The following vehicles of giving provide donors the flexibility they seek in making philanthropic decisions. You may request more specific information from Tommy Blackmon, Director of Advancement, at (864) 234-7575, Ext. 1302 or tblackmon@southsidechristian.org.
Your financial advisor and legal counsel will be an asset to you as you steward your resources and should be consulted before making these important choices.
Southside Christian School appreciates all levels of support for current operations, endowment, and capital purposes, and gladly accepts gifts of cash, securities, and certain types of property.
CURRENT GIFTS
Cash Gifts
· Tax deductible if donor itemizes deductions.
· Up to 50 percent of adjusted gross income can be deducted in any one year.
· Excess can be deducted over the next five years.
Pledges
· Payable over a three- to five-year period.
· Deductible in the year a payment is made.
Matching Gifts
· Takes advantage of programs offered by many employers.
· Leverages donor’s gift to a higher level.
· Learn whether your employer has a matching gifts program. You may also contact your Human Resources Department directly. Mail your gift with the Matching Gift Form to:
Southside Christian School
Office of Advancement
2211 Woodruff Road
Simpsonville, SC 29681
Appreciated Property
· If qualified as a long-term capital asset (a year and a day), property should be given outright.
· Avoids payment of capital gains tax due if property were sold.
· Deduction given for full value of property, limited to 30 percent of adjusted gross income.
· Excess beyond 30 percent can be carried forward for five years.
Property that Has Lost Value
· Donor sells the property, takes loss for tax purposes, then contributes the cash received from sale.
· Deduction given from both the loss and the charitable gift.
· Amount of contribution is fair market value on the date of transfer.
· SCS will evaluate gifts of real property before accepting them to determine if they are appropriate to the schools mission.
Securities
· Produces a current tax deduction equal to fair market value of the stock.
· Could reduce liability for accumulated earnings tax.
· A contributor to SCS may find that planned giving offers attractive benefits. It can increase current income for the donor or others, reduce the donor's income tax and avoid capital gains tax and pass assets to family at a reduced tax cost, while offering a significant donation to SCS.
PLANNED GIFTS
Bequests
· Provides a plan to leave a legacy gift to the ministry of SCS to those who are currently unable to make an outright gift.
· A specific bequest will involve donating a set amount or percentage of assets from an estate to SCS
· Residual bequests are left to SCS after all debts, expenses, and taxes have been paid from an estate.
Charitable Gift Annuity
· Provides a fixed income for the lifetime(s) of one or two annuitants.
· Amount paid determined by the rates recommended by the American Council on Gift Annuities.
· Portion of gift and income are tax deductible.
Life Income Trusts
· Trust assets are funds or property contributed by donor (usually $100,000 or more).
· Flexibility in type of property that can be donated.
· Real estate and municipal bonds may be used.
· Provides a fixed amount of income. (Charitable Remainder Annuity Trust)
· Provides a variable level of income. (Charitable Remainder Unitrust)
Charitable Lead Trust
· Donor provides assets for use for a limited period of time.
· Funds are invested to provide income to your organization.
· Assets returned to donor or to estate at end of designated period.
· Can fulfill a pledge while reducing estate and gift taxes that might otherwise be due on assets given outright to heirs.