Hillsborough Community College Foundation hccfoundation@hccfl.edu • 39 Columbia Drive • Tampa, FL 33606 • (813) 253-7114 Frequently Asked Questions
Q: What is the quickest way to help? A: Write a tax-deductible check today to Hillsborough Community College Foundation and mail it to 39 Columbia Drive, 7th floor, Tampa, FL 33606. ________________________________________ Q: What kinds of gifts can I make? A: Gifts can include cash, check, securities, matching gifts, corporate and foundation grants, real estate, collectibles or other valuables, non-cash, or naming the College as a beneficiary of a life insurance policy or retirement account. ________________________________________ Q: Why does HCC need my financial support? A: Even though the college receives some state funding, it does not cover all the costs associated with the activities of the institution. In fact, about 60% of the college's overall budget is provided by the State. State funding for higher education has not kept pace with HCC's significant increase in enrollment growth during the past 5 years. More than ever, we need private assistance to continue quality instruction, varied career preparation and scholarship assistance. ________________________________________ Q: Is my gift tax deductible? A: Yes, your contributions may be tax-deductible in the year you make the donation, as HCC Foundation, Inc. is an IRS-approved 501(c)(3) non-profit organization. Each donor is provided a receipt for their gift, as required by the IRS. Please contact your tax advisor to determine the eligibility of your gift. ________________________________________ Q: Does your organization have a matching program? A: Some gifts may be matched by the donor's employer. Call your Human Resources department to get more information and secure a form to submit with your donation. Once received by the HCC Foundation, we will send the form back to your Company to get their matching contribution. ________________________________________ Q: Can I designate my gift to a particular area? A: We encourage you to make an unrestricted gift because it allows the college the much needed flexibility to provide funding for its most critical needs. If you wish, you may restrict your gift to a particular area like scholarship or college support ________________________________________ Q: I can't give now, but I want to help. What can I do? A: Name the college as a beneficiary of your estate. You can specify the amount or percentage and purpose of your bequest; or, pledge an amount and pay the gift in installments. ________________________________________ Q: Are there volunteer opportunities? A: Yes, you can help us to plan and carry out events. Events such as: Fall - Golf Tournament Spring - Presidential Reception
________________________________________ Q: What credit cards are accepted? A: The five major Credit Cards are accepted: Visa, MasterCard, American Express, Discover, and Diners Club. ________________________________________ Q: What is an endowment? A: Endowments are permanent funds whose investment earnings create the revenue for scholarships. ________________________________________ Q: Where do I mail my gifts? A: Gifts may be mailed to: HCC Foundation, 39 Columbia Drive, 7th floor, Tampa, FL 33606 ________________________________________ Q: How can I give? A: HCC Foundation gratefully accepts cash, checks or credit cards. ________________________________________ Q: You would like to give Stocks and Bonds? A: If you donate stock that has risen in value and that you've held for more than one year, you may pay no capital gains tax on the transaction and are entitled to a charitable deduction for the full fair market value of the stock. Your income tax deduction is limited to 30 percent of your adjusted gross income. Any excess can be carried forward for five additional years. If you have stock losses, generally you should not contribute the stock, but rather sell the stock yourself to realize the loss for tax purposes. You can then contribute the cash and take a charitable deduction. Please contact your tax advisor to determine the eligibility of your gift. ________________________________________ Q: You would like to give Real Estate? A: If you own property that is not subject to mortgage and has appreciated in value, a charitable gift may be an attractive option. You can claim an income tax deduction based upon the fair market value of property, avoid all capital gain taxes, and remove that asset from your taxable estate. Please contact your tax advisor to determine the eligibility of your gift. ________________________________________ Q: You would like to give Equipment? A: The Foundation accepts equipment that can be utilized by the College or can be quickly sold. It is best to contact the Foundation Office to discuss potential equipment before making such a gift. ________________________________________ Q: Life Insurance? A: You can make a substantial gift with modest premium payments, or paid-up policies that are no longer needed for family members. ________________________________________ Q: You would like legal advice? A: Consult your tax advisors (attorney and tax accountant) for legal advice regarding gifts or donations. ________________________________________ Q: Are there opportunities for named or memorial gifts? A: There are many opportunities to make named gifts or gifts in memory of a loved one. Any donors interested in these kinds of gifts should contact our office at (813) 253-7114. ________________________________________ Q: Will donors be recognized? A: All donors will be recognized in our Foundation Annual Report. Specific gift amounts will not be included; however, names will be listed by giving ranges. ________________________________________ Q: You have more questions? A: You can call our office at (813) 253-7114 if you have further questions or want to schedule an appointment to discuss your interest in supporting HCC. |
