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You have the power to help safeguard the future of Hood College. How? By making an endowed gift. Your gift is an investment in our future, helping us grow and thrive for years to come.
Help Hood Secure a Bright Future
Your gift to Hood's endowment helps the College ensure Hood's academic and financial strength forever. Endowment gifts can help the College in virtually every aspect of its mission.
What Endowment Really Is
What Endowment Does
Minimum Endowment Gift Levels
Effective June 2012, the Hood College Board of Trustees approved the following minimum gift levels that will provide enough earnings each year to fund the areas listed. Hood's development professionals will work with you to understand your desires and discuss funding options, which may include multi-year pledges and deferred gifts.
|Endowed Faculty Chair (supports the salary and fringe benefits of a senior member of the Hood College faculty)||$2,000,000|
|Named Lectureship or Fellowship (provides partial support for a junior or part-time faculty member or for a visiting artist or scholar)||$500,000|
|Faculty Development Fund (supports travel, research and education costs for a specific department or for the faculty in general)||$100,000|
|Endowed Scholarship Fund (to provide support for students)||$50,000|
|Named Prize (awarded to an outstanding student or faculty member)||$25,000|
Legal Name: Hood College
Address: Frederick, MD
Federal Tax ID Number: 52-059-1608
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 Hood 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 give to Hood College, a nonprofit corporation currently located at Frederick, MD, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
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 Hood 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.
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 Hood 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 Hood 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 Hood where you agree to make a gift to Hood 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.