Make a Difference
Joseph…who owned a tract of land, sold it and brought the money and laid it at the apostles’ feet. Proverbs 22:9a (NASB)
You can make a difference by giving others the opportunity to benefit from The King’s Academy. Consider adding us to your charitable contributions. Click on the Giving Button below to donate today!
Other Ways to Donate
To give CASH, give by check or other means of giving cash.
SAVE: Deduct gifts up to 50% of your adjusted gross income in any one year. Carry over any excess into as many as five tax years.
To give SECURITIES, send an unendorsed stock certificate in one envelope and a signed stock power form in another envelope. The gift is complete on the postmarked date of the later envelope. A donation of stock usually allows the donor to avoid paying capital gains tax on the appreciated value of the stock. The donor also can usually benefit from a charitable deduction for the full fair market value of the stock at the time of the gift. It is almost always beneficial to the donor to donate the stock to the academy, rather than sell the stock first and then donate the money.
SAVE: Deduct the full current value of the stock and bypassing any capital gains tax, which might be due on a sale. Deduct such gifts up to 30% of your adjusted gross income in any one year. Carry over any excess into as many as five tax years. Securities must be long-term (held longer than a year) to qualify for favorable tax treatment.
To give PERSONAL PROPERTY, deed or deliver property to the academy. Land, farms, houses, vacation homes or other forms of real estate may be donated and qualify as a tax deduction for the full fair market value of the property. By donating the property directly to the academy, capital gains taxes are avoided. You can also donate your house to the academy and you and your spouse can continue to live in the house your entire lives—and you can still receive a tax deduction for the current year.
SAVE: Deduct the current value of your cost in the asset, depending upon how the asset will be used. Consult your tax adviser or attorney for details. Note: A qualified appraisal is required if you are claiming a charitable deduction of $5,000 or more.
To give LIFE INSURANCE, assign a charitable beneficiary (or owner and beneficiary) of an existing or new policy.
SAVE: Take a deduction if you name a charitable owner and beneficiary. Consult your tax adviser or attorney for details.
To give a BEQUEST, include the academy in your will for a specific amount, a percentage of your estate, or a remainder gift after bequests to individuals have been paid.
SAVE: Take an estate tax deduction for full value of your bequest to the academy.
To give through a TRUST, one efficient way is to set up a charitable remainder unitrust and transfer cash, stock or property to the academy. Advisers are available to assist in establishing the trust to benefit you and the academy.
SAVE: The CRUT can provide you with a lifetime income, reduce your tax liability and benefit the academy at the same time! For counsel on this and other trust options, consult your tax adviser or attorney, or contact the Office of Development at the academy.
You may want to consider including the academy in your estate plans. A bequest to The King’s Academy will help to provide a Christian education for future generations. Now may be a good time to review your will and estate plans, or to establish these plans if you haven’t already done so. Even if you have established a living trust for the management of your assets, a will is an important and essential legal document that we all need and that should be reviewed periodically. It is recommended that the services of a reputable estate planning attorney be obtained to draft a will that assures your wishes will be carried out.
If you established a will some time ago, several things should be considered:
- If it has not been reviewed recently, it may produce some significant problems for your heirs, rather than making things easier for them.
- It may not reflect your current assets.
- It may not be consistent with changes in the tax laws, and may not offer the greatest tax saving strategies.
- It may not represent your current wishes regarding your beneficiaries. (Perhaps your dependents are now grown.)
- If you have moved to another state, your old will may be invalid.
- Your original will should be safely stored where it is protected from fire and theft.
- Your choice of executor should know where your will is located and should have information about your accounts, assets and funeral plans.
But just as you excel in everything—in faith, in speech, in knowledge, in complete earnestness and in your love for us—see that you also excel in this grace of giving. 2 Corinthians 8:7 NIV