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Heritage Christian Services relies on gifts of all sizes and variations to ensure its success in delivering top-notch programs and services. Depending on the assets you give and the gift arrangement you choose, you can expect to realize the benefits ranging from life income to reduced taxes. But the most important benefit of all will be the one you leave to Heritage Christian Services…in the form of a lasting legacy.
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| The easiest way to support Heritage is to make an outright contribution in the form of cash, real estate or securities. Gifts of appreciated property, such as stock or real estate, can provide donors with savings on capital gains taxes, as well as a charitable tax deduction. |
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| In exchange for cash or securities, HCS contractually guarantees to make a lifetime of fixed payments to the donor(s). The amount of the fixed payment depends on how much you contribute, your age, and whether there is a secondary beneficiary, such as a husband or wife. The donor also receives a charitable tax deduction. In most cases, a portion of the payments is tax-free. The donation is irrevocable, and the annuity is backed by the assets of our Foundation. The minimum investment is $10,000. |
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| The easiest way to make a planned gift is to include a simple bequest in your will or living trust. If you already have a will, a simple codicil can be added at any time, allowing for an added provision or change to the terms of the will, such as an added charitable beneficiary. Your attorney can add the codicil quite easily and HCS will be glad to provide him or her with the proper language. Your bequest can be a specific dollar amount, a percentage of your estate or a residual portion of your estate.
Click here for proper wording for bequests in your will or living trust. |
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| If you name someone other than your spouse as the beneficiary of your retirement plan assets, he or she may receive as little as 25 cents on the dollar after income and estate taxes are paid. A traditional retirement plan, such as a 401(k) or 403(b), is one of the best assets to leave to a charity because it escapes income and estate taxes. If you decide to include HCS as a beneficiary of a qualified retirement plan, you may still include other beneficiaries. Contact the plan manager to change your beneficiaries. |
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Life insurance is a quick and easy way to increase your charitable giving dollars. The most popular way is to name HCS as the beneficiary of an existing policy. A second option is to donate the policy to HCS. A third option is to take out a new policy and name HCS as owner and beneficiary. Finally, you can also donate appreciated property to HCS to qualify for a tax deduction. You can then use the money that you will save in taxes to purchase a life insurance policy equal in value to the property, with your heirs listed as beneficiaries. HCS benefits from the gift, you save capital gains and estate taxes, and you preserve the value of the estate for your heirs. |
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| Charitable trusts enable donors to irrevocably set aside money or property in a trust for a number of specified years or for life. Charitable remainder trusts, like the gift annuity, provides a steady stream of income for life to the named beneficiary. At the time of the gift, the donor chooses either a fixed percentage or a fixed dollar amount for payouts. The assets are placed in an irrevocable trust and may be sold without immediate capital gains consequences. The donor receives an immediate tax deduction based on the donor’s age and that of his or her spouse. Charitable lead trusts are the inverse of charitable remainder trusts. During the term of the trust, HCS would be entitled to the income that it generates, rather than the donor. And at the end of the trust term, the beneficiary would receive the remainder of the assets, rather than the charity. Beneficiaries could include the donors, their children or other family members. Regardless of the type of trust, the donor receives an immediate tax deduction and also chooses the length of the trust term. It can be for a lifetime or for a specified number of years, up to 20 years. |
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| Click here for more information on ways to give. |
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This web site is intended only to be a brief summary and is not intended to provide you with legal or financial advice. Heritage Christian Services Foundation strongly encourages you to consult with your attorney or tax advisor before making a gift. |
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