Vehicles for Giving
The outline of gift-giving that follows is a guide to help you think through the ways you can become a part of Seacrest Country Day School in its efforts to create an environment in which students and teachers will work together for a better future.
You can give CASH
You can give SECURITIES
You can give ART/ANTIQUES
You can give LAND AND PROPERTIES
You can give INTEREST IN A TRUST
From cash gifts to sophisticated trust arrangements, there are many creative ways to give to Seacrest and, at the same time, provide benefits to you for making the gift. As someone who is interested in and committed to the education of our children, you can maximize the amount of your gift by considering the many options described here. To discuss any of the following giving options, or for more information, please contact Karl M. Salathé, Director of Institutional Advancement, KSalathé@seacrest.org .
A direct, outright gift involves an immediate transfer of cash or other assets to Seacrest School. This is the simplest method of gifting and benefits Seacrest right away. The amount of the deduction can vary, depending on the nature of the property and its unrealized capital gain. Generally, the deduction cannot exceed 50% of your "adjusted gross income"; however, there is a 30% limitation on certain property that involves an unrealized capital gain. If the gift exceeds these limitations, there are provisions for a carry-over into future tax years.
Pledges are valued contributions and periodic cash payments are more convenient for certain families. Income tax deductions are available when each gift is made. The Development Office will be happy to work with you to plan a pledge program of up to five years which accommodates your financial position while recognizing your ongoing commitment to Seacrest.
Individual Retirement Accounts are a standard retirement and planning device with specific tax implications. Designating Seacrest School as a beneficiary of an IRA can have positive benefits on both income tax and estate planning. It even involves the excess accumulation that has an impact on larger IRAs that have grown above $750,000. Consult your legal advisor to save substantial taxes as well as help Seacrest.
Charitable Remainder Trusts
Charitable Remainder Trusts are attractive if you want to give substantial cash or assets to Seacrest while retaining the income benefits for the rest of your life. It also provides a current income tax deduction in the year of the gift.
Charitable Lead Trusts
Charitable Lead Trusts are the opposite of the remainder trust just described. This type of trust permits you to make a substantial current gift to Seacrest, but still keeps the property within your family when you die. In this type of trust, your gift is the income (interest) from the assets which saves you income taxes. This type of trust is a particularly useful vehicle when you have sufficient income and wish to reduce your current income tax. When the trust terminates, the assets revert to the donor or a designated beneficiary.
In addition to a previously named trust, Seacrest can be named as a beneficiary of a Trust that continues after the death of the donor. It is a trust in which the assets eventually can either go to the School or on to the family. This is valuable when the children are wealthy, and the donor wishes to benefit the grandchildren at a future time. Meanwhile, the School receives benefits.
Designating Seacrest Country Day School as the beneficiary of a life insurance policy can save estate taxes and be a logical gift without reducing current assets. Seacrest can be assigned the sole beneficiary to policies that are no longer needed for family financial security. In addition, you may qualify for an initial income tax deduction equal to the approximate current cash value of the policy.
Please remember that it is important to consult with your attorney and accountant before making a decision on a major gift.