Ways to Give
Charitable Giving at Trinity Christian Schools
It is said, "Giving by Christians reflects their gratitude for what God has provided and involves growing in an intimate faith relationship with Christ as Lord of their lives" (Mark 12:41-44).1
There are many ways in which alumni and friends can make gifts to Trinity Christian Schools. Staff are available to assist donors to structure gifts to provide the greatest positive impact to the school and the donor. To contact the director of development, please call (806) 791-6583 or email Anna M. McGregor at amcgregor [at] tcslubbock.org.
Please remember that when making a financial decision you should always seek the opinion of your professional tax adviser or legal counsel.
What Can Be Given
Cash Gifts
The most common gift is a gift of cash. If the donor itemizes income tax deductions, 100 percent of the gift may be deducted, up to 50 percent of the donor's adjusted gross income for the year. Any excess deduction may be carried over for an additional five years.
Pledges
Pledges may be accepted for gifts to be made over a period of three years. Pledges should be in writing and signed by the donor, in order to be officially be recorded by Trinity Christian Schools.
Gifts of Securities
Gifts may consist of appreciated marketable securities, including stocks, bonds and mutual funds. Gifts of long-term appreciated securities offer an advantageous way to support the schools. For long-term securities (held more than one year), the tax law permits a charitable deduction of the current full fair market value of the securities, up to 30 percent of adjusted gross income, with a five-year carry-over. In addition, the securities are not subject to a tax on the capital gain.
Short-term securities (held less than one year) are considered to be ordinary income property by the Internal Revenue Service, and a charitable deduction may be taken for the original cost of the securities only.
Real Estate
Real estate can be a valuable gift to the school. A residence, a farm, a commercial building, a parcel of land, or an oil and gas producing property may all be given, allowing the donor to take a charitable deduction for the fair market value of the real estate and to avoid any capital gains tax.
Gifts in Kind
Gifts of tangible personal property, such as art, antiques, and various collectibles are also acceptable. A corporation may make gifts in kind such as computers and equipment. Such gifts are fully deductible at fair market value only if the property itself will be used in a way related to a normal exempt purpose of the recipient institution.
Life Insurance
By naming Trinity Christian Schools as owner and beneficiary of a life insurance policy, donors may make an irrevocable gift that will benefit the schools in the future. By simply naming Trinity as a primary or secondary beneficiary, a revocable gift is created.
Please remember that when making a financial decision you should always seek the opinion of your professional tax adviser or legal counsel. Contact the director of development at (806) 791-6583 for questions on what can be given as a gift.
Ways to Give
Outright Gifts
An outright gift is a gift in which all ownership interest in the asset is transferred to the receiving institution at the time of the donation. Most types of assets can be given outright to a component institution.
Deferred Gifts
A deferred gift is a gift in which full ownership interest in the asset is not transferred to the receiving institution at the time of the donation, but is delayed to some point in the future. Deferred gifts include:
- Bequests
- Charitable Gift Annuity
By naming Trinity Christian Schools in a will, a donor may make the school the beneficiary of a specific and/or residual bequest. A specific bequest names the school to receive a specific dollar amount or specific asset(s). A residual bequest names the school to receive all or part of the residue of the estate, which is comprised of the estate assets remaining after the payment of any specific bequests.
A charitable gift annuity pays a fixed income over the period of one or two lifetimes, one of which is often the donor. The donor contributes an asset, usually cash or appreciated marketable securities, to fund the charitable gift annuity.
Please remember that when making a financial decision you should always seek the opinion of your professional tax adviser or legal counsel. Contact the director of development at (806) 791-6583 for further information on ways to give.
How Gifts Will Be Used
Unrestricted Gifts
Gifts may be donated for unrestricted use, such as for current expenditures for the general support of a department or project of the schools.
Restricted Gifts
Gifts may be designated by the donor for restricted use, such as for current expenditure in support of a specific program or purpose such as student scholarships.
Endowment Gifts
A gift of $25,000 or more can be given to create an endowment that may be funded over a three-year period. The terms of the endowment should be set out in writing and signed by the donor. The corpus of an endowment is held and invested and distributions from the earnings are used to benefit the component institution, in accordance with the donor's wishes. The donor may specify that endowment distributions be for unrestricted use by the component institution, or may designate distributions to support students through scholarships; faculty through fellowships; student activities; and various other specified educational activities of the school.
Named Memorial Gifts and Living Tributes
Any gift may be given in honor or in memory of an individual or family.
Please remember that when making a financial decision you should always seek the opinion of your professional tax adviser or legal counsel.
For More Information
To contact the director of development at the Trinity Christian Schools, email Anna M. McGregor at amcgregor [at] tcslubbock.org, or call (806) 791-6583.
- ACSI Legal/Legislative Update, ECFA�s Seven Standards of Responsible Stewardship (Pg.53): Volume 17, Number 3, Spring 2007.