Individuals who make a planned gift to Linfield, either through a bequest in a will or living trust or a remainder designation in a life-income gift, retirement plan or life insurance policy, are recognized through membership in the Linfield College Founders' Society.
The Founders' Society was created so that the college could offer its thanks during the lifetimes of the many generous individuals who make these gifts from their life's work through any of the many gift plans. The most common method of securing membership in the Founders' Society is by making Linfield a beneficiary of your estate. You don't have to be wealthy to be able to make a significant impact on the future of Linfield through an estate gift. Over the last ten years, estate gifts have provided an average of $1.6 million in annual gift revenue to Linfield. With the bulk of these gifts designated for the college's endowment, these gifts strengthen Linfield's stature as a leading, small liberal arts college for generations to come.
Founders' Society members are invited to and recognized during an annual luncheon held during Homecoming weekend in the fall, and their names are listed in Linfield's Honor Roll of Donors.
If you've already completed a gift plan that includes Linfield, but haven't yet notified anyone at the college about it, please contact Craig L. Haisch ‘95 at email@example.com or at 503-883-2675 or fill out our letter of intent form (PDF) so that we can thank you for helping strengthen the Linfield experience.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
A charitable bequest is one or two sentences in your will or living trust that leave to Linfield College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.
an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan
"I hereby give _________ (specific dollar amount or % of estate) to Linfield College, located at 900 SE Baker St in McMinnville, Oregon (federal tax identification number 93-0391586) for _______________ (specific purpose, if any)."
able to be changed or cancelled
A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.
cannot be changed or cancelled
tax on gifts generally paid by the person making the gift rather than the recipient
the original value of an asset, such as stock, before its appreciation or depreciation
the growth in value of an asset like stock or real estate since the original purchase
the price a willing buyer and willing seller can agree on
The person receiving the gift annuity payments.
the part of an estate left after debts, taxes and specific bequests have been paid
a written and properly witnessed legal change to a will
the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will
A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Linfield or other charities. You cannot direct the gifts.
An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.
Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.
Securities, real estate, or any other property having a fair market value greater than its original purchase price.
Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.
You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Linfield as a lump sum.
You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Linfield as a lump sum.
A beneficiary designation clearly identifies how specific assets will be distributed after your death.
A charitable gift annuity involves a simple contract between you and Linfield where you agree to make a gift to Linfield and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.