Gifts of Cash/Check

An easy and convenient way to donate.  Cash gifts also include donations of maturing bonds and certificates of deposit, money market accounts, and savings accounts.  Gifts of cash are tax deductible up to 50% of adjusted gross income (AGI), with a 5-year carryover provision.

Electronic Funds Transfer

An easy way to make a recurring gift through automatic monthly withdrawals from your bank account

Increase the impact of your gift!  

Many employers sponsor a matching gift program that can magnify the impact of charitable contributions by employees and retirees.  The existence and specific details of a company matching gift program are usually obtainable through a company’s Human Resources office.

Gifts of Appreciated Securities

When you make a gift of securities that have increased in value since you bought them, you may claim the current full fair market value (at the time the gift is completed) of the securities as a federal income tax deduction an avoid paying any capital gains tax or sales commission.  

To receive the tax benefit of gifting appreciated securities, it is important that you transfer ownership of the assets to Heritage Christian School instead of selling them and donating the proceeds of the sale.  If you sell the assets and donate the proceeds, you will be responsible for capital gains taxes. Transferring ownership eliminates the capital gains tax.

If interested in making a gift of appreciated securities to Heritage Christian School, please contact our Development Office for information on how to transfer ownership so you will be able to avoid capital gains tax and reap the full tax benefit of your gift.

Gifts-In-Kind

Our Christ-centered, academically challenging educational program has many equipment and supplies needs that are integral to our effective operation.  Gifts of this nature are often welcome (please consult with our Administrator first to see if your potential gift-in-kind may be accepted by the school).  IRS regulations do not permit the school to assign or verify the value.  The donor, by virtue of purchase receipt or appraisal, determines gift value for tax purposes.

Real Estate

Heritage Christian School may be in a position to accept gifts of land or other real estate.  As with gifts of securities, giving real estate may help the donor avoid capital gains tax on any appreciation in value while also realizing a tax deduction.  Please contact our Development Office if you are considering a gift of real estate.

Bequests

Bequests are gifts made through a will or living trust. They are especially popular for people who want to provide a substantial gift to a charitable organization they are passionate about, but cannot forego income or capital during their lifetime. Bequests of all sizes benefit Heritage Christian School. There are three ways to designate a bequest:

• Specific percentage of your total estate – Using this approach the size of your gift adjusts with changes in the size of your estate.
• The residue or a percentage of the residue of your estate – After specific gifts to loved ones have been bequeathed, you may designate the entire residue of your estate or that a percentage of the remainder shall go to one or more charitable organizations. This approach also enables the size of your gift to adjust with changes in the size of your estate.
• Specific amount – You may specify a specific dollar amount to one or more charitable organizations.
• Contingent bequest – You specify that Heritage Christian School is to receive a gift in the event of the death of other beneficiaries. The following is sample bequest language you may take to your attorney: I give, devise, bequeath (insert amount of gift, percentage of estate, or residuary of estate here) to Heritage Christian School, 255 Hackberry Street, North Liberty, IA 52317.

Life Insurance

Many individuals have life insurance policies whose benefits they no longer need. If this applies to you, you may want to consider naming Heritage Christian School the beneficiary and assigning us ownership of the policy. You will receive a charitable deduction, and in removing the life insurance policy from your estate, you may also reduce your estate taxes.

Life Income Gifts

The charitable remainder trust and the gift annuity are two types of life income arrangements:

Charitable Remainder Trust

You make a gift to a charitable organization in a trust, reserving the income generated by the trust to yourself, another person, or yourself and another person either for life or a set term of years. Upon the termination of the trust, the remaining assets are distributed to Heritage Christian School. These trusts are complex legal documents and it is advisable to use an attorney and professional trustee, such as a bank trust department, to set them up.

Retirement Plans

Retirement plan assets are excellent assets to leave to a charitable organization.  IRAs and qualified retirement plans, such as 401(k)s, when passed on to heirs, can incur as much as 70% in taxes because this asset faces double taxation.  Not only is the plan benefit reduced by estate taxes, but the recipient may also face income tax on the plan’s distributions.  

If you to make a Heritage Society gift to the school, you may want to consider naming Heritage Christian School the beneficiary of your 401(k), pension, or other retirement plan, and leaving other assets to your family.  Naming HCS as the primary beneficiary avoids all income and estate taxes on the retirement plan.  Of course, you can 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.

Furthermore, in 2001 the IRS issued favorable, simplified new rules for calculating minimum amounts you must withdraw each year.  By taking advantage of these new rules, you can keep more tax-deferred savings in your account during your life, and designate an important future gift to Heritage Christian School.

To designate HCS, simply contact your plan manager, request a change of beneficiary form, and name Heritage Christian School as the beneficiary.