Mt. Hood Community College Foundation receives nearly $1-million from three local donors
The MHCC Foundation recently received three separate gifts from donors who named the college Foundation as a beneficiary of their estate. The gifts total nearly $948,000 and will be used toward student scholarships and in support of college programs.
The gifts come to the Foundation as a result of trusts established by the donors.
Fran and Gustave Erickson of Boring established a Charitable Remainder Unitrust with the Foundation in 1989. This Trust not only provided the couple with special tax benefits but also lifetime income. Gustave Erickson preceded Fran in death, and Fran passed away earlier this year. The Trust named the Foundation as the sole beneficiary of nearly $798,000.
A second gift received recently came from the Michael Chaney Trust. Mr. Chaney’s family are long-time Gresham area residents who first started the Gresham Toyota dealership. Upon his death, Mr. Chaney willed $100,000 to the college Foundation.
Also naming the Foundation as a beneficiary were Carita and James Wagner of Gresham. Mr. Wagner was a former instructor at the college and taught in the Horticulture program. The couple left nearly $50,000 to the Foundation.
It is through such planned gifts that the college Foundation is able to provide continued support to students through scholarships and updated classroom equipment. For these donors, their legacy of giving will always be appreciated especially by those students who will benefit from their generosity.
If you would like to consider a planned gift, or simply include the MHCC Foundation in your will, we would be glad to discuss and provide support for your effort. Contact Al Sigala at 503-491-7548 for more information.