Including ICC in your estate plan can be a simple way to make a significant gift to the Foundation. You may choose to name the Foundation in your will, or as a beneficiary of a retirement plan or insurance policy.
Please use the following designation: Illinois Central College Educational Foundation, East Peoria, Illinois
There are many other ways to make a gift through your estate:
The Foundation gladly accepts real estate and does so on a case-by-case basis. We may require an environmental site assessment. Due to the cost associated with gifts of real estate, only gifts estimated to be valued in excess of $10,000 will be accepted. Properties with mortgages will be considered on a case-by-case basis. Mortgaged property is not acceptable for charitable remainder trusts.
Charitable Remainder Trust
The trust is created by you as the donor with an irrevocable transfer of assets into the trust which then pays you a fixed dollar amount for life or a designated term. You can also provide income for others, if you desire. At the end of the trust term, the remaining principal is distributed to the ICC Educational Foundation. This is a great way to make a generous gift to the Foundation during your lifetime. The trust can provide a fixed, steady income to you or another beneficiary. You save taxes by removing assets from your estate and completely avoid capital gains taxes on any appreciated interest. You also receive an income tax deduction based on the projected value of the ultimate remainder gift to the Foundation.
Charitable Remainder Unitrust
You irrevocably transfer assets to a trust, which will then pay you income annually for life or a designated term based on a fixed percentage (not less than 5%), determined by the fair market value of the trust assets as revalued each year. You can also provide income for others, if you desire. You avoid capital gains tax and save taxes by reducing your estate. You will receive an income tax deduction, which can be carried forward up to five years.
The ICC Educational Foundation has several easy-to-understand brochures on planned giving options. Please mark any of the brochures below, provide your name and address and we will be happy to send them to you with our compliments.
To receive any of these brochures by mail, please check the boxes below of the ones you wish to receive, provide your name and address, and "Submit" the form.