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Your gift can be deducted on your federal income tax return, up to 50 percent of your adjusted gross income. Should the gift total exceed the gift ceiling for one year, the remaining deduction can be carried over to succeeding tax years until it is exhausted, or for up to five years, whichever comes first.
Gifts of cash are the easiest and most direct way to make a gift to Heritage Christian School. Cash gifts are usually in the form of a check written from a personal account or Trust account. Some prefer to use a credit or debit card for one-time or regularly scheduled gifts.
Stocks, bonds, mutual funds, and other securities are among the most advantageous ways of making a contribution. A gift of appreciated securities provides a double tax savings. You may deduct the average of the high/low value of the securities on the date of the gift and avoid capital gains on the appreciation.
A gift of appreciated securities, held for more than one year, entitles you to a charitable income tax deduction in the year you complete the gift. You may use the deduction to offset up to 30% of your adjusted gross income. Any deduction exceeding the 30% limit is carried forward for up to five additional years.
The donor should notify their broker, banker or financial planner of the intent to make a gift to HCS. Then the donor must notify HCS who will handle the transaction with the broker or financial planner.
*Please see Donor Responsibility notice at bottom of page
Non-cash gift of goods or services that would otherwise require Heritage to make a cash outlay for the construction or furnishings of a project can be donated. Tax deductibility and value of said gifts are determined by the donor.
Many donors appreciate the opportunity to make a pledge today that allows them to schedule gifts toward that pledge over a period of several years. Multi-year pledges are an ideal way for donors to provide significant support for Heritage Christian School. Reminder notices are sent at regular intervals for the convenience of donors.
A will can also be used to make long-term charitable gift of cash, securities, real estate, or personal property. A bequest is a gift of assets granted in a will. HCS can also be named as the beneficiary of an IRA or other retirement-related funds.
Donations via trusts allow donors to make significant on-going contributions to HCS and can trigger major tax benefits for donors while assuring them an ample return from the assets placed in the trust.
Fully paid life insurance policies can qualify as tax-deductible for the donor at their entire replacement value if the school serves as owner and beneficiary. If HCS is named owner and beneficiary of a new policy, proceeds are not subject to estate taxes, and premiums may be deductible for tax purposes.
Donors are encouraged to take advantage of matching gifts programs offered by their employer. Matching a gift to Heritage through such a program can double, triple or in some cases quadruple support to the school. The impact of your gift multiplies just by participating in your employer's matching gift program.
Although representatives of the School will provide all appropriate assistance, the ultimate responsibility regarding evaluations and/or tax deductibility remain with the donor and the counsel that the donor may wish to secure.
While donors are welcome and encouraged to give to a general fund, Heritage Christian School recognizes that many desire to give to specific areas of need. We have identified the following areas as important ways in which you can enrich our school.
* Campus Improvements: Building a more beautiful campus
Our campus has many needs at this time. Your gift to this fund will go towards campus renovations and classroom improvements.
*Enriching academics
Heritage Christian School wants to provide an enriched academic environment. Help us to develop our new library by donating to purchase books and computers.
* Athletics: Equipping the soul and body
Athletics are a wonderful way for students to develop fundamental skills. Not only do students get in better shape, master hand-eye coordination, and develop endurance, they also learn valuable life-skills like determination, respect, and teamwork. Gifts to this fund help provide better equipment and uniforms.
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