Gifts made to the Citrus College Foundation are tax-deductible to the extent allowed by current tax laws. The Foundation has 501(c)(3) tax-exempt status. Every gift is promptly acknowledged with an official thank you letter/receipt which may be used for tax purposes.

A gift may be designated or it may be made unrestricted. Unrestricted gifts may be used where the need is greatest as determined with the involvement of the various departments, deans and the college's President's Council. A gift that is designated for a particular program, department, campaign, project, scholarship fund or for the general endowment will be applied only to the area specified by the donor.

Pledges - A pledge is a written commitment to pay a specified amount sometime in the future. It may be paid annually, quarterly or monthly over one to five years. A donor may establish a bona fide pledge to the Foundation in the following ways:

1. completing and signing a "letter of intent" form provided by the Foundation
2. writing and signing a personal letter addressed to the Citrus College Foundation outlining the specifics of the pledge
3. completing a pledge card provided by the Foundation

Please note: The Foundation will provide a written receipt indicating the amount, designation and method of payment of the pledge. After each payment is made, a receipt will be mailed to the donor confirming the amount received.

A pledge that is payable over multiple years affords contributors the opportunity to make a more substantial gift than might be possible if they were limited to making payment in full within a single year. Pledges may be paid over three to five years, except that no multi-year pledge may be made for an amount less than $200 per year (i.e., a pledge of $1,000 or more may be paid over a period of up to five years).

Cash Gifts

Cash gifts to the Citrus College Foundation may be made by check, money order, credit card or by an electronic transfer of funds to the Foundation's money market account.

A gift made by check or money order should be made payable to the Citrus College Foundation and mailed to the address shown below:

Citrus College Foundation
1000 West Foothill Boulevard
Glendora, California 91741-1899

A gift may be made by credit card. The Foundation accepts MasterCard, VISA and American Express. For assistance in making a gift by credit card, call the Foundation staff at (626) 914-8825.

An electronic transfer of funds from a donor's account to the Foundation's money market account at Vanguard may be used to make a gift. For assistance in making an electronic transfer of funds, please call the Foundation Office at (626) 852-8008.

Gifts in currency should not be sent through the mail. Donors who wish to make a cash gift in U.S. currency should visit the Foundation Office. A cash receipt will be written at the time the gift is made.

Gift of Securities

Gifts of appreciated securities or stock can be one of the most advantageous ways of giving. If your gift of stock is one you have owned for more than one year, you may deduct the full fair market value of the stock as a charitable contribution while bypassing capital gains taxes. Frequently, selling highly appreciated property yourself may not be an attractive option. Prospective donors are urged to consider giving the stocks to the Citrus College Foundation instead. Please contact the Citrus College Foundation to make a gift of securities.

Gifts of securities will be recorded at market value on the date of transfer to the Citrus College Foundation.

Gift of Real Estate

Gifts of real estate to the Foundation are accepted only after they are evaluated by the Foundation's real estate committee or by a real estate appraiser qualified to evaluate environmental considerations or other factors that may potentially create a liability or unforeseeable financial obligation to the Foundation.

Donors who are considering a gift of real estate are encouraged to contact the Foundation. The Foundation will work with you to facilitate a timely evaluation of the property as a potential gift.

Most real estate has appreciated faster than the rate of inflation and offers great potential in charitable gift planning. The Citrus College Foundation may accept a gift of vacation property, condominium, undeveloped land or other real estate. As an example, a donor may transfer ownership of his/her personal residence (or other real estate) to the Foundation and receive:

• recognition for a significant gift
• a current income tax deduction for the property's discounted value
• continued use of the property for as long as he/she lives

Gifts of real estate may also be made through a will or a living trust as a bequest. Prospective donors are encouraged to consult with a qualified estate planning professional when considering a bequest.

Gift-in-Kind

Gifts of materials or other usable or marketable, tangible items, valued at $500 or more, are accepted only after they have been evaluated by the business office of the college and upon recommendation of the president of the college to the Foundation and the college's board of trustees.

The donor will be requested to provide detailed information, including make, model, serial number, purchase price, age, etc. about the item being donated. This will be recorded on the appropriate form. The Foundation and the appropriate college staff will assist the donor in valuing the item. The appraised value will be included in the gift acknowledgment letter which the donor may use for income tax purposes.

Gifts-in-kind that cannot be used by the college may be sold within two years of receipt.

Gifts-in-kind donated for silent and live auctions are auctioned off at the event for which they were donated, which is typically within a year of their receipt. A numbered receipt/gift acknowledgment signed by an authorized person will be issued at the time the gift is picked up or dropped off.

Acceptance of Gifts-in-Kind Policy

Gift of Life Insurance

A prospective donor who owns an insurance policy that is no longer needed for its original purpose may gift it to the Citrus College Foundation. The Foundation must both own and be named the beneficiary of the policy. In general, the donor will be entitled to an income tax deduction for the cash surrender value and can deduct the amount of future premiums paid to the Citrus College Foundation. The gift amount credited will be the face value of the policy.

Prospective donors who may be considering a gift of life insurance and need assistance may contact the Foundation staff at (626) 914-8825.

Although all gifts to the Foundation are very much appreciated, undesignated/unrestricted gifts are most valued. The reason for this is that some programs are of a higher profile than others, and as a result, they may tend to generate a disproportionate share of designated gifts even though there may be other program areas and projects with greater need. Undesignated/unrestricted gifts enable the college administration and faculty to direct the gift funds to those program areas and projects that have the most pressing needs and for which adequate sources of revenue may not be available.

In addition, because the Foundation is an independent 501(c)(3) nonprofit organization, it may not legally rely upon the college to fund its operation. Under a master agreement with the college, a value is placed on the services and benefits the college derives from the Foundation and may in return provide equivalent benefits. This reduces somewhat the size of the operations budget required by the Foundation. The Foundation must annually raise its operating budget to cover the costs of the work it does to benefit the college and its various departments and campus organizations.

A third reason that an undesignated/unrestricted gift is highly valued is that the Foundation board has the option of depositing all or a portion of it into the general endowment. The general endowment can then generate revenue for the college in perpetuity. Of course, a donor may herself or himself designate a gift for the general endowment.

Regardless of the case for undesignated/unrestricted gifts, if a donor wishes to designate his or her gift for a particular program or project or for a scholarship fund, the Foundation will honor the request. Again, gifts are gratefully accepted whether they are designated or undesignated. A donor need only specify how he or she wants the gift applied, and the request will be honored.

Memorial Gift / Naming Opportunity

Citrus Community College District Board Policy BP 6620 
Citrus Community College District Administrative Procedure AP 6620

Anonymous Gifts

The Foundation honors the request of a donor who wishes to remain anonymous. Such a donor needs only to specify that he or she prefers to remain anonymous in a letter of transmittal with the gift. Only the Foundation director, president of the college, and the administrative secretary will have knowledge of the gift, and the name of the donor will not be shared with others.

Because the Foundation maintains an Honor Wall in the foyer of the Haugh Performing Arts Center for donors of gifts of $1,000 or more, a donor who wishes not to be listed on the Honor Wall will need to notify the Foundation director.

Some donors may want it known that they made a gift to the Foundation, but may prefer not to have the size of the gift made public. Others may not mind having their gift listed in a gift range without the specific amount made known. The Foundation honors donor requests when they are made known, preferably in writing.

Establishing an Endowment or a Designated Account

An endowment fund may be established in the name of an individual or family or as a memorial to a loved one with a gift of $10,000 or more. The principal of the endowment will be invested in a stock equity and bond portfolio by the foundation's professional investment counsel, in perpetuity. The principal will never be used. Fifty percent of the appreciation, dividends, and capital gains, if there are any, will be made available at the discretion of the board of directors to fund the program to which the gift is made. In the event that the principal depreciates below the level of the original gift, the difference will be made up from the "available" portion of the endowment (unspent dividends and gains from previous years). An endowment is an excellent way to perpetuate the memory of a loved one or a family name while at the same time providing support to a favorite program, project, or department at Citrus College.

To establish the endowment, simply write a check for at least $10,000 made payable to the Citrus College Foundation and note on the check the name of the endowment. Send the check with a letter of transmittal to the Citrus College Foundation to the attention of the executive director. The letter of transmittal should include your name, address, home and work telephone numbers, fax number, and e-mail address; the name of the endowment fund; and the program, project or department that you wish the fund to benefit. The letter should also state who the contact person on the account should be. If this person is someone other than you, address and telephone numbers should be included for this person, as well.

A gift receipt thank you letter that may be used for tax purposes will be promptly mailed to the donor. The Citrus College Foundation is a 501(c)(3) nonprofit corporation, and all gifts are fully tax-deductible to the extent allowed by current tax law.

A donor who is not interested in establishing his or her own endowment fund may make a gift to any established endowment account. The individual or family that established the endowment will be notified that a gift was made to the endowment and by whom it was made on a special gift card unless the donor specifies that he or she wishes to remain anonymous.

Making a Designated Gift

A designated gift may be made to any program, department, or project at Citrus College. Simply write the check made payable to the Citrus College Foundation, and specify on the check or in a letter of transmittal the name of the program, department or project that you want to receive the gift. If the department or program does not have an established account with the Foundation, it will take a minimum gift of $500 to establish a new account. Gifts of lesser amounts will be transferred directly into the department or program's current year operating budget with the college.

The Citrus College Foundation is a member of the Leave a Legacy Coalition of Planned Giving Round Table Councils, allied professionals and nonprofit organizations. The coalition was established to encourage and facilitate planned gifts that benefit our Southern California community while at the same time offering personal rewards to donors.

Citrus College is deeply grateful to have some of these people as its volunteers and benefactors. Some of them are alumni of the college, others simply live or do business in the area served by the college. They all believe in the mission of the college and value the impact that it is having on the lives of its students and on the community at large.

Your gift of any amount to the Citrus College Foundation, through your will or estate plan, becomes a personal legacy that expresses your lifelong values - a legacy that will enrich the lives of others for years to come.

To take the first steps toward leaving a legacy through a bequest:

Think about your personal financial planning and the importance of creating a will or estate plan. Even if your estate is a modest one, it is important to plan carefully to make sure your wishes are met.

Consider the nonprofit organizations whose causes are important to you. Perhaps you or someone close to you has benefited from an organization's services, or you have been a volunteer, a supporter or simply a believer in the mission of the organization.

Contact the Foundation staff, if Citrus College is among these, to arrange a campus tour or a meeting with the Foundation director and/or president of the college to learn more about the many programs and services that could benefit from a gift. One or more of these may strike a respondent chord and help you decide how to direct your gift. Or you may want to take the opportunity to learn more about the range of programs and services being provided by the college and make an unrestricted gift. This choice will allow the college officials to use the resources for the programs and services where the need may be greatest and for which limited state funding is available. 

Consult a professional financial or legal adviser. He or she can help you develop an estate plan that affords you the maximum tax and legal advantages allowed for your gift. The Citrus College Foundation maintains a register of qualified estate planning professionals including attorneys, certified public accounts and insurance professionals, which is made available upon request. You may also secure copies of informational brochures free of charge upon request. To receive single copies of any of the informational brochures listed below or a brochure about the Citrus College Foundation, please call (626) 914-8825.

Estate taxes
Charitable remainder trusts
Corporate trustees
Living trusts
Life insurance trusts
Leave a Legacy
Citrus College Foundation brochure

The Foundation seeks to identify individuals, families, foundations, other grantmakers, local businesses and corporations that may, with proper cultivation, have an interest in making a gift to the Citrus College Foundation.

Foundation staff, members of the board of directors, and college staff attempt to increase the awareness and understanding of prospective donors about what the college does, whom it serves, its programs and services, and current needs. This is accomplished through an annual report, media coverage/press releases, the website, informally by board of directors and staff, and special events.

The Foundation's Board of Directors and college's staff strive to build relationships with prospective donors by keeping them informed about involving them in the college and with its students.

The Citrus College Foundation makes every effort to comply with donors' wishes in using funds in the manner designated when the gifts were made. The Foundation Finance/Investment Committee is compliant with the Prudent Investor Act and utilizes professional investment counsel to optimize growth of the gifts with the least possible risk to principal. The principal from endowed gifts is never used and is invested in perpetuity.

Donors are kept informed about the Foundation's work and gift stewardship through an annual report. Where it is appropriate, as in the case of grants, additional progress reporting about specific projects and their impact on students is provided.

Fund Management Policy
Investment Policy