Giving to LLTC
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LLTC Alumni Update |
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William Badboy (Class of 2007) is currently working as a Facilities Engineer at the NASA Jet Propulsion Laboratory in Pasadena, CA. Badboy was part of the first cadre of LLTC students that participated in a NASA summer internship program. His supervisors were so impressed with his work ethic and willingness to learn, that they promised a job would be waiting for him once he completed his degree.
"I was living in Minneapolis and working as a painter when my daughter was born," recalls Badboy. "I knew that it was time to get serious about building a stable career, not just a job, so I could provide for my family. Going to Leech Lake Tribal College was the best decision I ever made because it put me on the right path."
Robert graduated from LLTC with an AAS in Business in 2009, and completed an AA degree in Liberal Education at LLTC one year later, before moving on to attend Bemidji State University. He currently works as the Operations Manager for the Leech Lake Band of Ojibwe, and says he is proud to have a challenging, enjoyable job that allows him to provide for his family the way he always wanted to. The family atmosphere and cultural component of the educational experience are two things Robert recalls when asked what helped him to succeed at Leech Lake Tribal College, saying, “as Native people we’re very community- and family-oriented to begin with, so LLTC was a perfect fit right from the start.” Robert also mentions that he is extremely grateful for the scholarship gifts that allowed him to attend LLTC. “Every penny I made went to support my family; there is just no way I could have afforded college without the financial support I received.” |
Here is some information on different ways you can support the mission of Leech Lake Tribal College:
What to give
Cash: A simple way of giving, and you can see the impact of your generosity immediately while also realizing a tax deduction.
Stock: Donating appreciated stock can save you a large amount in taxes, as it earns you a federal income tax deduction based on its current value. This can be very important if it is stock that has significantly appreciated in value since you purchased it.
Retirement Plan Assets: Leaving retirement plan assets in your estate can make them subject to taxes of up to 35% of their value. As a 501c3 non-profit organization, Leech Lake Tribal College can receive the assets tax-free.
Real Estate: Donating real property to Leech Lake Tribal College eliminates the capital gains tax you would pay if you sold it. Plus, you also receive an income tax deduction equal to the property's assessed fair market value.
Life Insurance: Naming Leech Lake Tribal College as the primary beneficiary of your life insurance policy (or assigning its ownership to LLTC) will gain you an income tax deduction and a reduced estate tax liability.
How to give
Bequests: A charitable bequest in your will or trust is entitled to an estate tax deduction for the gift's full value.
Beneficiary Designations: You can name Leech Lake Tribal College as a beneficiary of your life insurance, retirement plan, annuity, or certain other assets
Memorial and Honorary Gifts: Make a gift directly to LLTC or through your estate plan to honor a loved one.
Life Income Gifts (Annuities, Charitable Remainder Trusts, etc): These gifts allow you to give a sum of money to LLTC in return for an agreed-upon annual income. You receive a current income-tax deduction, and LLTC receives the remaining balance after your lifetime.
Charitable Lead Trust: A donor-created trust that makes payments to Leech Lake Tribal College for a defined period of time. This giving vehicle provides the donor with current tax deductions.
Endowed Funds: Endowed funds are established to a certain purpose, and the principal is never spent - only investment income and earnings are used to support the designated activities.
At Leech Lake Tribal College, you can donate to endowed funds that support:
- The LLTC library
- The Leann Dick Memorial Scholarship Fund
- LLTC general funds, which pay for utilities and other critical functions
For more information on giving to Leech Lake Tribal College, please contact the LLTC Advancement Office at 218-335-4286 or at kyle.erickson@lltc.edu
Miigwech!
UPDATE: More than $23,000 was raised for the Leann Dick Memorial Scholarship Fund through the 2011 Leech Lake Tribal College Golf Classic. The Fund now has over $40,000 and is the first endowed scholarship fund at LLTC. Thank you for your support, and we look forward to growing to Fund to serve more students!: Leann_scholarship_letter.pdf
