Thank you for considering a gift to The Christian Academy!
The Christian Academy is a 501(c)(3) charitable organization under federal guidelines. Most donations are tax-deductible, but you should always consult your attorney and/or accountant about your individual tax situation.
We offer several convenient ways for you to give:
General Donations, Benevolent Scholarship Donations, Fund-A-Need Donations
We accept donations of cash, check, money order, or debit/credit cards. You can drop off, mail, or call in your donation. Benevolent Scholarship donations are used to help those families in need. Fund-A-Need Donations are made toward a specific need of the school. Please be specific when making these particular donations.
Charitable Remainder Uni-trust
A uni-trust allows you to make a significant contribution to TCA’s future while retaining a life income for you and/or your designees.
Under this plan, the Academy can be designated the trustee of your gift and can manage the trust at no cost to you. TCA then pays you an annual income based on a fixed percentage of the fair market value of the trust assets as valued annually. You and the Academy determine the fixed percentage when developing the plan. You may also add to your un-itrust at any time. The minimum gift is usually $50,000 or larger with the ability to make future additions. Donors are eligible for a charitable deduction on their income tax for a portion of the value of their contribution.
Many donors use a Charitable Remainder Uni-trust to increase income from highly appreciated securities that have little or no yield without reducing the value of the assets by paying tax on the value of the capital gain.
If you use long-term appreciated property to fund the trust, you avoid capital gain tax liability on the transaction. The designees’ income will be taxed at ordinary and capital gain rates with some income possibly being tax free. Bear in mind that because the income payments are tied to the changing value of the uni-trust, your payments may vary.
Charitable Remainder Annuity Trust
A charitable remainder annuity trust can be funded with your gift of cash or securities. The trust provides you and/or your designee an annual fixed income at a predetermined percentage that is at least 5 percent of the initial fair market value of the trust assets.
Income earned by the trust that exceeds the annuity amount is simply added to trust principal. If trust earnings are insufficient to meet the annuity amount, principal will be used to make up the deficit.
There are numerous tax benefits tied to annuity trusts. The plan allows a current year income tax charitable deduction for a portion of the value of your contribution. If your gift is appreciated property, you are relieved of capital gain tax on the sale of the property.
Annuity Trusts are usually funded with a minimum gift of $50,000 and a minimum designee age of 60. Unlike uni-trusts, no additional contributions can be made to this type of trust, although additional trusts may be established easily.
Bequest Language
Example bequest language – Please feel free to change the numbers or percentages as you desire.
1. Bequest of cash
“I bequeath the sum of $10,000 to The Christian Academy, Sikeston, MO.”
2. Bequest of a percent of the estate
“I devise and bequeath 20% of the remainder and residue of property owned at my death, whether real or personal, and wherever located to The Christian Academy, Sikeston, MO.”
3. Contingent Bequest
“If my brother John Doe survives me, I devise and bequeath 20% of the remainder and residue of property owned at my death, whether real or personal, and wherever located to John Doe. If John Doe does not survive me, then I devise and bequeath 20% of my residuary estate, whether real or personal property and wherever located to The Christian Academy, Sikeston, MO.”
Life Insurance
For a life insurance policy to be acceptable to the Academy as a gift (i.e., to receive gift credit), the following criteria must be met:
The Academy must be irrevocably designated owner and beneficiary of the policy.
Term policies are not as acceptable as gifts.
The policy should insure only the life of the donor, the donor’s spouse, or another person roughly the same age as the donor. If you are not sure which life insurance policy to get, checking out Insurance Quotes that are fitted/designed for you will help a great deal and you’ll be able to mold it to how you want it to be.
A donor may make TCA the owner and beneficiary of any paid-up whole life insurance policy. If the policy is not paid up, however, the following criteria must be met:
The policy must be whole life or universal, and the donor must share a copy of the policy along with with the policy’s sales (for new policies) or in-force (for existing policies) illustration.
The Academy reserves the right to decline ownership if the face value of the policy does not justify the anticipated cost of administration.
The donor must agree in writing to make the remaining premium payments to the Academy.
Gifts of Securities
Gifts of securities are credited at the mean market value on the day the donor relinquishes control of the security to the College. The gift value assigned by the Academy may be different from the donor’s gift value for tax purposes due to the donor’s holding period for the security.
Donors are advised to adhere to IRS guidelines regarding gifts of securities. (See IRS Form 8283 at www.irs.gov.) Questions about security transactions can be directed to development office. The Academy will sell publicly held securities as soon after acquisition as possible in the absence of a compelling reason to retain the securities.
Effective Date of Security Gifts
Security gifts made through a broker
The date of the gift is the date the security is transferred into a TCA account.
Stock certificate registered in the name of The Christian Academy
The date of the gift is the certificate date (i.e., the date the shares are transferred and registered to The Christian Academy).
Stock certificate and stock power received in the mail via the United States Postal Service
The date of the gift is the postmark date. The envelope must remain attached and be included when stock gifts in certificate form are mailed to the Academy.
Stock certificate and stock power delivered via a courier service (Fed Ex or UPS, for example)
The date of the gift is the date of receipt by The Christian Academy.
Stock certificate and stock power hand delivered
The date of the gift is the date the donor delivers the certificate to the appropriate Christian Academy staff member.