Opportunities For Giving
Planned Giving
Planned giving is an investment in the future. In addition to helping with current needs, some friends of the College decide to remember the Foundation of Wayne Community College in their wills and estate planning. Many planned giving options offer significant tax benefits. A professional knowledgeable in estate planning can help you make decisions about legacy gifts.
Establishing an Endowment
An endowment fund may be created with a minimum gift of $30,000. Funds may be opened for smaller sums only when there is a commitment that the endowed fund will grow within a reasonable period of time (four years or less), eventually reaching $30,000. The principal amount donated is never reduced and only the interest income is used to fund the purpose of the endowment.
Bequests
A bequest in your will to the Foundation of WCC can be a specified amount or a certain percentage after other specific bequests are fulfilled. Bequests made through your will do not affect your assets during your lifetime.
Charitable Trusts
For those with larger estates, a charitable trust can be used during the planning of your estate. You can create a charitable trust with cash, stock, or other assets, making a significant gift to Wayne Community College, while also reducing the tax burden for your estate.
Direct Gifts
You can make a direct cash gift to the Foundation of Wayne Community College. When making these types of gifts please include instructions for the use of your gift. The uses of these gifts include, but are not limited to, the Arts and Humanities Program, the annual Scholarship Invitational, and the Unrestricted Fund.
Honorarium/Memorials
Gifts may be made to the Foundation to honor or memorialize a friend, family member, or loved one. Such gifts will be acknowledged appropriately.
Corporate Matching Gifts
Many companies match charitable contributions made by their current or former employees or board members. This is an excellent means to multiply the amount of a gift. Ask your HR department.
Gifts in Kind
Gifts in kind are donated tangible and intangible assets and property. Some examples include artwork, books, equipment, automobiles, and artifacts. These gifts must be reviewed with special care to ensure their usefulness to the College’s programs. All gifts are subject to approval prior to acceptance. To make a gift, please complete the Gift-in-Kind form and submit it to the Foundation.
Retirement Plans
An individual may name the Foundation of WCC as a residual beneficiary of an IRA, 401(k), 403(B), TIAA-CREF, KEOGH, VALEC, or other retirement plan accumulation and/or another corporate benefits program. Please contact your retirement plan administrator, fund custodian, financial advisor, or attorney to discuss how to make a change in the plan beneficiary.
Life Insurance
Another possible way to remember the College is by making the Foundation of Wayne Community College the beneficiary of a retirement account or a paid-up life insurance policy. If you are considering this type of gift, please remember that you will need to change the beneficiary information on the account or policy.
Stocks, Bonds, and Mutual Funds
Giving shares of appreciated stock, bonds, mutual funds, and other securities can be used to make a gift to the Foundation of WCC. Securities accepted by the Foundation are generally sold as soon as practical. No agreement shall be made with a donor prior to or subsequent to a gift that such securities will be held for any period of time. When you donate securities, rather than cash, you do not pay any capital gains tax on the appreciation in the securities and you receive a deduction for their full market value on the date of your gift.
Before making a securities gift of any kind, please contact the Foundation office. We will provide the necessary information to make sure the transaction is handled to your specifications and you receive proper credit for your gift.
Naming Rights
The College has many naming rights opportunities. If you are interested in naming rights, please contact the Foundation office.
Rollover IRA
If you are at least 70 ½ years old, you may consider a qualified charitable deduction (QCD) from your IRA without paying income tax on your required minimum distribution.
Gifts to the Foundation Provide…
Foundation Scholarships
The Foundation awarded 499 scholarships this year. That was more than $326,000.00 dollars invested in education by caring donors. At the beginning of each year, a reception is held to honor the scholarship recipients and to thank the donors of the scholarships.
Excellence In Teaching Awards
An endowment established by an anonymous donor funds the George E. Wilson Excellence in Teaching Awards. The Excellence in Teaching Award is presented annually at WCC’s spring commencement to an outstanding faculty member. The recipient of the award receives a monetary stipend and the opportunity to attend NISOD, an international conference on Teaching Excellence. This year’s recipient is Mrs. Elizabeth King.
Staff Recognition
The Foundation annually recognizes four outstanding employees and awards them with the Employee of the Year Award. The award recipients receive a monetary stipend and are recognized at the College’s Holiday Celebration. This year’s recipients are Bill Roberts (Operational & Maintenance Staff), Laura Tilghman (Professional Support Staff), Lisa Newkirk (Professional Staff), and Chris Hartley (Adjunct Faculty).
Faculty Distinguished Chairs
A special gift has been given by an anonymous donor to the Foundation in recognition of WCC faculty members who have distinguished themselves at WCC and in the community at large. The annual gift of $11,000 allows us to award two distinguished chairs each year. The monetary award they receive is used for travel abroad or professional development. Recipients who travel must give a presentation of their experience to students, faculty, staff, and the community upon their return.
The following faculty have received the Distinguish Chair Award: 2004 – Peggy Womble and Beth Hooks; 2005 – Cindy Archie and Dr. Gene Smith; 2006 – Faye Best and Rosalyn Lomax; 2007- Kathryn Spicer and Rachel Hall; 2008 – Margaret Baddour and Charlotte Brow; 2009 – Craig Foucht and Phyllis Patterson; 2010 – Todd King and Anna Anaya-Vega; 2011 – Joanne McClave and Angela Wall; 2012- Tammy Bishop and Fe Finch; 2013-David Byrd and Janeil Marak; 2014- Maureen Loomer and Chad Pate; 2015-Katina Davis and Glenn Royster; 2016-Paul Compton and Duane Everhart; 2017-Angie Waller and Danny Rollins; 2018-Jennifer Johnson and Dr. Ernie White; 2019-LaRose Brock and Billy Tart; 2020-Bill Reboli and Dr. Brandon Jenkins; 2021- Missy Smiley and Ryan Bradshaw; 2022- Deniz Tuck and Steven Reese; 2023- Lynn Swafford and Angie Blizzard; 2024- Kim Boswell and Kevin Jordan.
Karl M. Best Agricultural Leadership Program
A gift from the estate of Karl M. Best to the Foundation led to the development of the Karl M. Best Leadership Program. Sponsored annually by the Foundation and the Wayne County Cooperative Extension, the program is designed to help develop leadership skills among farmers in our farming community as well as among agribusinesses. With the demise of local farms, there is a greater need to establish leadership within the farming community and to have a voice in local, state and national policies.
The gift also provides scholarships to students enrolled in WCC agricultural programs. The Best Family, Lillie, Myra and Johnny, continue to stay involved in the Leadership Program.