Payment Methods
Every gift will make a difference for Berry College students. You may designate gifts as unrestricted, available for use where they are needed most — or restricted, limited to specific purposes you identify. Regardless of which you choose, there are many ways you can participate.
For example, you can support the college's highest priority such as the Steven J. Cage Athletic and Recreation Center. You can contribute to Berry’s Annual Fund, or say “Yes!” when a Telefund student calls for your pledge. You can even make a reunion gift.
While cash and pledges are the most popular methods for giving, the following gift options are also available, and many offer considerable tax benefits.
- Appreciated Securities
- Personal Property
- Closely Held Stock
- Real Estate
- Life Insurance
- Planned Giving
- Retirement Plan Funds
- Matching Gifts
- The Annual Fund
- The Telefund
- Reunion Gifts
Please call the Advancement Office at (706) 236-2253 or toll free at 1 (877) 461-0039 to speak with a senior advancement officer, or you may send an e-mail message to dstuart@berry.edu.
Appreciated Securities
Contributing long-term appreciated stock or other securities that have been held for one year or more can make it possible for you to give a substantial gift to Berry and get a tax break. Usually when appreciated securities are sold, the seller owes taxes on the full gain, which means he or she keeps only part of the profit. But, if the appreciated security is given to a qualified charitable organization such as Berry, the donor avoids capital gains tax and most likely will qualify for a tax deduction on the entire value of the charitable gift.
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Personal Property
Antiques, art objects and other collectibles can be valuable assets for giving. You can donate the property to Berry, and in many cases, take a deduction for the piece’s full fair market value. However, some restrictions do apply, so we ask that you check with us before making a gift of personal property.
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Closely Held Stock
By making a gift of closely held stock, donors and their corporations could help Berry and reap great benefits. For example, gifts of closely held stock can mean an income tax deduction for the charitable contribution, avoidance of capital gains tax on the appreciated value of the stock and avoidance of a second tax on accumulated earnings by averting a dividend distribution.
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Real Estate
Do you have a home or vacation property, farm, commercial real estate or even vacant land you no longer need or want? By giving that real estate to Berry rather than selling it, you may be able to obtain an income tax charitable deduction equal to the property’s full fair market value, avoid tax on the property’s appreciation, free up money you had been paying on tax and upkeep, and reduce your taxable estate.
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Life Insurance
An easy way to give a substantial gift to Berry is to give the college a life insurance policy you no longer need or make Berry College the beneficiary of a life insurance policy. This gift method can reduce your taxes and increase your spendable income.
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Planned Giving
Would you like to increase your income? Reduce your taxes? Pass on more wealth to your loved ones? Feel the satisfaction that comes from making a substantial gift to Berry College? Planned giving is a powerful philanthropic tool that can help make all of these aspirations a reality. Some of the most popular planned giving methods include bequests, the charitable gift annuity, the charitable remainder unitrust, the charitable remainder annuity trust and the charitable lead trust.
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Retirement Plan Funds
If the participant of a retirement plan dies before the entire account has been distributed, his or her heirs could pay significant estate and income taxes — sometimes as much as 75 percent — on the remaining balance. If your loved ones are provided for by other means, naming Berry as the beneficiary of the remaining retirement plan assets can diminish your heirs’ tax burden and give you the satisfaction of knowing you’ve supported a worthwhile cause.
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Matching Gifts
Many companies will match the charitable gifts made by their employees, doubling the amount contributed to Berry College. The total amount of that gift is then credited to the employee-donor. Please see your employer to determine whether your company matches gifts and/or to obtain a matching gift form to be completed and enclosed with your gift.
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The Annual Fund
Each year alumni, parents and other friends provide much-needed support for student scholarships, the student work program and other necessary expenditures through their gifts to the Annual Fund. The donor may designate gifts as unrestricted — available for use where they are needed most — or restricted — limited to specific purposes identified by the donor.
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The Telefund
While there are many methods for giving to the Annual Fund, perhaps one of our donors’ favorites is the annual Telefund. During the Telefund, prospective donors have an opportunity not only to give a gift, but also to talk with a student about what’s happening at Berry and how their gift will shape the future. Gifts made through the Telefund support student scholarships and work opportunities, as well as the general fund. Donors may designate gifts as unrestricted or restricted.
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Reunion Gifts
A reunion year offers a special opportunity to give a gift to Berry in a fun and interesting way that goes above and beyond your regular gifts. The reunion committee for each reunion class decides what the class gift or project will be. Some excellent examples of reunion gifts are the establishment of a scholarship, assistance in construction or restoration of buildings, restoration of historic furniture, campus beautification projects and art restoration.
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