LCC Foundation Makes Contributing E-Z

(Lamar, Colorado; September 9, 2013) The Lamar Community College Foundation now has an additional incentive for individuals and businesses to invest in the College. Cash contributions to the Foundation designated for capital improvements and program development are eligible to receive an additional 25% Colorado tax credit through its certified Colorado Enterprise Zone (EZ) contribution project. In-kind contributions are eligible for an alternative 12.5% credit.

Designation as a certified EZ project is significant news as the Foundation has begun a capital campaign to build one of three new residence hall units on campus. It also has plans to assist the College in building a new career & technical education facility in the future. Gifts toward program development can be used to create new academic or CTE programs or assist existing ones.

The Colorado Economic Development Commission approved the Foundation’s request to create the Workforce Development project in its July board meeting, and the Foundation received its project number in mid-August. EZ contributions must pass through Southeast Colorado Enterprise Development, Inc. (SECED) to the LCC Foundation.

The EZ credit is in addition to any state and federal tax deductions for which the donor is eligible. Depending on the donor’s individual tax bracket, the net cost of the contribution can be less than a third of the original gift. An illustration of this is available at www.lamarcc.edu/foundation/ez. Prospective “investors” are encouraged to consult with their tax advisor to determine how this may directly benefit them.

The Foundation has also increased efforts to build its base by implementing a giving circle that includes exclusive benefits to the member and allows the Foundation to use the gift in the most effective and timely manner possible.

Established in 1973, the LCC Foundation has been focused primarily on fundraising for scholarships. As higher education funding has changed, it has become critical that the Foundation raise funds for capital improvements, program development, increased scholarships, and new initiatives to assist students, move the College forward, and ensure its long-term sustainability.

The College is continuing to celebrate its 75th Anniversary as the 75th Commencement Ceremony will take place in April of 2014. With a variety of degrees and certificates LCC continues to serve its community, state, and country by enriching lives through learning.

For more information regarding the LCC Foundation, see www.lamarcc.edu/foundation or contact the Foundation Office at 719.336.1520 or foundation@lamarcc.edu.

Additional background on Southeast Colorado’s Enterprise Zone is available at www.seced.net. For general EZ information, see www.advancecolorado.com/funding-incentives/incentives.

# # #