Naming the Gulf Coast State College Foundation, Inc., as a beneficiary in a will, insurance policy, or trust allows you to influence and touch the future by enriching the lives of generations of students.
A planned gift is a contribution that is intentionally designed to give the maximum benefits to you, your family, and the organization you choose to benefit. It can be given in many forms.
The simplest method is to remember the Gulf Coast State College Foundation, Inc., as a beneficiary in your will or life insurance policy. A gift of $20,000 can endow a named scholarship in perpetuity. Gifts of greater amounts can receive other naming recognitions on the GCSC campus appropriate to the level of the contribution.
Making a planned gift doesn’t have to be complicated. Wills can be amended through a simple codicil without the need to rewrite the original agreement. A memorandum of understanding can be arranged with the GCSC Foundation outlining the conditions and eventual use of the deferred gift when it is received.
A gift of a life insurance policy owned by the Foundation can result in a donation of many times the cost of the policy and savings in federal income taxes.
Gifts of appreciated securities, mutual funds, property, and/or collections provide donors the opportunity to receive an income tax deduction while minimizing the capital gains tax that would be owed otherwise.
Representatives of the GCSC Foundation would welcome the opportunity to talk with you and your attorney or financial advisor about these issues. While we cannot provide legal advice or estate planning, we can outline options and offer general suggestions. We would also be pleased to refer you to professionals who specialize in these areas.
For more information, please visit our “Learn More” link or call a Foundation Representative at 850.872.3810.
Working today. Giving tomorrow.
Dr. M. Melissa Lavender
Dr. Melissa Lavender is currently Vice President of Student Affairs at Gulf Coast State College. She wanted to give back to the College by supporting the Gulf Coast State College Foundation in a philanthropic way that appealed to her belief in paying forward.
“I met with my financial advisor and realized that I could name the Foundation as a beneficiary on a life insurance policy. I felt this would be a great way for me to give upon my death. I could basically give after my time is done,” noted Lavender.
Many people today are using their life insurance policy as a way to help provide a generous gift in the future. “It was very easy to do. I just notified the Foundation of my intent and my financial advisor completed the paperwork,” said Lavender. “I feel better knowing that I am leaving a lasting legacy here at the College.”
Leaving a Legacy
The Irene d Toske Estate
Ms. Irene d Toske was a long-time resident of Bay County and married for 42 years to Mr. Willard Toske. Together they held a very strong conviction that education will enable a person to be able to contribute to improving the overall human condition. They believed in staying loyal to their convictions and choose to support their beliefs through their Church and Gulf State College Foundation. Their generous and continued support of the Foundation throughout the years has helped GSCS students.
Mr. and Mrs. Willard Toske are no longer with us. However, Ms. Toske has left a legacy that will foster their convictions through a charitable bequest to the Foundation. Her generous gift has established an endowed scholarship that will uphold the Toske’s beliefs and will enable students to receive an education to contribute to improving the human condition is perpetuity.