Innovative Charitable Options
When you take stock into your financial assets you may be surprised at how much you've accumulated. Once you added your home equity, retirement, bank and investment accounts together, it may be a number that surprises you pleasantly! Making a gift to Concordia High School at your passing will allow you to leave an eternal legacy and even reduce your taxes!
Many of the options listed below do not require an attorney and can be set up easily by you!
Our desire is for you to discover the joy of giving to those who need your help far into the future.
Wills and Living Trusts
No charitable gifts can be made from your estate without a stated designation through a will. To do so, please use the following bequest language:
“I, [name], give, devise and bequeath to Concordia High School, the sum of [$ ______ or ____ % of my estate].”
Whether you use an attorney or computer software to prepare your will or Living Trust, please consider the option of naming Concordia High School with a gift of any amount or percentage. Your gift will support our mission far into the future.
Retirement Accounts, Live Insurance & Annuities
Do you know who you've named as your primary beneficiary? Did you know that you can also name a contingent (secondary) or even several beneficiary's by stating a percentage amount? Is it possible, and it is a very easy process.
You can name Concordia High School as your primary or contingent (secondary) beneficiary on your investment accounts. Please consider reviewing your beneficiary information and designating Concordia High School as your primary or contingent (secondary) beneficiary on your 401(k), 403(b), IRA, Annuities, or Life Insurance policy.
These assets require separate beneficiary forms. The beneficiaries of these assets can be easily modified at any time to meet your changing needs. For workplace accounts, you may be able to make your designation online or through your HR department. For private accounts, you can contact the investment company to request a beneficiary designation form.
Please use the following language:
“I designate Concordia High School to receive the sum of [$ ______ or ____ % of my account/policy].”
Because most retirement plans are tax-deferred and therefore subject to income tax to your beneficiaries, retirement assets make ideal gifts to our mission. Naming Concordia High School as the beneficiary of retirement assets upon death generates no income taxes. The benefit to our school will be tremendous at your passing. Your legacy will be carried on far into the future!
These assets go directly to your beneficiary and do not flow through your Will or Living Trust.
Retirement Accounts are tax-deferred; you don't pay taxes until you withdraw the money.
Annuities work in a similar fashion.
Life Insurance is income tax free.
All of these may also be subject to estate taxes if your estate is large enough at your death.
Bank and Investment Accounts
You can do this by putting POD (Payable on Death) or TOD (Transfer on Death) designation on those accounts to Concordia High School. Ask your financial institution for assistance as they will be happy to help!
Bank, Credit Union and regular (Non-IRA) accounts can be transferred.
Gifts of Appreciated Securities
Please contact your financial advisor for assistance.
For more information, please contact our Development Office at 512-248-254
Gifts of appreciated securities (assets of stock, land, etc., worth more now than at the time you purchased them) also benefit Concordia High School and you can avoid paying unnecessary taxes as well.
Gifts of Real Estate
You can even donate your house now, live there the rest of your life and receive a large income tax deduction.
Before you begin the process, please let us know your intentions first. Once we are aware of your plans for making this type of donation, we will want to make sure your goals can be realized within our gift acceptance policies. We will also need to inspect the property and perform other types of due diligence.
Did you know that you can donate your house or other real estate and receive a significant income tax deduction?
Gift Annuities and Charitable Trusts
Please ask your tax advisor how you can set up a Charitable Gift Annuity or Charitable Remainder Trust with Concordia High School as the beneficiary.
A Charitable Gift Annuity is a way to make a donation at your death, receive a lifetime of income for you or a loved one and receive an income tax deduction.
Please contact Concordia High School for more information.
512-248-2547
It would be our pleasure to help you leave a legacy gift in your name, which will have a lasting impact on the mission of Concordia High School for years to come.
The information contained herein is for explanatory purposes only and is not intended to be used as tax advice. Concordia High School recommends that you contact a professional tax advisor who can provide you with additional information on how your participation in the programs mentioned on this site may affect your personal tax situation.
