Ways to Give
Gifts of Cash and Check
Cash gifts serve as an easy and convenient way to donate. Immediately impacting the area for which funds are allocated, gifts of cash include donations of maturing bonds and certificates of deposit, money market accounts, and savings accounts.
Electronic Funds Transfer
Automatic withdrawals from your bank account are easy to set up and convenient for the busy donor. Arranged through your bank account, the transfer is deducted on the 15th and 30th of each month. To enroll in the electronic funds transfer option, fill out the form below and submit it to the business office, Attn: Lisa Turnbough.
Corporate Matching Gifts
Matching gifts is a valuable way to maximize your gift! Many employers sponsor a matching gift program that can magnify the impact of your giving. Contact your company’s Human Resources department to inquire about matching gift opportunities.
Gifts of Stocks or Securities
Giving a gift of securities that have increased in value since the date of purchase allow you to take the current market price as a tax deduction, eliminating capital gains tax on the increase.
To receive the full deduction, it is important that the ownership of assets be transferred to Heritage Christian School rather than selling them first and then donating the proceeds of the sale. If the asset is sold before it is donated, then the responsibility for capital gains taxes falls on the donor. Transferring ownership eliminates the capital gains tax.
For information on donations of appreciated securities, contact your securities manager for information on how to transfer ownership.
Gifts-In-Kind of equipment or supplies pertinent to the efficient operation of our school are often welcome. Though the IRS prohibits the school from assigning value, the school bookkeeper can issue a receipt itemizing the donation. The donor then assigns a value to the donation. Please contact the school Administrator to determine if your gift may be utilized by the school.
Memorials are a precious way to honor a loved one who has passed and support the mission of Heritage Christian School. Memorials may be given with a designation to a specific area of need in the school or be general in nature, allowing the school to utilize it to their best ability. Acknowledgement letters are sent to the donor and notification is made to the family of the deceased or the individuals being honored. Contact Lisa Turnbough in the business office for a memorial form.
Heritage Christian School may be in a position to accept gifts of land or other real estate. As with securities, gifts of real estate may help the donor eliminate capital gains tax on appreciation in value while realizing a tax deduction. Contact the business office if you are considering a gift of real estate.
Bequests are gifts made through a living will or trust. They are advantageous for individuals passionate about a charitable organization, but who cannot give during their lifetime. There are four ways to designate a bequest:
- A percentage of your total estate – using this approach, the size of your gift adjusts with changes in the size of your estate.
- The remainder or a percentage of the remainder of your estate – after specific gifts to loved ones have been bequeathed, you may designate the entire remainder of your estate or a specific percentage of your estate to go to one or more charitable organizations. This approach also enables the size of your gift to adjust with the changes in the size of your estate.
- A gift of specific amount – you may specify a dollar amount to one or more charitable organizations.
- Contingent bequest – you may specify that Heritage Christian School is to receive a gift in the event of the death of other beneficiaries.
For questions regarding altering your living will or trust beneficiary designations, contact your attorney.
Individuals who have life insurance policies may designate Heritage Christian School as the beneficiary, assigning us ownership of the policy. You will receive a charitable deduction, and in removing the life insurance policy from your estate, may also reduce your estate taxes. To designate Heritage Christian School as a beneficiary, contact your life insurance agent and request a change of beneficiary form to name Heritage Christian School as the beneficiary.
Life Income Gifts
Individuals who have retirement plans may designate Heritage Christian School as the beneficiary. Naming Heritage Christian School as the primary beneficiary eliminates income and estate taxes on the retirement plan. You may also name Heritage Christian School for a portion of the assets or as a contingent beneficiary with the gift to be effective only after the death of a spouse or other family member.
In 2001, the IRS issued favorable, simplified new rules for calculating minimum amounts you must withdraw each year. By taking advantage of this new rule, you keep more of your tax-deferred savings in your account while designating an important future gift to Heritage Christian School.
To designate Heritage Christian School, contact your retirement plan manager and request a change of beneficiary form to name Heritage Christian School as the beneficiary.