Ways to Give

Nevada State College Foundation, Henderson, Nevada

Private funds are important to the people who study, teach and conduct research at Nevada State College (NSC). Gifts of all sizes enable the college to respond to faculty, students and the community, to undertake opportunities for partnerships, collaborations and entrepreneurial steps forward, adjust to needs, opportunities and changing circumstances and to deal with special circumstances.

Your gift to Nevada State College Foundation pays extraordinary academic and societal dividends. Whether it’s in the classroom, the laboratory or the library, NSC students, faculty and alumni share high ideals and a powerful commitment to make a difference in the lives of those around us.

We invite our friends and supporters to join us in enhancing the margin of excellence that we are building at NSC, knowing that as the newest public institution of higher education in Nevada, we are focused on being exceptional stewards of the funds entrusted to us, and faithful to the high purposes that the College brings to Clark County, Southern Nevada and Nevada as a whole.

Below is a list of ways in which individuals can assist the College with special funding opportunities.

Cash

Cash gifts, which can be made using a check or credit card, are simple and the most common.. These gifts allow Nevada State College through the Foundation to put the contribution to use immediately for the benefit of students and faculty. Cash gifts are also fully deductible for federal income tax purposes.

Appreciated Securities

Gifts of appreciated securities – stocks and bonds – provide important tax advantages to the donor. The full fair market value of the donation is fully deductible as a charitable contribution for federal income tax purposes.

Real Estate

Gifting a residence, vacation home, commercial building, land or vacant property may provide many tax advantages. Real estate can also be a source of lifetime income for Nevada State College.

Retained Life Estates

Donors can contribute a residence, vacation home or farm, while retaining the right to live in and use the property. Donors may also receive an income tax deduction.

American Taxpayer Relief Act (2012 & 2013)

Charitable Donations from IRAs for 2012 and 2013

The American Taxpayer Relief Act of 2012 (ATRA) extended the qualified charitable distribution (QCD) provisions for 2012 and 2013. Several special transition rules were included in ATRA to enable taxpayers to have a donation made before February 1, 2013, treated as a 2012 QCD.

A QCD is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity. An IRA owner can exclude from gross income up to $100,000 of a QCD made for a year, and a QCD can be used to satisfy any IRA required minimum distributions (RMDs) for the year. Also, the amount of a QCD excluded from gross income is not taken into account in determining any deduction for charitable contributions.  

2012 QCDs Made in January 2013

An IRA owner can treat a contribution made to a qualified charity in January 2013 as a 2012 QCD in either of the following circumstances:      

• The contribution is a cash contribution to the charity of all or a portion of an IRA distribution made to the IRA owner in December 2012, provided that the contribution would have been a 2012 QCD if it had been paid directly from the IRA to the charity in 2012.
• The contribution is paid directly from the IRA to the charity, provided that the contribution would have been a 2012 QCD if it had been paid in 2012.

IRA owners should keep records to substantiate the timing of contributions and distributions regarding any 2012 QCD made in January 2013.

A QCD made in January 2013 that is treated as a 2012 QCD will satisfy the IRA owner’s unmade 2012 RMD if the amount of the QCD equals or exceeds the 2012 RMD. However, no part of such a QCD can be used to satisfy the 2013 RMD, even if the 2012 RMD had already been made. In determining the RMD for 2013, the 2012 QCD must be subtracted from the December 31, 2012, IRA account balance(s).      

Reporting

1. Form 1099-R    IRA trustees must report distributions as follows:
   • Distributions made in 2012 are reported on a 2012 Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.; and
   • Distributions made in 2013, including any 2012 QCDs made in January 2013, are reported on a 2013 Form 1099
2. Form 1040    IRA owners must report 2012 QCDs made in January 2013 on their 2012 Form 1040 by:
   • Including the full amount of the 2012 QCD (even if in excess of $100,000) on line 15a; and
   • not including any amount on line 15b, but writing “QCD” next to line 15b.
   • Note: A 2012 QCD made in January 2013 must also be reported on the IRA owner’s 2013 Form 1040. These reporting requirements will be reflected in the 2013 Instructions for Form 1040.
3. IRA owners must file a 2012 Form 8606    Nondeductible IRAs, with their 2012 Form 1040 if:
   • the 2012 QCD was from a traditional IRA, there was basis in the IRA owner’s traditional IRA(s), and the IRA owner received a distribution from a traditional IRA in 2012, other than the 2012 QCD; or
   • the 2012 QCD was from a Roth IRA.

If a 2012 Form 8606 must be filed, the instructions to the form will describe how to report any 2012 QCD made in January 2013.  

If the Nevada State College Foundation and/or members of its Board of Trustees can be of service to you, your friends and/or clients, please call (702) 992-2356.  

Material received from IRS, Stelter & Company (IA), and Campbell & Company (IL)

Bequests

Setting up an endowment to benefit Nevada State College students in your family’s name, by means of a bequest in your will or living trust, is a wonderful way to support your philanthropic priorities in perpetuity.

Retirement Plan Assets

Using retirement plan assets to make a charitable contribution gives donors financial and tax advantages. Naming Nevada State College through the Foundation as a beneficiary of a retirement plan – including IRA’s, 401(k)s and profit-sharing plans – may eliminate estate and income taxes.

Life Insurance

By assigning ownership of life insurance to the Foundation, donors may receive tax deductions for the cash value of the policy and the yearly premiums.

Disclaimer

All gifts are formally acknowledged to the extent allowable by state and federal laws and Internal Revenue Service (IRS) regulations. As a prospective donor, you should consult your accountant, attorney and/or other financial advisers to help you choose the donation methods that make the most financial sense for you and your family.

Philanthropy is based on the voluntary action of you and others for the common good. To ensure that you have full confidence in any organization you support, you have the right:

• To be informed how your contribution will be used;
• Have access to the organization’s financial statements;
• Receive appropriate recognition; and,
• Obtain truthful and forthright answers to your questions.

(The Foundation’s Board of Trustees abides by the Donor Bill of Rights adopted by the Association of Fundraising Professionals, Association of Healthcare Philanthropy and the Council for Advancement & Support to Education.)