Thank you for considering a gift to Great Lakes Boat Building School. We invite you to contact the GLBBS Office of Development with any questions you may have. Our team of experienced professionals can offer guidance that will help you explore the many creative, thoughtful, and flexible ways you can choose to leave a legacy of excellence.
Planned gifts to Great Lakes Boat Building School provide you control over your gift. You can designate it with a specific place or purpose in mind, or leave your gift unrestricted so we can apply it toward the areas of greatest need.
What works for you (and your family) will depend on when you want the gift to take effect, your desired level of involvement, whether family or other beneficiaries will be involved, and other tax implications.
SPREAD THE GOOD NEWS
The marine industry is alive and thriving. Working in the marine industry is a viable option to have a rewarding life-long career – working on the water and living in Michigan or one of the other great lakes states. If you know of someone who would have the aptitude to be a great craftsman or technician, send him/her our way.
SPONSOR A STUDENT
GLBBS is working with employers to create a sponsorship program which reduces expenses for students to attend GLBBS while securing them a position after graduation. Contact GLBBS for more information.
DONATE IN KIND EDUCATIONAL EQUIPMENT OR MATERIALS
GLBBS appreciates receiving new or gently used in kind donations for student training. A supporter who donates in-kind products or materials also receive a tax deduction at the end of the year.
BECOME AN INDUSTRY GUEST SPEAKER
Guest speakers have a great value in the training of our students. Industry speakers visiting the school and relaying their real-life experiences are instrumental to providing a well- rounded education to our students.
SERVE ON GLBBS PROGRAM ADVISORY BOARD
GLBBS has an independent Program Advisory Board who is instrumental with new GLBBS program development and initiatives. The Program Advisory Board is comprised of independent, related, and unrelated representatives. Representatives come from the marine industry, businesses of like trade, educators and regulators. Consider joining the GLBBS team today!
MENTOR A STUDENT
Student mentors serve as a guide preparing students to become a marine professional. Mentors provide guidance on projects, resume writing and professionalism. Mentors also play a role in the job selection process by providing practice mock interviews with students.
GLBBS is a non-profit organization that works to keep tuition expenses affordable for all students who wish to attend our School. Any forms of support help to reduce student tuition expenses. If you know of someone who might be interested in supporting education, training or the marine industry – make an introduction to us!
Industry Leader Sponsorship Program
GLBBS is seeking sponsorship opportunities from employers which will provide student (s) with an employment contract upon completion of the program. Students who commit to a sponsorship will sign an employment contract with the sponsor outlining the details of their employment commitment. Employers who participate will have their company promoted on the GLBBS website and in the school as an “Industry Leader”. Sponsorship opportunities will be determined by the employer and GLBBS. If you are interested in becoming an “Industry Leader” please contact GLBBS for more details.
Premier Employer Scholarship Program
Premier employers who donate $2,000 or more annually to the Student Scholarship Fund will have early access to interviewing GLBBS students (except those on sponsorships), each fall and spring. GLBBS will host Premier Employer Days, giving the opportunity for in-depth interviews from students who will provide their resumes to the employers. Employers who participate will have their company promoted on the GLBBS website and in the school as a “Premier Employer”. Students who participate in the event will have the opportunity to compete for the Premier Employer Scholarships. If you are interested in participating in the Premier Employer Scholarship Program, please contact GLBBS for more details.
Employers and donors may elect to enhance student’s award by offering additional scholarship funds for the student’s remaining tuition and fees, tools, and/or housing expenses.
Below describes the types of personal assets that GLBBS can accept. To discuss vehicles through which these assets can be given (Beneficiary Designations, Charitable Gift Annuities, Charitable Remainder Trusts, IRA Charitable Rollovers, Will/Living Trust, Donor Designated Funds, etc.) please contact the Office of Development.
A gift of cash may be given outright to GLBBS. Cash is the simplest, quickest asset to use in making a gift. Income tax charitable deduction is for the full amount of the gift and can be used to offset a larger percentage of your income than a gift of real estate or securities.
Any portion of the deduction not used in the year of the gift can be carried forward for an additional five years.
Giving a gift of real estate to GLBBS provides several benefits to the donor. Give all or a portion of real estate to GLBBS and your income tax charitable deduction will equal full fair-market value of the property, not the price you paid to purchase the property.
There are no capital gains tax at the time of transfer. You may also be able to use real estate to fund a life income gift, such as a charitable remainder trust.
The school will sell the real estate to support programming you specify, unless the real estate could be used by the school to advance its mission.
Simply name Great Lakes Boat Building School as a beneficiary of your IRA, 401(k), 403(b), or other retirement plan. At your passing, all or part of the remaining plan assets pass on to GLBBS to support a program you designate.
As the donor, you can continue to take distributions from your retirement account during your lifetime. We suggest leaving other assets to loved ones, which – unlike a retirement plan – are not subject to income AND estate tax (if applicable).
When you purchase life insurance, the most important part of your policy is the beneficiary designation. Naming your beneficiaries, the individuals and organizations who will receive the policy’s death benefit when you pass, is the reason you bought the policy.
You can leave a legacy by naming Great Lakes Boat Building School as one of your beneficiaries.
To do so is simple – call your insurance provider and request that Great Lakes Boat Building School be added to your list of beneficiaries. If purchasing a new policy, write “Great Lakes Boat Building School” on your beneficiary designation form.
You have control over how much of your benefit is given to the school.
GLBBS may also be named as a secondary beneficiary or included in a charitable giving rider attached to your life insurance policy.
Privately Held Securities – You can give the gift of closely held stock to GLBBS. By doing so you receive an income tax charitable deduction for the appraised value of the shares, even if you obtained the shares at low or no cost (provided you have owned the stock for more than one year).
You will avoid capital gains tax on the appreciation value and may be able to fund income gifts, such as a charitable remainder trust.
Privately held securities are sold to support programming you designate.
Publicly Traded Securities – A gift of publicly traded securities can be outright to Great Lakes Boat Building School or could pay you or a loved one income for life or a set term of years.
You will receive an income tax charitable deduction based on the full fair-market value of the securities provided that you have owned the stock for more than one year.
You will avoid capital gains tax on the appreciation in value and may be able to fund income gifts, such as a charitable remainder trust.
Contact the Office of Development to ensure that your gift meets both your charitable goals and the needs of Great Lakes Boat Building School.
GLBBS is a qualified 501c(3) educational institution. All gifts are tax deductible.