Westminster Christian Academy

Giving Information

Giving NowReading

Many Americans support charities every year to take advantage of federal and state tax laws that allow them to reduce their tax burden through tax deductions. Such deductions are generally regulated, but the timing and mount of gifts are within your control.

  • Cash gifts - Most gifts received by charities are in the form of checks and cash. Depending on your tax bracket, if you itemize your tax deductions, cash gifts can be deducted in amounts of up to 50 percent of your adjusted gross income.
  • Securities - Individual stocks, bonds or mutual funds that have increased in value provide additional tax savings when give to charitable organizations. If you have held the security for more than one year, you can deduct the full value for tax purposes, as well as avoid capital gains taxes at the time of sale. The current deductible amount is up to 30 percent of adjusted gross income on qualified assets.
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Giving Later

Long-range financial planning can help support Westminster Christian Academy beyond your lifetime and avoid estate and gift taxes for your families in the future. We encourage this act of stewardship, which will assist in creating a legacy of giving in your family. There are many different ways to give, including:

  • A will or living trust - You may leave a specific amount or a percentage of your remaining estate, after you have provided for your family.
  • Retirement plan proceeds or life insurance beneficiary designations - These funds can be used in a way that can render them exempt from gift, estate or income taxes.
  • Annuities - Annuities can retain income for you or others and provide tax savings at the same time.

Please consult with professional advisors before selling or giving any securities to a charity, and always consult a tax advisor about current tax law regarding charitable gifts. Westminster Christian Academy does not render tax or legal advice for any purpose; Westminster is a ministry of Redeemer Presbyterian Church and as such is registered as a 501(c)3 organization with the IRS.