Planning for the Future
The simplest and easiest gifts you can make — can be made through credit/debit card transactions, outright cash, or personal checks, cashier’s checks, or money orders made payable to Toledo Christian. TC also has a wire account; please contact the business office for details about making a wire transfer to Toledo Christian.
Gifts of Appreciated Securities, Stocks, and Bonds
These gifts also provide considerable tax advantages when transferred to Toledo Christian before they are sold. If you have held your securities for more than one year, you may find that your gift will provide a twofold tax benefit, creating an income-tax deduction as well as helping avoid the capital-gains tax that would have been due on their sale. If you wish to transfer stocks from a broker’s account, please contact the TC Finance Office for details. Gifts of mutual funds, non-marketable stock, or closely held stock can also be made. Contact the Toledo Christian business office for information about giving these types of securities.
To learn about deferred or planned gifts, including bequests, life-income plans, and other options for your estate, and for information about increasing your income, earning valuable income-tax deductions, and reducing your estate taxes, please contact Kim McGill for assistance.
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.
An easy way to double or even triple your donation to Toledo Christian is to find out if your company has a matching-gift program. Such programs typically match all or a percentage of employee contributions to charitable organizations, making the employer a partner in employees’ personal philanthropy. Simply obtain a matching-gift form from your employer’s personnel office, fill it out, and provide it to Toledo Christian with your contribution.
Toledo Christian welcomes your gift through a pledge — a formal statement of intention to make a gift to the school. With a pledge, you may complete your gift by making regular payments over time, allowing you to give more generously than you originally may have considered. What is more, each payment on your pledge is eligible for an income-tax charitable deduction.
If you would like to find out more about this unique way of giving to Toledo Christian Schools, please contact the Development Office at 419.389.8700 x185.