Unlike other giving methods, cash gifts will provide an immediate benefit to Christ Classical Academy as we seek to pay for the acreage and create a campus. Gifts of cash are tax deductible in the current year (typically up to 50% of your adjusted gross income with a five-year carryover of any unused portion) if the gift is received by December 31st.
Gifts of Appreciated Assets
Charitable gifts of appreciated securities such as stocks, bonds, or mutual funds, held longer than 12 months, may be deducted at their full fair market value while avoiding capital gains tax. These gifts may be deducted up to 30% of your adjusted gross income with a five-year carryover of any unused portion.
Real estate gifts are transferred in the same way as appreciated securities and allow for deductions at the full fair market value of the property. Capital gains tax can be avoided in most instances, but appraisals are needed to fully deduct the transfer of your gift.
Outright gifts of appreciated assets provide a tax deduction based on the fair market value of the asset transferred, with no capital gains tax on the appreciation. To ensure proper credit on your gift, check with your professional tax advisor, as certain specific rules may apply.
Gifts-in-kind are items given for use through a program or project. Automobiles, trucks, boats, or building materials may be fully deductible, depending on the type of gift.
Tangible personal property related to Christ Classical Academy's exempt purposes and uses can be fully tax-deductible at their full fair market value. However, gifts that are not related to our tax-exempt purposes will be limited in deduction to the cost basis.
Life Income Plans With Charitable Trusts
Many giving options allow you to make a year-end gift and still receive an income for life from your giving plan. Life income plans such as gift annuities or charitable trusts can provide unique tax and income advantages and can be designed to meet your individual needs. Please contact us for specific information regarding the benefits you can receive from a life income plan.
Estate Planning
You may also support Christ Classical Academy through your will or estate plan. Gifts made through your will or living trust can provide considerable future tax benefits, which allow more of your assets to pass to those you care about. Our estate planning consultant will be happy to assist you with more information regarding your estate planning needs. Call us at 850-656-2373 to set up an appointment.
Matching Corporate Gifts
Many employers will match your charitable gifts, meaning your gifts are worth even more. If your company or firm has a matching gifts program, ask your personnel office for the form to enclose with your check.
