The gift of education changes lives, changes the paradigm of families forever and helps ensure the success of our future workforce. A gift in your will or living trust is a simple way to extend your support of SPC and our students after your lifetime.
Bequests, charitable remainder trusts, gift annuities, IRAs and gifts of property are some of the ways you can provide significant and lasting support to SPC. Your well thought-out planned gift ensures a bright future for St. Petersburg College students and may save you income, capital gains, gift and/or estate taxes.
How does this kind of gift work?
When naming St. Petersburg College in your will or living trust, you can give a percentage of your estate or a certain amount of cash, securities or property. After your lifetime, St. Petersburg College Foundation will use your gift to advance excellence in education at St. Petersburg College. Although this is one of the simplest ways to support SPC’s future, we encourage you to consult a qualified estate planning attorney. Your attorney can help you create a bequest that allows you to meet your personal, financial and philanthropic goals
What are the main benefits of a bequest?
Bequests are consistently among the most popular ways our supporters choose to provide long-term support for the college and our students, in large part because this type of gift is so simple to set up. Here are two other key benefits of a gift in your will or trust:
- You can change your mind at any time.
A gift in your will or trust does not go into effect until after you are gone, giving you the opportunity to update or amend your gift at any time during your lifetime. Plus, since you’re not actually parting with assets today, you don’t need to worry that you won’t have enough to live on in the future should your circumstances change. This flexibility allows you to balance your generosity with your concerns about living expenses and future medical costs.
- You have options.
You can make a donation of a specific amount, but that’s not the only option. Most of us don’t have a firm grasp on the size of our estate, and because it’s hard to place a monetary value on belongings with sentimental meaning, making a gift of a percentage is preferred by many supporters. Whatever your final estate’s value, you can use a portion of it to benefit St. Petersburg College. Even a small percentage can make a significant impact on our students and programs.
I have already included the SPC Foundation in my will or trust. Do I need anything to do anything to let you know?
Please share this good news with us by calling our office at 727-341-3302. That way we can ensure that your gift will be used exactly as you intend. Plus, it would be our honor to thank you for your gift. Your generosity may also inspire others to consider this simple way to extend their support. We will respect any wishes regarding anonymity, of course.
Do I have a say in how my gift is used?
Yes. We welcome your thoughts and ideas about how the donation will be used. Most of our supporters create an unrestricted bequest, which allows us to use the assets to meet our most pressing needs at the time the gift is received. This is the preferred type of gift because it allows flexibility as student and college needs change over time. If you wish to support a specific program or fund, please share that information with us and we’ll work to accommodate your request.
I am interested in adding a gift to my will or trust. How do I get started?
First, you decide how much you would like to give and in what form— you can fund your gift with cash, securities, property or other assets. Then, share our sample bequest language with your estate planning attorney to create the gift. It’s that simple!
- Sample Bequest Language:
“I, [name], of [city, state, ZIP], give, devise and bequeath to St. Petersburg College Foundation, Inc. [written amount or percentage of the estate or description of property] to promote student success at St. Petersburg College.”