Upon the donor's passing, the assets of the trust become the property of the college. This is a very simplified explanation of a very complicated set of requirements. Nevertheless, many aging alumni of our institutions can escape pressing capital gains taxes, get significant tax credits, establish a lifelong revenue stream, and pass their wealth on to a nonprofit organization using this type of program. Anyone considering retiring who also holds property should consult their estate planner or work with the chiropractic college of their choice to see if this deferred giving approach can benefit them. I can see the iceberg, but it's too late to save the ship from crashing.
Chiropractic colleges are tuition dependent institutions.
If we strive to increase the quality of our educational programs, we generally incur increased costs. If we strive to improve facilities, build new facilities, or simply maintain the ones we have, we incur increased costs. If we strive to enhance our research programs, clinic training programs, faculty development programs, political action programs, alumni programs, public relations programs or any other programs, we incur increased costs. When the ship meets the iceberg, there will no longer be a student debt problem. It will no longer be a school finance problem.