Rainy River Community College Foundation formed on August 11, 1983. Our
mission is investing in student success and our community's future
through scholarship and college development. We are honored to be able
to enhance students’ educational experiences in a variety of ways.
Whether through scholarships, educational equipment, or community
enrichment, we would love to have you join us.
Please explore RRCC giving opportunities to learn more:
Donate – give until it feels good! Donations can be mailed to: RRCC Foundation, 1501 Highway 71, International Falls, MN 56649
- RRCC Foundation Golf & Social - philanthropy can be social and fun! Please join us on Thursday, June 13, 2019 for golf, silent auction, live orchestra, champagne, London broil and lobster dinner, and fun! Contact Anne Homkes for more information: 218-285-2213
- Planned Giving – this is typically done in conjunction with estate planning and is a viable option for donors of all income levels.
- Charitable Gift Annuity – you make a substantial gift to support the RRCC Foundation, you receive tax benefits and fixed annual payments for the rest of your life and the life of another person, if you choose. Upon the death of the last beneficiary, the funds go to the RRCC Foundation. Consult your attorney or financial advisor to determine whether a charitable gift annuity is right for you.
- Deferred Charitable Gift Annuity – deferred charitable gift annuities through RRCC Foundation enable the donor to save taxes twice and get a lifetime income at a designated time in the future while also providing a benefit to the college.
- Charitable Gift In Your Will – a bequest is anything you give or leave to charity from your estate through a will or living trust. Consult your attorney or other professional advisor for details.
- Life Insurance – by designating RRCC Foundation as the beneficiary of a new or existing insurance contract, you can make a significantly larger charitable gift than may be possible out of your current assets. If you make the charity the owner of the contract, you can deduct the premiums as you pay them.
- Real Estate – you can make an outright gift of real estate if you have owned the donated property for at least one year, both you and the foundation can avoid paying capital gains taxes on the appreciation in value of the property. Outright gifts of real estate often result in an income tax deduction equal to the fair market value of the property but there are some situations where this may be reduced. It is possible to make a gift of your personal residence, vacation home or farm and retain a “life estate” in the property, allowing you to retain rights to use or rent out the property until your death. You deed the property directly to the charity subject to your retained life estate, receive an immediate income tax deduction for a portion of the appraised fair market value and have the comfort of knowing that the property will be excluded from probate.
- Retirement Assets – distributions from IRAs, tax-sheltered annuities, and 401(k) and 403(b) plans are subject to income tax and may be subject to generation-skipping taxes and estate taxes. However, gifts of these assets will not be taxed if they are paid directly to a charity as a beneficiary. Under current law, IRA assets must first be withdrawn and the distribution recognized for income tax purposes. Contribute the funds to the RRCC Foundation, recognize the distribution for income tax purposes, and then claim an income tax charitable deduction to mitigate the income tax liability.