portion of the annuity income is tax-free), and the assets are removed from the donor’s estate.

Deferred Payment Gift Annuities

The donor makes an irrevocable transfer of assets to the Foundation now in exchange for a fixed income to begin at a specified date in the future. The longer the deferral of the income, the higher the payout rate and the tax deduction.

Pooled Income Fund

The donor makes an irrevocable transfer of money or securities (except those that are tax-free) to (NAME OF TRUSTEE) as trustee for a professionally managed pooled investment fund. Income beneficiaries are assigned units in the fund in proportion to the amount contributed, and income is paid to them for life from the actual earnings of the assets under management. Upon the death of the income beneficiary or beneficiaries, Foundation receives the remainder value of the units in the fund.

Charitable Remainder Unitrust

The donor transfers cash, securities or other assets to a trustee in exchange for the trustee’s agreement to pay an income to the donor that is equal to at least five percent or more of the net fair market value of the trust assets as determined annually. The trust will terminate at the death of the last of the beneficiaries, or a term of not more than 20 years, and the corpus and accrued income will be distributed to the Foundation. An immediate income tax charitable deduction is allowed for the remainder value.

Charitable Remainder Annuity Trust

The donor transfers cash, securities or other assets to a trustee in exchange for the trustee’s agreement to pay named beneficiaries a fixed sum of money – at least five percent of the initial fair market value of the trust assets. Once established, the annual amount never changes. Payments are made to the donor/beneficiary or to anyone designated for life or a period of time not to exceed 20 years. At the death of the last beneficiary or the expiration of the term of years, the trust will terminate, and the assets will be distributed to the Foundation. An immediate income tax charitable deduction is allowed for the remainder value.

Charitable Lead Trust

The donor transfers money or property to a trustee who makes payments to the Foundation for a specified number of years, after which the principal is returned to a designated non-charitable beneficiary, usually a family member. The income to the charitable beneficiary can be variable (unitrust) or fixed (annuity trust). The lead trust may provide the donor with a current income tax deduction and can assist in avoiding or reducing generation-skipping estate taxes.

Gift of Personal Residence or Farm with Retained Life Estate

The donor gives the property to the Foundation, but retains the use of it during his or her lifetime. During the donor’s lifetime, he or she pays the taxes on the property and is responsible for upkeep. The irrevocable transfer generates an immediate income tax deduction for the donor.

Planned Giving Council

The Sierra College Foundation can assist you and your advisors in developing an estate gift plan that serves you and the College. In addition, the Sierra College Foundation has a Planned Giving Council of professionals who offer free consultation to individuals who wish to consider making a gift to the Sierra College Foundation.

Legacy Society members, who include Sierra College in their estate plan or in a planned gift arrangement, enable Sierra to achieve its goals now and into the future. Legacy gifts help provide scholarships for students and vital support for the College's outstanding faculty. These planned gifts also help to build new buildings and enhance academic programs and services.

Benefits of Membership

• You join a group of other individuals who wish to leave their legacy to benefit the community and future generations through education.
• You become more involved with college activities as honored guests at special events such as graduation and participate in regular meetings of the Legacy Society.
• You may also participate in special events planned especially for you, including social activities and luncheons.
• You will be recognized on a permanent basis on Sierra’s “Wall of Fame.” Recognition may also be established for classrooms or other facilities.
• You will help provide a better life for future generations. Joining the Legacy Society is a generous act you’ll be proud of for the rest of your life.

Society Membership

Membership in the Legacy Society is offered to all individuals who have made a provision in their estate plans for Sierra College, regardless of the amount.

The following are examples of legacy gifts. The most common revocable (changeable) legacy gifts are:

• Bequests or gifts left by will
• Distribution from a living trust
• Joint titling of assets
• Pay (transfer) on death accounts

• A dollar or percentage amount
• A specific item of property
• The remainder
• A transfer to a Charitable Gift Annuity, Pooled Income Fund, a Charitable Remainder Trust, or a Charitable Lead Trust
• A contingent bequest