Ways of Giving
The below listed items are just a few of the ways that you can support Lutheran education through the Lutheran High School Association.
Consider a cash donation to the Lutheran High School Association. A gift to the Foundation is a great way to celebrate birthdays, anniversaries, confirmation, graduations or honor someone through a memorial gift.
Existing life insurance policies can be left to the Foundation by changing your beneficiary designation. A new life insurance policy can be purchased specifically to provide for ministry of the LHSA. If the LHSA is the owner of the contract, your premiums may be deductible as a charitable gift if you itemize deductions on your tax return. You will want to work with your financial planner to make sure you select the appropriate type of life insurance policy that will not be a liability to the LHSA.
Naming the LHSA as a beneficiary designation on your life insurance, IRAs, or 401ks is a wonderful way to leave a legacy after you are gone. Pre-tax gifts, such as IRAs and 401ks are an especially good way to leave money to the Lord’s work. The charity will not pay income tax on the gift and a beneficiary designation of an individual will pay income tax as funds are withdrawn from a qualified plan (such as an IRA or 401k).
Tax-deferred earnings in a non-qualified annuity will also be taxed to an individual beneficiary, but not when left to a 501c3 organization.
Consult your financial planner, accountant or attorney for more information on the benefits of leaving qualified or tax-deferred money to charities.
Special Designated Gifts
There are many unique charitable opportunities available today such as Charitable Annuity Trusts and Charitable Remainder Trusts, these will provide donors with an income during their lifetime, give them a current tax deduction, and provide a legacy for ministry after they are gone. You can also establish your own charitable foundation to benefit the LHSA and other charities.
Please consult your financial planner, the Lutheran Community Foundation, a Lutheran Church Missouri Synod Planned Giving Counselor or your Thrivent Financial for Lutherans Financial Associate for information on these unique opportunities.
Gifts of Appreciated Property
When you donate a gift of highly appreciated property such as stock or real estate, you can (in most cases) avoid paying income tax on the growth in the value of the asset and the full market value will be considered as a charitable deduction. Of course, you should check with your accountant for tax advice.
Remember the LHSA in your Will or Trust
Remembering the Lord’s work through our high schools by leaving funds to these ministries in your will or trust can be a powerful testimony to your family of the importance of a Lutheran education.
There are so many ways you can help the ministry of the Lutheran High School Association now and long after you have received your final reward. We encourage you to prayerfully consider these many options to further the kingdom.
This information is not meant to give legal or tax advice. Each situation is slightly different. Allow your financial planner to provide options for you to consider. Formal professional advice should come from your legal and tax advisors.