- Student Life
- Support SC
Stocks and Bonds
Gifts in Recognition and Honor
Wills and Trust
Real Estate and other Personal Property
Donor Advised Funds
Gift Planning Options
Individual Retirement Accounts
There are numerous ways to financially support Sterling College. Here are eight of the most common:
- Give securely online.
Give by mail. Gifts made by check should be payable to Sterling College and mailed to:
125 W Cooper
Sterling, KS 67579
- When making a gift by check, please remember to include a gift or pledge card or a statement indicating your gift's purpose.
- Give through an electronic funds transfer.
- Give by phone. Please call Theresa at (620) 278-4219 to give your credit card information over the phone.
Many employers have matching gift programs that will match any charitable contribution made by their employees and, in some cases, their retirees. These programs can increase the size of your gift to Sterling College. For more information, please see matching gifts.
Gifts made to Sterling College are tax deductible under Section 170 (b) of the Internal Revenue Code and qualify for the maximum tax benefits available for charitable giving under federal income, estate and gift tax laws.
Your gift of appreciated marketable stocks or mutual fund shares can provide significant support for Sterling College. It also may offer you important tax benefits.
Rather than selling your appreciated securities and donating the proceeds, consider transferring them to Sterling College. This is likely to increase the value of your gift because you will not incur sales expenses and your transfer will not generate a taxable capital gain.
If your securities have decreased in value since you acquired them, it may be to your advantage to sell them, report the capital loss deduction and donate the proceeds.
If you hold highly appreciated but low-yield stocks, consider using them to fund a charitable remainder trust or a charitable gift annuity to Sterling College. We can convert the stocks to income investments and provide you with a long-term income stream while minimizing your taxable capital gains. For more information on how a gift of real estate might work for you, please contact the Office of Gift Planning.
UBS Financial Services, Inc., Omni Center
121 Whittier, Wichita, KS 67207
By contributing commodities (wheat, corn, cattle, etc.) to Sterling College, you are benefiting students with the full cash value of your donation. For more information click here.
Gifts to Sterling College that honor those who were close to us are a wonderful way to recognize those who had a powerful influence on our lives. Unless you are making a gift(s) to Sterling's annual operations in honor or remembrance of someone, it is best to contact the College to discuss where to place a legacy gift(s) that will give the greatest presence and testimony to the honoree's legacy and also benefit the College's mission.
- Memorial Gifts
- Endowed Scholarship
Not only can a bequest support God's work at Sterling College, but it may provide significant savings in estate taxes.
We suggest four ways to consider a gift to Sterling through this document:
- Tithe your estate - follow the biblical directive of giving a tenth back to God. Simply place a paragraph in the beginning of your section on "distributions at death" to read... "I bequeath one-tenth of my total estate value to Sterling College, Sterling, KS 67579."
- Count the College as a Child - many of our alumni & friends have been following this option. If you have three children, then add Sterling College as a child and divide your estate four ways.
- Give your leftovers - after you have made any specific bequests that you desire, your final distribution directive would be . . . "I give and bequeath all the rest, residue and remainder of my estate to Sterling College, Sterling, KS 67579."
- Leave a specific bequest - you may have in mind a certain amount that you want to give to the College. In the distribution section of your document you would have a statement that says . . . "I bequeath $___________ to Sterling College, Sterling, KS 67579."
If you want your gift to go to a certain area or for a certain purpose - and we hope you will visit with a College representative about how best to designate your gift to fit your interest and the purposes of the College - you will want to state your designation following any of the suggested wordings above.
You may have noticed that the legal name of the College for estate documents is:
Sterling College, Sterling, KS 67579.
Whether your gift to Sterling College is through a Will or Trust, the wording is basically the same. Your legal counsel can provide the proper or needed adjustment.
We encourage you to visit with our Advancement Office about your desires concerning your legacy testimony to the college. We want to make sure your legacy gift is serving your interest and Sterling's mission.
You can plan your giving to the College during your lifetime. Sometimes it is beneficial for you to give money now and have it provide an income for you while you are alive and then come to Sterling at your death. This can be done through a:
Charitable Remainder Trust - You place an amount of money in a trust that is invested and provides you an annual income. At your death the money in the trust comes to the College. By doing this, you get a sizable tax deduction at the time you establish the trust that can be carried over for the next five tax years if you can use the deduction.
Charitable Gift Annuity - you place an amount of money in an invested fund with Sterling College. The College pays you a fixed amount each year based upon your age for the remainder of your life, no matter what the economy does and the remainder comes to the College at your death. This too, has tremendous tax advantages for you during your lifetime.
Sheila Bird would be happy to visit with you about these options so that you can decide whether they would benefit your particular situation while providing a future blessing for the college.
A gift of real estate to Sterling College is a unique way to provide a lasting benefit to Sterling and a convenient way for you to enjoy a charitable deduction. These gifts can include residences, farms, ranches, commercial property, vacation homes, oil and natural gas wells and royalties or undeveloped land.
The charitable deduction is based on the current fair market value of your property, and it can reduce the size and complexity of your estate. An added benefit to donating property is that, in most cases, Sterling College can assist in determining if a property should be held and managed, or sold with the profit being invested. In either situation, the income generated will benefit the purpose designated by the donor.
Not only can real estate be used to make outright gifts, it can also be used to make future gifts to Sterling. For example, real estate can also be used to fund a Charitable Remainder Trust or a Charitable Gift Annuity. A trust or annuity would provide you and/or another beneficiary with income for the rest of your life or lives. Ultimately, the remaining value would be transferred to Sterling College to benefit the area of the college you choose.
A retained life estate gift allows you to give your home to Sterling while retaining the right to live in it for the rest of your life. In addition to homes, other examples of real estate gifts include farms, income-producing property or undeveloped land.
For more information on how a gift of real estate might work for you, please contact the Advancement Office.
If you have a life insurance policy that insures against a risk you no longer have, consider naming Sterling College as the owner and beneficiary. By doing this you can use all former premium payments as a current tax deduction.
Your life insurance company can supply the forms necessary to complete this type of gift.
The Advancement Office is ready to consult with you and/or your advisor about gifts of life insurance to Sterling College, and to help with any questions about other charitable giving that may benefit you, your family, and Sterling College.
If you want to simplify and consolidate your charitable giving while directing disbursements to Sterling and other charitable organizations, consider establishing a donor advised fund. These funds allow donors to take an active role in benefiting organizations, and also provide an excellent way for families to build a tradition of giving.
The information on this site is not intended as legal, tax or investment advice. For such advise, please consult an attorney, tax professional or investment professional.
IRA Rollover ends December 31, 2014
If you are over age 70 ½, the Federal government permits you to rollover up to $100,000 annually from your IRA to Sterling College without increasing your taxable income or paying any additional taxes. These tax-free rollover gifts could be $1,000, $10,000 or any amount up to $100,000 this year. The gift satisfies your required minimum distribution (RMD) for this year. Download the forms needed to make this transfer.
Bequest of IRA
One option is to designate Sterling College as the beneficiary of your IRA. This permits you to continue to take withdrawals from your IRA during life and then leave the remaining value of your IRA to Sterling College.
Testamentary IRA Gift Annuity
Another option would be to use your will to fund a gift annuity with your IRA. The annuity will provide your family with fixed income for their lifetime or a set number of years, and will also provide a nice gift to Sterling College.
Testamentary IRA Unitrust
You could also use your will to transfer your IRA to a special “Give it Twice” trust. These trusts usually provide income to children for up to 20 years. Once all the income has been paid to family, the remainder of the trust is given to Sterling College.