When you transfer assets to the HACC Foundation to establish a trust, you or your beneficiaries will receive a lifetime income. Eventually, the remaining assets of the trust will pass on to the HACC Foundation. This gift works particularly well for those who need an ongoing revenue stream. Be sure to work closely with your accountant, attorney and the HACC Foundation to complete proper documentation.
Please make all checks to payable to the HACC Foundation and mail to:
PO Box 8915
Lancaster, PA 17604-9966
HACC's College Pathways program is making a difference in the lives of Central Pennsylvania's high school students. Your Educational Improvement Tax Credit (EITC) donation can help!
HACC's College Pathways program helps high school students to jumpstart their college careers. In 2013-14, more than 200 high school students attended HACC's College-in-the-High-School (CHS) program thanks to generous EITC donors.
You can support highly motivated students like these by:
- Registering your business in Pennsylvania's EITC program
- Making a gift to the HACC Foundation's EITC fund to support scholarships for our CHS students
"Many of these families know they will need to rely on financial aid to assist in paying for college. With financial aid unavailable to high school students, EITC plays a large role in giving students the opportunity to take college classes... It is one thing to know that their family and high school support their decision to start college early; it is another thing to know that their community - those of you who contribute to EITC - supports and encourages their decision."
- Heather Collins, Director, College Pathways, HACC
As an EITC-approved business, you will be eligible to receive a tax credit equal to 75 percent of your gift (90 percent if you agree to contribute the same amount for two consecutive years), up to $750,000 per taxable year.
Eligible businesses are authorized to do business in Pennsylvania and are subject to one or more of the following taxes:
- Corporate net income tax
- Capital stock franchise tax;bank and trust company shares tax
- Title insurance companies shares tax
- Insurance premiums tax
- Mutual thrift institution tax
- Personal income tax of S Corporation shareholders
- Partners in a partnership or a limited liability company single member
Business applications are approved on a first-come, first-served basis by date received. Historically, tax credits have been completely expended the first day applications were accepted.
- Go to www.newPA.com/EITC.
- Complete and submit an online application using the state Department of Community and Economic Development's (DCED) Single Application for Assistance.
- Designate the HACC Foundation as a recipient of your organization's Educational Improvement Organization (EIO) donation.
- Submit your new business application beginning July 1 of each calendar year.
- Submit your renewal application beginning May 15 of each calendar year, if your business is currently in a two-year commitment or has recently completed a two-year commitment.
For more information, go to www.newPA.com/EITC.
Please apply to the EITC program and consider designating HACC. Questions? Contact email@example.com form more information. Thank you!
Please note that this information is tentative and subject to change and that all circumstances are different. This information is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Please consult your attorney or financial advisor for more information.
Many employers will match the charitable donations of you or your spouse. Please check with your employer to see if the company participates in such a program. If so, we urge you to take advantage of this opportunity.
To contribute online, please:
- Visit www.hacc.edu/givenow
- Select your preferred fund
- Select "Other Fund" at the bottom of the Web page if your preferred fund is not listed; then type the name of your preferred fund in the "Name of Fund" field on the next Web page
- Follow the remaining instructions
Using payroll deduction
(pdf), HACC employees have the unique opportunity to contribute to scholarship and program funds that directly impact YOUR students and programs at HACC! Your support will continue to provide opportunities for our students to earn a top-quality education using the best available technology and equipment without incurring crushing amounts of debt in the process. Thank you for your dedication and support!
Generous individuals have donated works of art, books, equipment and other gifts of personal property to the College, depending, of course, on whether there is need for such items. If the College chooses to accept an item, then your deduction will be based on that item's appraised value. It is important that you work with one of our fundraisers to determine if your personal property is needed at the College. Please contact us at firstname.lastname@example.org for more information.
Charitable gift planning allows you to support issues and causes that matter to you long into the future. By so doing, you may realize substantial tax, estate planning and other financial benefits.
- Bequests are the simplest of all planned gifts. You can choose to leave specific named assets to the HACC Foundation, a stated amount, or you can determine the residual or a certain percentage of your estate to benefit the College. If you are considering remembering HACC in your will, now is the time to plan with your attorney and a representative of the HACC Foundation. For your convenience, we have sample bequest language (pdf) that you may use.
Life Insurance - Life insurance policies that are no longer needed make good gifts. You simply change the beneficiary and the ownership of a paid-up policy to the HACC Foundation, or purchase a new life insurance policy naming the HACC Foundation as beneficiary and owner.
If you own property that is not subject to a mortgage and that has appreciated in value, you may want to consider a charitable gift in connection with that property. You can claim an income tax deduction based upon the fair market value of the property. We invite you to contact the HACC Foundation at an early stage in your planning to ascertain how the College might best use your property.
Designating the HACC Foundation as a beneficiary of a portion of your retirement funds is a very generous act. If you decide to make such a gift, be sure to list the HACC Foundation with the administrator or person in charge of your IRA, profit sharing account or other retirement plan. There are many ways to contribute to HACC, and we value all of them greatly.
Net proceeds from sponsorships will support the President's Fund for Excellence, which is used for the College's critical needs, and the HACC Foundation scholarship program. Your contribution to the HACC Foundation is tax deductible (except for goods and services). To learn about current sponsorship opportunities, please go to www.hacc.edu/HACCFoundation/SpecialEvents/index.cfm.
Bestowing a gift of stocks and bonds can offer highly favorable tax advantages for the giver. If you donate stock that has risen in value and that you have held for more than one year, you will be entitled to a charitable deduction for the full fair market value of the stock. Your accountant and attorney can advise you as to when it is optimal to gift your stocks and bonds and what you nee to do to assure proper documentation.
When you give highly appreciated securities to the HACC Foundation, the Foundation receives the full value of those securities and you may receive a tax benefit.
For instructions on how to contribute through stocks and bonds, please contact the HACC Foundation.
Donors to the HACC Foundation may experience tax and income benefits. For example: