Planned Giving

 

Giving to CCSI enables us to equip a new generation of leaders who think clearly, believe deeply, love generously and live passionately in service to God and his world. Your investment will make a difference in the lives of young men and women who will make a difference in our day. Thank you!  

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Real Estate

Outright Gift. A charitable gift of real estate allows a donor to support the mission of CCSI and at the same time avoid capital gains taxes and the stress of selling a property. This is an ideal option for donors with a property that has grown in value and for which the mortgage has been paid, or for donors with a second home, farm or other property that is not being used or requires management the donor no longer wants to engage in. Contact the CCSI Business Office to ensure that the transfer is approved and complies with gift acceptance standards.

Bargain Sale. A property can be sold to CCSI for less than its fair market value. The donor receives a cash payment from the sale, avoids gain on the part of the property that is a gift, and receives a federal income tax deduction for the portion of the property given to CCSI.

Retained Life Estate. CCSI accepts gifts of property which the donor retains the right to use for his or her lifetime. This is ideal for senior citizens who have sufficient assets for living and wish to have a current income tax deduction. The donor executes a deed transferring the property to CCSI, retaining a “life estate,” or the right to use the property for life.

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Life Insurance

Many people who enjoy financial success have a life insurance policy obtained at a time when they did not have the financial assets they now have. Donor can retain ownership of a life insurance policy and name CCSI as a beneficiary or co-beneficiary as part of their estate planning for a future tax benefit. Donors who transfer ownership of a policy to CCSI receive a charitable tax deduction for the gift, and reduce future estate taxes.

If a donated policy is paid-in-full, the donor receives a deduction for the replacement value of the policy. If the policy is paid-in-part, the donor receives a deduction equal to the amount of the current value of the policy, and may receive additional deductions for donations made to cover future premiums.

Some donors are able to afford more life insurance than they have and need for future security, and are willing to use this as an opportunity to benefit CCSI. By purchasing additional insurance and transferring ownership of the new policy to CCSI, donors receive a charitable deduction, and CCSI becomes the beneficiary.

Some donors may wish to leverage their life insurance to contribute stock or real estate equal in value to the life insurance they no longer need.

UM Logo_1Gifts in Kind

Gifts in kind include products (such as furniture, computers, office equipment), corporate services and facilities (such as financial and administrative support, office or meeting space, computer services, and printing), and professional services (graphic arts, design, advertising, marketing, legal assistance, strategic and financial planning).

CCSI welcomes gifts in kind on a pre-approval basis. Contact the Business Office to ensure that the transfer is approved and complies with gift acceptance standards. Donors are responsible for determining the fair market value of any in-kind gift, per IRS regulations. Donors are also encouraged to consult with their tax advisor before making a donation.

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Securities

To give a gift of stock, please notify us of your intention by mail, e-mail or phone,, and include your name, and the name and number of shares being transferred, and a designation of the gift for CCSI. Stock transfers should be made to the account of CCSI. The account is held with Ameriprise Financial. Account Number: 19415172. Agent: Stan Benson.

Donors who hold shares of stock in certificate form should 1) mail the unsigned certificates in an envelope, with a transmittal letter indicating your intention to give stock, and the purpose of the gift; 2) obtain a stock power of attorney from a broker or bank officer; 3) In a separate envelope, send the signed stock power of attorney and a copy of your transmittal letter. Send both envelopes to CCSI at the same time by registered mail or private mail service (e.g., FedEx, UPS). The certificates are not negotiable until both envelopes are received.

The date of an electronically transferred gift of stock is the date the shares are received in CCSI’s account. If mailed through a private mail service the gift is complete on the date both envelopes are received. If mailed through USPS, the gift is complete on the date of the postmark of the last envelope received by CCSI, if the envelopes are not received on the same day.

Receipts to donors indicate the number and types of shares. For recognition purposes, the donor of publicly traded stock will be credited with the fair market value which is determined by averaging high and low trading prices on the date of the gift. Stocks are liquidated as soon as they are received.

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Mutual Funds

Gifts of mutual fund shares or funds invested in stocks and bonds are similar to gifts of securities. Ownership of funds is transferred to CCSI. Donors are entitled to an income tax deduction for the value of the shares on the date the college assumes control of them. Like individual securities, there are no capital gains taxes on mutual fund shares that are given outright. If CCSI is required to establish an account with the company administering the fund, extra time should be factored into the transfer.

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Planned Gifts

Bequests. Bequests allow donors to retain ownership and use of assets in life, and benefit CCSI by designating it as a beneficiary in their will. Assets given to CCSI through a will are not subject to federal estate tax.

Charitable Gift Annuities. A charitable gift annuity is a contract between a donor and CCSI in which the donor gives cash, stock or appreciated property; in exchange, CCSI makes fixed payments to one or two individuals for life. This option is ideal for a donor with cash, stock or appreciated property that can be used to supplement retirement income, whether immediate or deferred. The donor receives a current federal income tax deduction, and a portion of each gift annuity payment to the donor is tax-deductible. Annual gift annuity payouts are based upon the donor’s age, with higher rates for older ages.

Charitable Remainder Trusts. A charitable remainder trust is an arrangement in which a donor contributes an appreciated property to a charitable remainder trust. The trust sells the property, makes payments for a lifetime or term of years, and then distributes the remainder to CCSI. The trust sells the property tax-free, avoiding capital gains tax; the trust pays a percentage of its value to the designated beneficiary; and the donor receives a current federal income tax deduction.

Charitable Lead Trusts. In a lead trust, assets are placed in a charitable trust for a specific period, after which the assets are returned to the donor, family members, or other individuals. While the assets are in the trust, the earnings of the trust are paid to CCSI. This arrangement benefits CCSI in the short-term, and ultimately a donor and his or her family. This option minimizes gift or estate taxes, and provides a current federal gift or estate tax deduction for the trust payments given to CCSI.

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Matching Gifts

Matching gifts are cash donations made by your employer, or your spouse’s employer, that are often equal to or larger than your initial gift. Your company may have a matching gift program that can double or triple the amount of your contribution. If your company offers a matching gift program, simply obtain a form from your HR department, fill it out with CCSI as the recipient, and mail it with your check made payable to CCSI.

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Please note: We are in the process of a formal name change from Centers for Christian Study (CCSI) to University Ministries.  Until that has been finalized with the Internal Revenue Service, we will continue to conduct financial transactions under the name of CCSI.

 

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