In order to reach our capital campaign goal for Ministry in Motion and continue the growth of our Annual Fund, St. Croix will need outstanding participation from all sectors of the St. Croix community. This will require an understanding of the many ways to give to the school which are most advantageous to you-the donor.
Combination of Current & Planned Gifts
Cash: You can make cash gifts preferably in the form of a check payable to St. Croix Lutheran High School. The benefit of a cash gift is that your dollars begin working for the school immediately.
Pledge: You can make a larger commitment to the school by making a written pledge. Pledges will usually cover three years. Please contact the development office for more information on making a pledge.
Gifts of Appreciated Property: Gifts of appreciated property are a common way for you to benefit St. Croix and, at the same time, generate a tax savings. In many cases, you can avoid capital gains tax by transferring the appreciated asset to St. Croix instead of selling it and donating the proceeds. The most common gifts of appreciated property include stock, mutual funds, and real property.
Many opportunities are available in the area of planned gifts. Quite often an individual is capable of making a more significant gift to St. Croix through planned giving rather than through a cash gift.
Planned gift options
Will Bequest: A bequest through a person's will is a simple, yet effective, way of providing a gift to St. Croix after a person's death. The bequest may be a fixed dollar amount, a bequest of a specific property, a bequest of a specific percentage of a person's estate, or a bequest of the residue of the person's estate. The will bequest, of course, is drafted as a provision in a person's will and only takes effect upon a person's death.
Insurance: There are numerous ways that insurance can be utilized in charitable planned giving. The two most common ways are:
St. Croix is named as the beneficiary or shared beneficiary in a person's life insurance policy. At the insured's death, St. Croix will receive all or a portion of the life insurance death proceeds.
St. Croix is the owner and beneficiary of a life insurance policy on the life of the donor. Each year the donor makes a gift to St. Croix in the amount of the insurance premium and receives a charitable income tax deduction for that amount. St. Croix pays the annual life insurance premium. At the donor's death the life insurance proceeds are paid to St. Croix, and none of the proceeds are included in the donor's estate.
Charitable Gift Annuity: A charitable gift annuity is a simple arrangement in which a donor makes a gift to St. Croix, and in return St. Croix promises to pay to the donor an annual income for life or for the life of the donor and another person, usually the donor's spouse. The amount paid to the donor is determined by his/her age: the older the donor the higher the rate of return. The donor receives an income tax charitable deduction in the year the gift annuity is set up, and a portion of St. Croix's annual payment to the donor is income tax free.
Charitable Remainder Unitrust: A charitable remainder unitrust is a tax-exempt trust that pays the donor(s) income for life or for a term of up to 20 years. Each year the income the donor receives is based upon a fixed percentage times the fair market value of the trust assets. In addition the donor is able to bypass capital gains tax on appreciated assets given to the trust. Futhermore, the donor receives an income tax deduction in the year of the gift. When the trust terminates, the trust assets go to St. Croix.
Charitable Remainder Annuity Trust: A charitable remainder annuity trust is similar to the charitable remainder unitrust, except that the donor (or donor's spouse) receives an income for life that is the same amount each year. The amount the beneficiary receives each year is determined by multiplying a fixed percentage times the fair market value of the trust assets at the time the trust is set up.
Gifting through Retirement Plans: Today with individuals finding themselves with large retirement plan assets and large IRAs, there are various charitable giving opportunities. Many times if St. Croix is named a beneficiary of a retirement plan or IRA, the assets will come to St. Croix after the retiree or retiree spouse's death with minimal estate and income tax reductions. If the retirement benefits are received by someone other than the donor or his/her spouse, the retirement plan assets may be subjected to tax rates as high as 75-80% or more.
Combination of Current and Planned Gifts
A third way to provide current support and maximize giving potential is to combine a cash or current-asset gift with a planned gift.
Need more information on how to make a planned gift to St. Croix? .
Thrivent Matching Program
Thrivent announced that educational institutions will be among the recipients in their new matching funds program, GivingPlus. SCLHS will apply to become a recipient under the new administration and guidelines of this program.
The list below contains some significant new statutes to consider when making donations and applying for matching gifts through the new GivingPlus program.
- Matches will be made at the new rate of 50 cents per dollar.
- Thrivent Members will be those who are 16 years and older and have purchased Thrivent services.
- Non-members may seek matching gifts for only 2 years and are limited to $50- $100 gift ranges.
- Members will be limited to 2 matching gifts per year, for 2 separate institutions, in the range of $50-$400.
- Volunteers who have contributed 25 or more hours of service may increase their matching range an additional $100.
- Fundraising events will NOT receive any matching gifts, including Auction, Fishing and Golf Tournaments.
- Worship offerings and donations to a congregation will NOT be matched.
- The Giving Plus program will be funded on an annual basis and may include limited funds, pending in part on the financial success of Thrivent.
When SCLHS is approved to receive matching gifts from Thrivent's GivingPlus program, we will have Matching Forms available for your use at the Development office.
Employer Matching Gifts
Check with your Human Resources Office. Pick up a matching gift form. Fill out your part. Send it with your gift to St. Croix.