Calvin Christian is rooted in the work of those who have gone before. The Calvin community today enjoys the fruit of the vision, dedication, and investments of our founders and those who followed after them over the past five decades. Today we are also called to plant the seeds of the future, to sow for a harvest that will reaped by future generations.
Most planned gifts and bequests to Calvin Christian help build the school’s endowment fund. Contributions to the endowment fund are held in perpetuity, with a portion of the annual earnings used for financial aid and special educational projects.
There are many ways that you can leave a legacy for future generations attending Calvin Christian School, while at the same time providing yourself and your family (or other beneficiaries) with significant financial benefits. In addition to outright, tax-deductible cash gifts, creative ways to give include bequests, life income agreements, asset gifts, and beneficiary designations.
- Bequests. Perhaps the easiest and most common way to make a planned gift is through your will. Yet more than 50 percent of Americans do not have one. A bequest in a will can take the form of a set amount of money, a percentage of an estate, a specific asset, a trust, or naming a ministry as a contingent beneficiary.
- Life Income Agreements. A life income agreement could allow you to contribute assets to Calvin Christian, while providing income for yourself or others for the remainder of your life, their lives, or a fixed number of years. Two common life income gifts are the charitable gift annuity and the charitable remainder trust. An annuity can be funded with a gift of as little as $5,000 and will provide a fixed, guaranteed income. A charitable remainder trust requires a larger contribution and offers income at a variable rate. Both the gift annuity and the remainder trust, as well as other life income options, offer tax advantages, such as a charitable deduction and possible reduction of estate or capital gains taxes.
- Asset Gifts. When contributing stock, real estate or other appreciated assets, you receive a charitable deduction and usually avoid any capital gains taxes. Also consider using an asset gift to reduce estate and inheritance taxes.
- Beneficiary Designations. Naming Calvin Christian as a contingent or primary beneficiary of a life insurance policy, pension plan or retirement account is likely to provide tax savings for you and your heirs, and it’s as easy as filling out a beneficiary form.
Planned gifts often require the assistance of professionals, such as an accountant, attorney, or financial planner. One resource at your disposal is the Barnabas Foundation. Because Calvin Christian is a Barnabas Foundation member, their expertise and services are available to our constituents at no charge and without obligation.