Legacy Planning
Including the Canton College Foundation in your estate planning can change future generations. There are several ways generous alumni and friends can prepare to recognize SUNY Canton in their estates:
Bequest
A bequest is a provision for a gift of an asset/s in one’s will or living trust. You may leave the balance of a savings account, an art collection, or even a house. If you’re considering leaving a gift of property, such as a house, vehicle, boat, etc., please notify us of your intention.
When adding the Canton College Foundation to your estate plan, please provide your attorney with the following information:
Canton College Foundation, Inc. Federal Tax ID #23-7392114, 34 Cornell Drive, Canton, NY 13617
Beneficiary Designation
One of the simplest ways to include the Canton College Foundation in your estate plans is through a beneficiary designation on a life insurance policy or financial account. Many financial institutions allow you to make changes to your beneficiary designation online. A beneficiary on an account, such as an IRA, will allow the account to bypass probate and immediately fulfill your wishes at the Canton College Foundation.
Share the following information with your financial institution to add the Canton College Foundation as a beneficiary:
Canton College Foundation, Inc. Federal Tax ID #23-7392114, 34 Cornell Drive, Canton, NY 13617
Life Income Gifts
We offer two ways to make a gift and receive a stream of income in return via a Charitable Gift Annuity or Charitable Remainder Trust.
Charitable Gift Annuity (CGA)
A CGA is a simple, tax-wise, agreement between the Canton College Foundation and an individual. The individual agrees to donate funds in exchange for a fixed stream of payments for the remainder of the individual’s life, or the remainder of their and their spouse’s life, as well as an up-front tax deduction. The stream of payments may also be partially tax-free.
Annuity rates are based on the American Council on Gift Annuities (AGCA) recommended rates. The AGCA studies historical market returns, IRS life expectancy tables, and other factors in order to recommend conservative rates that aim to provide the charity with at least a 50% residuum of the CGA upon the donor’s passing.
Please contact the Office of Planned Giving for more information on Charitable Gift Annuities.
Payson-Martin Society
Membership in the Payson-Martin Society is granted to those who have decided to leave their legacy at SUNY Canton. Members are invited to special events and are honored through the Canton College Foundation's Donor Recognition Programs.
To learn more or to join the Payson-Martin Society, please call Geoffrey C.S. VanderWoude at 315-386-7844 or email vanderwoudeg@canton.edu