Gifts of Cash and Check
Simplicity and ease of delivery make cash the convenient asset to donate. For tax purposes, gifts of cash are considered to be complete on the date they are personally delivered, or postmarked if mailed. Cash gifts include donations of maturing bonds and certificates of deposit, money market accounts, and savings accounts.
Cash gifts will have an immediate impact upon the program for which the funds are allocated. Checks should be made to Des Moines Christian School and mailed to DMCS Development Office, Suite 100, 13007 Douglas Parkway, Urbandale, IA 50323
Electronic Transfer
Increasingly popular and easy way to make a gift is through monthly auto-withdrawals from your bank account. It is simple and convenient way to make recurring gifts or to make payments on a pledge. The transfer is set up through your bank to be deducted on the 15th day of each month.
Credit Card – Pending
In the near future, donors will be able to contribute is through a credit card gift. These gifts can be made by contacting the DMCS Development Office at 515-252-2496. Watch this page for upcoming information.
Corporate Matching Gifts
Maximize your gift! Many employers sponsor a matching gift program that can maximize the impact of charitable contribution by employees and retirees.
Des Moines Christian School is grateful for gifts from matching gift companies and the many donors who submit matching gift forms. The businesses and corporations, listed here, have supported Des Moines Christian School through their matching gift programs in recent years.
Specific details about your matching gift program can be obtained through the Human Resource office at your work place.
Gifts of Stock or Securities
By giving a gift of securities that have increased in value since you purchased them, you may take the current market price as tax deduction, you owe no income tax or capital gains tax on the increase. These gifts are unique in that the donor can take a federal tax deduction for the full, fair market value of the stock, regardless of how much the donor paid for the stock. No capital gains taxes apply.
To receive the full deduction, it is important that you transfer the ownership of these assets to DMCS instead of selling them and donating the proceeds of the sale. IF you sell the asset and then gift the proceeds, you will be responsible for capital gains taxes. Transferring ownership eliminates the capital gains tax.
You can also use these assets to fund a charitable gift annuity. This does not eliminate the entire capital gains tax, but it does spread it out over the life of the annuity. We can provide you with an illustration to show you how you can use stock to fund a charitable gift annuity and receive an income for the rest of your life.
For more information please call the Development Office at (515-252-2496). Gifts of appreciated stocks or mutual fund shares provide immediate support to the school. Donors may realize substantial tax savings by transferring appreciated stock or securities to the school prior to the sale. Capital gains on the amount of appreciation may be avoided, and the donors may receive a tax deduction based on the fair market value of the stock or property at the time of the gift.
Contact the Development Office advising of your stock gift either by phone, e-mail or by letter. Please indicate your name and, how you want your donation to be used. We will connect you with the school’s broker for this transfer.
Gifts-In-Kind
In-kind gifts of equipment or other items relevant to our educational programs will be receipted as received by the school. IRS regulations do not allow the school to assign or verify the value. The donor, through purchase receipt or appraisal, determines gift value for tax purposes.
For items large enough to have capital gains tax implications, it may be necessary to transfer the ownership of these assets to DMCS instead of selling them and donating the proceeds of the sale. Please consult the school to assess whether the school is able to receive your in-kind gift. DMCS does not accept vehicles at this time.
Memorial/Honorarium Donations
One way to support Des Moines Christian School is through memorial/honorarium giving. It allows you to honor family, friends, living or deceased, while helping to support Christian education. Gifts can be made in celebration of a special occasion such as an anniversary, birthday, retirement or other special reason.
Acknowledgement letters are sent to the donor and notification is made to the family of the deceased or to the individuals being honored. Memorial/Honorarium cards are also available at the Development Office.
If you would like to include a family member or friend in the program, click on the appropriate form below or contact Samona Yentes at Des Moines Christian School Development Office, Suite 100, 13007 Douglas Parkway, Urbandale, IA 50323.
Real Estate
Des Moines Christian School may be in a position to accept gifts of land or other real estate. Like gifts of securities, the appreciation portion of a real estate gift for Des Moines Christian School Christian may help the donor avoid capital gains tax while realizing a tax deduction. Please contact the Development Office directly if you are considering a gift of real estate.
Bequests
Des Moines Christian School advises that bequests be directed to the DMCS Foundation.
Bequests are gifts made through a will or living trust. They are especially popular for people who want to make a gift of significant size but cannot give up income or capital during their lifetime. The future gift is revocable, and you retain control of the assets to meet future needs. Bequests of all sizes benefit Des Moines Christian School. You can make a gift in the following ways:
A percentage of your total estate. In using this approach, your gift adjusts with changes in the size of your estate.
The residue or a percentage of the residue of your estate. After your specific gifts to loved ones have been made, you may designate that the entire residue or a percentage of the remainder shall go to one or more charitable organizations. With this approach as well, your gift adjusts with changes in the size of your estate.
A gift of a specific amount. You specify a dollar amount to be given to one or more charitable organizations. With this kind of gift, it is especially important to keep your will or trust up-to-date.
Contingent bequest. You specify that DMCS is to receive a gift only in the event of the death of other beneficiaries.
The following is sample bequest language you may take to your attorney:
I give, devise, and bequeath [insert amount of gift, percentage of estate, or residuary of estate here] to the Des Moines Christian School Christian Foundation, located at 13007 Douglas Parkway, Urbandale, IA 50323
The Iowa State Bar Association has provided information about the value of having a will.
For guidance in how to begin the process of making a will, use this Will Information Kit.
Life Insurance
Many individuals have life insurance policies whose benefits they no longer need. If this applies to you, you may want to consider naming DMCS the beneficiary and assigning us ownership of the policy. In doing so, you will receive a charitable deduction; and in removing the life insurance policy from your estate, you may also reduce your estate taxes.
Life Income Gifts
The Des Moines Christian School Foundation offers two types of life income arrangements: the charitable gift annuity and the charitable remainder trust.
Charitable gift annuity
The charitable gift annuity pays a donor a rate of return for one or two lives. For example, a husband and wife, ages 81 and 77, could get an annual rate of 7.0 percent for their lifetimes, with quarterly payments. The rate is based on the age of the donor. The older the donor, the higher the payment rate, up to a current high of 11.5 percent per year. This is a relatively simple transaction.
Charitable remainder trust
Under a charitable remainder trust, you make a gift to the DMCS Foundation in a trust, reserving the income to yourself, another person, or yourself and another person, either for life or a set number of years. At the end of the trust, the remaining assets are distributed to DMCS. Charitable remainder trusts are complex legal instruments. Consequently, the use of an attorney and professional trustee, such as a bank trust department, is usually advisable.
Retirement Plans
Retirement plans are excellent assets to leave to DMCS. IRAs and qualified retirement plans such as 401(k)s, when passed on to heirs, can incur as much as 70 percent in taxes because this asset faces double taxation. Not only is the plan benefit reduced by estate taxes, but the recipient must also pay income taxes on the plan.
If you plan to make a Legacy Gift to DMCS, you may want to consider naming us the beneficiary of your 401(k), pension, or other retirement plan, and leaving other assets to your family. Naming us the primary beneficiary avoids all income and estate taxes on the retirement plan. Of course, you can also name DMCS for a portion of the assets, or as a contingent beneficiary, with the gift to be effective only after the death of a spouse or other family member.
Moreover, in 2001 the IRS issued favorable, simplified new rules for calculating minimum annual payments from IRAs and other retirement accounts such as 401(k)’s. These new rules make it easier for you to accumulate more savings - tax deferred - in your account. Now you can name DMCS as a beneficiary without increasing the minimum amounts you must withdraw each year. By taking advantage of these new rules, you can keep more tax-deferred savings in your account during your life, and designate an important future gift to DMCS.
To designate DMCS, simply contact your plan manager, ask for a change of beneficiary form, and name Des Moines Christian School Foundation as the beneficiary.
