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.
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.
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.