A Stewards Fund is one of the best ways to maximize and simplify your charitable giving. A Stewards Fund allows you to make a one time gift to the Barnabas Foundation and then recommend distributions to your favorite charities at later date. This gives you an immediate tax benefit, yet allows you time to recommend distributions to charities you would like to support.
Bequests & Living Trusts
Some donors finds that they best way they can help support the HCS Foundation is by making a bequest in their will. There are several different types of bequests, but with each, the entire value of the bequest is eligible for an estate tax charitable deduction.
Charitable Remainder Trusts
Charitable remainder trusts (CRTs), like charitable gift annuities (CGAs), are life income gifts: you transfer assets now, receiving a charitable deduction for a portion of the transfer and you or your beneficiary receives income for the rest of your life or a fixed period of time. Both the HCS Foundation and you can benefit from life income gifts such as these.
Stock & Securities Gifts
A gift of stock (or other appreciated property) entitles you to a tax deduction for the market value of the donated stock (not just your cost basis). If the stock you wish to donate has been held for more than one year, you can avoid capital gains tax on any appreciation of the stock by donating the stock prior to the sale. The HCS Foundation benefits by selling the stock without paying taxes on the gain, and you benefit from making a contribution that would be larger than what you might have been able to donate in cash.
Gifts of Real Estate or Other Property
- Real Estate. Various forms of real estate, including primary residences, vacation homes, farms, undeveloped land and commercial property can be donated to the HCS Foundation. You can make an outright gift or retain an interest in the property.
- Tangible Personal Property. A gift of tangible personal property to the HCS Foundation entitles you to an immediate tax deduction. Tangible personal property includes any property other than land or buildings, which can be seen or touched, such as artwork and books.
The amount of the deduction will vary depending upon whether or not your gift is related to the exempt purposes of Highland Christian School.
Retirement plans (e.g. 401(k), IRA, or Keogh plans) allow you to enjoy many tax benefits during your lifetime. However, the assets in these plans can be heavily taxed when passed on to your heirs. In addition to estate taxes, retirement plan assets are subject to income taxes resulting in as much as 75% of these assets going to the IRS instead of your heirs.
You can avoid this tax burden, thereby getting the most from your money, by naming HCS Foundation as a beneficiary. If you prefer, you can name a family member beneficiary, with the HCS Foundation as an alternative or contingent beneficiary. Any amount that passes to the HCS Foundation will do so free of estate and income taxes.