MC GIVES Student Scholarships to support dreams

The Monterey County Gives is accepting donations now through December 31, 2022. Show our students some love by posting a donation of any size. CLICK HERE to make your gift to support student success through scholarships today!

TIME FOR GIVING Options for year-end 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 call us. We look forward to helping you meet your year-end goals! There are many ways we can help you fulfill your philanthropic goals. Contact Vice President of Advancement and Development and Executive Director for the Foundation, Jackie Cruz at jcruz@hartnell.edu or call (831) 444-2446.

CREATE AN ENDOWMENT
Your Legacy Now and Forever

You already know the joy that comes from making a difference. When you join us in our mission, you have the immediate satisfaction of seeing your gift in action. An endowment gives you that same feeling, plus something more. It offers you the feeling of accomplishment knowing your positive impact will continue forever in your name, automatically.

A Simple Agreement
Something lasting forever sounds complicated, but it really is simple. An endowment has three essential parts:

• You make a gift to establish an endowment
• We sign an agreement with you detailing how the gift will be invested and distributed
• We handle the investments and distributions

How the Endowment Agreement Works
When you are considering an endowment, we work with you to word it, so it follows your wishes for all time, having the effect you desire. We create an agreement with all the details so you will know how the endowment will be invested and distributed.

We Do the Work – You Enjoy the Legacy
A major feature of the endowment is that once it is started, we do all the work. We invest the funds along with other endowed funds, creating economy of scale to maximize your endowment. We invest all our endowed funds according to our endowment policy. Set by our board, it generally provides that endowed funds are invested to produce stable, predictable growth. Each year a set percentage from your endowed fund is distributed according to your endowment agreement. If the endowed fund grows, so does your annual distribution. Your impact may become greater each year. You can also put a cap on your fund, so it ends after a certain term of years.

Possible for Everyone
You might think endowed funds are only for the wealthy. However, anyone can start one. You can create an endowment with your will or trust. It does not have to be created in your lifetime. In addition, you can fund it with an amazing array of assets. Real property (including life estates), life insurance, appreciated stock, investment accounts, jewelry and more are all possible sources of endowed funds.

To learn more about how an endowment can help you achieve your goals, please contact us. We welcome the opportunity to answer further questions and work with you and your advisors.

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.