Giving to Heritage Christian School
Focusing on our Mission of the ABC’s –Academic Excellence, Bible Based, and Community Commitment – Heritage Christian School has "Avenues of Giving" for you to help us move our Mission forward.
The Federal Tax Code enables individuals, companies, corporations, foundations and trusts, to make financial gifts to Heritage Christian School.
Some of these Avenues of Giving are:
- Gifts of Cash: Cash Gifts can be deducted up to 50% of adjusted gross income. On a $10,000 cash gift in a 28% tax bracket, you save $2,800 in taxes.
- Cash Pledged Over a Period of Years: Cash pledged over a period of years can be deducted up to 50% of adjusted gross income for the portion given each year. For a $30,000 cash gift over 3 years ($10,000 each year) in a 28% tax bracket, you save $2,800 in taxes for that year.
- Appreciated Stock: Appreciated stock (held for more than one year) makes an excellent gift. You avoid all capital gain taxes, will receive a tax deduction, and can deduct it up to 30% of your adjusted gross income.
- Bonds, Mutual Funds: Bonds and mutual funds are similar to cash treatment with a tax deduction for the full value of the gift. Municipal and U.S. Government Bonds are welcome.
- CD’s, Savings Accounts, Brokerage Accounts, Checking Accounts with P.O.D. Provisions: P.O.D. stands for Payable on Death. You retain full ownership and full control during your life. Upon your death, the account balance is paid to your named beneficiary immediately and without probate.
- Gift Annuity: In exchange for a gift of cash, stock or securities, the organization will pay you, and your survivor or another person you name, a guaranteed income for life. You receive a substantial tax deduction in the year of the gift, and part of the income is tax free. Upon your death, the remainder supports the organization. Your income and tax deduction is based upon your age.
- Deferred Gift Annuity: This is similar to a gift annuity except payment begins at a date determined by you, upon your retirement, for example. Your tax deduction and annual rate of return increases the longer you wait to start payments.
- Charitable Remainder Trust (Irrevocable Annuity and Unitrust): Donors can select the rate of return from these income arrangements and also choose a fixed or fluctuating annual payment. Capital gains taxes are avoided completely and you will receive a tax deduction based upon the age of the income recipient and the rate of return.
- Charitable Lead Trust: In a charitable lead trust, assets (cash or securities) are transferred to a trust that pays income for a predetermined number of years. At the end of the time period, the trust terminates, and assets are given back to the persons you name. The income tax deduction is for the payments made annually to the organization.
- Bequest Through Will: This is one of the simplest ways to give from your estate. You make a gift bequest after others have been provided for, or for a dollar amount, specific property, a percentage of the estate or what is left (remainder) to the organization.
- Gift of Life Insurance: A simple way to make a significant future gift is to name an organization as beneficiary to receive all or a portion of the proceeds of an existing life insurance policy. You will receive a tax deduction for the cash surrender value, thus reducing your tax liability, in the year of the gift. You may also purchase a new policy with the organization being the owner and the beneficiary of the policy. The premium when paid is tax deductible as a contribution.
- Personal Property: Gifts of personal property are welcome, subject to the organization’s Gift Acceptance Policy. Charitable tax deductions for collections, royalty rights, etc. are available in the year of the gift.
Please consider one of these Avenues of Giving to Heritage Christian School and on behalf of the students we serve, “Thank You!” for your interest and support.
Charles C. Riddle Sr.
Fund Development Director
Heritage Christian School