ADVOCATING FOR EDUCATION
Leading by example

No one is happier to see the King City Education Center expand than former Center Dean, Paulette Bumbalough.

“I am so thrilled to see this addition to the Center,” she said. “I am very proud that Hartnell College is in our town.”

This mother to three daughters, grandma to 15 and great-grandma to 8 stays busy volunteering and giving back to her beloved community in South County. She is an advocate for youth and higher education.

“I am a big believer in higher education and so inspired by students who come up to me after years have passed, and talk about how they love having Hartnell College in King City,” she said.

Bumbalough is a Hartnell College alumna; she worked on the main campus in Salinas for 13 years before taking the role of dean in 2003 when the King City campus opened. She retired in 2015, but she admits retirement has kept her busy.

“I am busier now! But I love it,” she said. “I am involved in many non-profits.”

Paulette was born in Hawaii. That’s where she met her husband, Jerry. They moved to Monterey County 40 years ago and made King City their hometown 20 years ago. Jerry passed away in 2019.

Bumbalough volunteers for various organizations in King City and is part of the King City Expansion Committee for the King City Education Center. Paulette is also a donor to the expansion and an active Rotarian.

“I love to give in volunteering time and in donations,” she said. “In leading by example, others will also be inspired to give and be as excited as I am about Hartnell.”

IRA Charitable Rollover A Sweet Choice 

If your IRA is life’s dessert, the thought of paying taxes on a distribution you would rather not take may leave a sour taste in your mouth. It does not have to.

There is a sweeter choice. Rather than take the required minimum distribution, call your IRA administrator and ask them to gift all or part of the RMD to Hartnell College Foundation. Make sure the distribution comes directly to our mission and not to you. When you do, you:

• Do not pay income tax on the distribution
• Satisfy your RMD up to $100,000

To learn more, please contact Jackie Cruz at jcruz@hartnell.edu or at (831) 444-2446. We would welcome the opportunity to answer further questions and work with you and your advisors.

YOU HAVE OPTIONS End-of-Year Giving  

If you are like many of us, you are looking to save money on this year’s taxes. There are ways to make a year-end gift, other than a cash gift, and still enjoy valuable tax benefits. Here are just a few of the options, you might want to consider for your end-of-year planning: 

• GIFT OF YOUR PROPERTY

Do you have CDs, stocks, or bonds that are producing little or no return? Why not make a gift of these low-performing assets to us, and receive a charitable deduction? You can also give your real estate, art, or other property, and benefit from a deduction.

• GIFT OF YOUR PROPERTY FOR INCOME

If you are looking for income in the future, why not make a gift of property to fund a charitable gift annuity or charitable remainder trust? Your property can be sold tax-free, and you may receive income for the rest of your life. With a charitable gift annuity, this income is fixed so there is the possibility that some of your payment will be tax-free.

• FUTURE PROPERTY GIFT

Did you know there are gifts everyone can make to benefit from charitable giving? If you don’t want to give your stock or real estate today, you can still enjoy your property during your lifetime while making a gift to us through your will or trust. A bequest of your property will provide your estate with an estate tax charitable deduction, which means the money saved can go to your loved ones.

To learn more about these options for end-of-year gifts, or to view an illustration of the benefits of making a gift of your property, please contact Director of Philanthropy, Kristine Edmunds at (831) 755-6903 or kedmunds@hartnell.edu. We look forward to helping you meet your year-end goals!

LEGACY SOCIETY Why you should join today! 

Inspired by Hartnell’s 2020 Centennial, we continue to encourage you to join the Legacy Society in order to ensure that Hartnell Community College District continues to thrive for the next 100 years and beyond! Your estate gift creates bright futures for our students. Here are some advantages of joining the Legacy Society:

• You have the great satisfaction of making an impactful investment in the lives of generations of our students, their families, and the future of our community
• Your taxwise gift from your estate to the Hartnell College Foundation may reduce your federal estate taxes
• If you let us know of your plans, we will be able to thank you and recognize your legacy as a member of the Hartnell College Foundation Legacy Society
• You will make a lasting impact in the lives of Hartnell students and our community
• You will accomplish your taxwise planning goals
• You will advance your legacy to represent what is most important to you
• Through your leadership, you will encourage others to make their gifts, thereby expanding your impact

Please visit hartnell.giftlegacy.com for further information as you take the next steps, including working with your professional advisor. Contact Kris Edmunds at kedmunds@hartnell.edu or by phone at 831-755-6810 to discuss any questions you may have about making your planned gift.

ESTATE PLANNING GUIDE We are here to help you plan

Did you know that approximately 70% of Americans have no Will?  Without a Will, there are some disadvantages:

1. The State has made a Will for you and you may not like what it says.
2. Your spouse will not automatically inherit everything. 
3. The courts, not your family, have control of your money and property (estate), which are distributed according to inflexible state laws rather than your desires.
4. If you are married and you and your spouse die together, you will not have a say about who will raise your minor children. The courts will decide and may appoint someone as a guardian whose values and lifestyle are different from yours.
5. The courts can choose a stranger or someone whom you would not want to serve to handle the settlement of your estate, and it may be expensive.
6. You will not have the opportunity to leave a charitable bequest to your favorite charities. 
7. If you have minor children, money can be tied up in the courts that may be needed for their care. 
8. When each child reaches the age of majority (age 18 in some states), he or she receives an inheritance all at once in a lump sum. 

Is the thought of estate and financial planning overwhelming? We can help! Contact us to provide you with an Estate Planning Guide packed with tips and strategies to help you plan or update your will or trust and secure your future. By having the Estate Planning Guide completed, you will save time and money on attorney fees.

To get your free copy, please contact me at jcruz@hartnell.edu or my cell at 831-444-2446. 

PLANNING FOR THE FUTURE The benefit of a bequest

Thank you for your generous support of our organization and our charitable mission. Your gifts are an important and significant affirmation of your trust and lasting confidence in our organization. With your help, our work will continue well into the future.

As someone who plans well and looks to the future, we would like to ask you to consider complementing your annual gifts with a long-term investment in our mission. You can increase the impact of your giving and leave a lasting legacy by including a testamentary gift, sometimes referred to as a bequest, to Hartnell College Foundation in your will or estate plan.

The benefit of a bequest is that it will not change your lifestyle. You can choose to leave cash, stock, real estate, a percentage of your IRA, or your estate to Hartnell College Foundation in your will, while also continuing to control and use your assets. Should you choose to include us in your plans, your gift will make a lasting difference to those we serve.

If you need assistance with estate planning, we have resources that can help you and your attorney.

Please do not hesitate to contact me at 831-444-2446 or email me at jcruz@hartnell.edu with questions or to let us know how we can serve you.

ENDOWMENTS Plan for your life’s journey

We ask that you consider making a gift to fund a life income arrangement, such as a charitable gift annuity or charitable remainder unitrust. The benefits to you may include lifetime payments and tax savings. After you have received all payments, the remainder assists us in furthering our cause.

To make an even greater impact on our work, you can designate your gift to our endowment. Contact us for a free illustration of these plans to see how you could benefit and create a lasting legacy to sustain our work.

Call or email us so we can give you directions for a smooth journey. Contact our VP of Advancement and Development/Executive Director for the Foundation, Jackie Cruz at jcruz@hartnell.edu or call 831-444-2446.

A BENEFICIARY DESIGNATION GIFT TO IMPACT OUR WORK
A tax-wise way to leave a legacy

Etta and her late husband Luther had been longtime supporters of an organization. She had been thinking about how she could make a significant gift to support their work. She met with her attorney to explain her goals and describe her assets. Originally, she thought about leaving her IRA to her kids and other assets to charity.

Her attorney suggested a different strategy. He explained that if her children inherited the IRA, the estate would pay estate taxes, and her children would pay income taxes on
the IRA. But, by giving the IRA to charity and other assets to her children, Etta could still provide a nice inheritance to her children while avoiding the income tax!

Etta contacted her IRA custodian, who sent her an IRA beneficiary designation form. She completed the form, named the organization as the primary beneficiary of her IRA, and mailed the form back. Etta was thrilled with the plan.

If you are interested in or have questions about making a beneficiary designation gift to impact the work of our organization, please contact Vice President of Advancement/Development and Executive Director, Jackie Cruz at (831) 444-2446 or email jcruz@hartnell.edu to help you plan for your future.

GIVE YOUR IRA WINGS

If you feel weighed down with the thought of taking your IRA required minimum distribution, then give it wings. Rather than take the RMD, take your IRA to new heights by making the distribution directly to our organization instead.

There is nothing like the feeling when an airplane’s wheels leave the ground. It means you are on the way to your next vacation, business meeting, or family reunion. “Takeoff” means something great is about to begin.

As you come in for a landing this year and prepare to take off for the next, it is worth a few moments to make sure you touch down safely and prepare for your next flight with good estate planning.

Avoid the turbulence of paying taxes.  Call or email us so we can give you directions for a smooth flight. Contact our VP of Advancement and Development/Executive Director for the Foundation, Jackie Cruz at jcruz@hartnell.edu or call 831-444-2446.

PLANNED GIVING Estate Planning Made Easy

In a nutshell, estate planning is as simple as what you want to be done with what you own. The good news is that you can provide for the people and causes important to you by taking simple steps now.

While an attorney should always draft your will, we can help demystify the process and prepare you for meeting your attorney with these simple steps:

1. Itemize your assets
2. Organize your estate
3. Write down questions
4. Review your plans for family
5. Consider charity
6. Visit your attorney
7. Update your plan

Creating your plan for the future can be easy and even enjoyable. Call Vice President of Advancement/Development and Executive Director, Jackie Cruz at (831) 444-2446 or email jcruz@hartnell.edu to help you plan for your future.