Planned Giving
Estate Gifts
Gifts established today provide benefit to Toledo Christian Schools in the future.
Bequests
Designate a portion of your assets/estate to Toledo Christian Schools in your will or living trust. You may leave a specific amount of money, specific asset or specific percentage of your estate through your will or living trust to Toledo Christian Schools, Inc. The gift may be unrestricted to use for the greatest need or restricted to scholarships or building projects.
Life Insurance
Make Toledo Christian Schools the owner and/or beneficiary of your life insurance policy.
Paid-up whole and universal life insurance policies have a cash value that may be used immediately if Toledo Christian Schools is the owner.
Retirement Plans and IRA’s
Make Toledo Christian Schools the beneficiary of your retirement plan or IRA. The remainder of your retirement plan may be designated to Toledo Christian Schools by bequest or by beneficiary designation. This will eliminate all income tax, capital gains tax and estate tax on this asset.
Charitable Gift Annuity
A charitable gift annuity is a simple contract between you and Toledo Christian Schools. In exchange for your irrevocable gift of cash, securities, or other assets, Toledo Christian Schools agrees to pay one or two annuitants you name a fixed sum each year for life. A gift annuity must be a minimum of $10,000 and the individuals must be at least 50 years of age.
In most cases, part of each payment is tax-free, increasing each payment’s after-tax value. If you give appreciated property, you will pay capital gains tax on only the part of the appreciation. In addition, if you name yourself as an annuitant the capital gains tax will be spread out over many years. Payments are usually made in annual, semi-annual or quarterly installments.
You will likely qualify for a federal income tax deduction. Gifts of appreciated assets are limited to 30% of your adjusted gross income. Gifts of non-appreciated assets are limited to 50% of your adjusted gross income. You may, if necessary, carry forward unused deductions for up to five years, subject to the same 30% and 50% limitations.
For more infomation:
If you would like to find out more about this unique way of giving to Toledo Christian Schools, please contact David McWhinnie at 419.389.8700 x 146.