Opportunities for Support

The Office of Development presents contributors with a variety of financial options, which benefit both the donors and Lackawanna College. We also work with donors who make gifts through their estates while preserving assets for their current needs. Since the support of Lackawanna College is an ongoing project, we anticipate working over the long term with donors as they find the most advantageous way to make a meaningful gift.

Gift by Check
Cash gifts offer current tax benefits and have the added advantage of making an immediate impact on College programs.

Endowment of Theater Chair
The former Central High School auditorium is now known as the Mellow Theater. This beautifully restored facility contains over 1000 plush theater chairs. Each chair will bear the inscribed plaque of a donor. The seat can be in honor of a deceased loved one, a teacher, individual or business.

Appreciated Securities
Your outright gift of long-term appreciated securities (stocks, mutual funds and bonds) has the additional advantage of being tax deductible at its full present fair market value while you avoid paying taxes on the capital gains.

Bequests
Many donors feel that they are able to make a large gift, with more peace of mind, under their wills. Bequests can take a variety of forms: a fixed dollar amount, a percentage of an estate or even a contingency should your other beneficiaries predecease you. A gift through your estate reduces or may eliminate federal estate taxes. Most states provide estate or inheritance tax benefits.

Gifts of Real Estate
You can make a gift of real estate to Lackawanna College and receive substantial financial benefits. If you wish to give property outright, you qualify for a charitable income tax reduction based on the appraised value of the property. If you are contemplating leaving your home through your will, you may want to consider giving it now but retaining the right to live in it for your lifetime. You will continue to pay taxes, insurance and maintenance costs. However, by giving now, you receive a substantial charitable income tax deduction in the year the gift is made.

Life Income Gifts
Gift annuities, deferred gift annuities, pooled income funds and trusts provide the donor with income for life. These vehicles pay a rate of return that often exceeds money market CD rates. In addition, some of these vehicles avoid capital gains taxes and reduce estate taxes.

Charitable Gift Annuity
A gift annuity is a contract between you and the College that provides advantages to both. You receive a guaranteed payment for life and a charitable income tax reduction. The payout rate on a gift annuity is based on your age at the time the gift is made. Income payments either begin immediately or can be deferred. Charitable gift annuities may be funded with cash, securities or property. Payouts may be made semiannually, quarterly or monthly.

The Pooled Income Fund
The pooled income fund is similar to a mutual fund. Your gift is pooled with the other donors’ gifts and is assigned a proportionate interest in the fund. The rate is variable. Ultimately, the gift will pass to the College to be used in accordance with your wishes.

Charitable Remainder Trusts
A Charitable Remainder Trust provides a lifetime income and a charitable income tax reduction. You select the payout rate, usually 5% -7%.  The lower the payout rate, the higher the charitable income tax reduction. An annuity trust pays a fixed, guaranteed dollar amount regardless of the trust’s investment performance. A unit trust pays the donor a predetermined percentage of the fair market value of the trust’s assets as revealed annually. Capital gains taxes are deferred on transfers of appreciated assets and estate taxes may be avoided or diminished.

Tangible Personal Property
Your gifts of art, antiques, jewelry and other personal valuables can also be used to support the College.

Life Insurance
Gifting a policy that is no longer required for its original purpose entitles you to an income tax reduction roughly equal in value to the cash surrender value of the policy.

Gifts of Retirement Plans
The College can be named as a beneficiary of a retirement plan. The College would receive any funds remaining in the plan after the demise of the donor and any other beneficiary.

Supporting the Annual Fund
Alumni giving is vital to the continued success of the program portfolio at Lackawanna College.  Our Alumni assist in promoting the mission of the College through unrestricted contributions that benefit a host of programs.  Building renovations, computer equipment, scholarships, theater endowment and athletics are just some of the on-going projects that are supported through Alumni donations.  There are no levels of gift recognition established for the institution’s Annual Fund.  LC seeks contributions, in any amount, from Alumni at their own individual comfort levels.

Your tax deductible contribution can be made by filling out the printable form.  All donor’s privacy requests are respected and strictly enforced.

Lackawanna College’s development staff is available to assist you in achieving your tax, estate planning and charitable giving objectives. Please contact the Office of Development at (570) 961-7818 with your questions or to receive assistance.

Bridget FitzPatrick, Director
(570) 961-7818
(570) 961-7858 fax
1-877-346-3552
fitzpatrickb@lackawanna.edu