How can you contribute to the present and future growth of Covenant Christian Academy?
First, you should know that all gifts to CCA are tax-deductible. Tax laws intentionally encourage charitable giving. Because CCA is a 501c3 non-profit organization, families and individuals can make a variety of types of gifts to CCA and enjoy tax benefits in return. Please remember, every person’s tax situation is different and CCA is not advocating a specific tax position. Please consult with your individual tax advisor to determine the deductibility of your contribution.
Gifts of Cash
Many families choose to give cash donations to Covenant Christian Academy. Such gifts are fully deductible, for federal income tax purposes, up to 50 percent of your adjusted gross income.
Gifts of Stock
Gifts of appreciated stock represent a twofold savings opportunity. You avoid paying any capital gains tax on the increased value of the stock, and you receive a tax deduction for the full market value of the stock as of the day of the gift. If you would like more information about this type of gift, please contact Johnathan Arnold for specific details about transferring appreciated stock as a gift to help CCA.
Gifts of Land
Gifts of appreciated land also represent a twofold savings opportunity. Like stocks, you can avoid paying capital gains tax on the increased value and receive a tax deduction for the full market value of the land as of the day of the gift.
Memorial Gifts, Life Insurance or Bequests
A gift in memory of an individual who is deceased or a gift honoring a member of your family is a wonderful remembrance. Gifts may be of any amount. Family members will be informed of memorial gifts, and the appropriate individuals notified of honor gifts. You may donate a life insurance policy that you no longer need. Covenant Christian Academy must be named the owner and beneficiary of the policy. If the policy has a cash value, you receive a charitable deduction equal to the cash value on the date of the gift. If you are still paying annual premiums, you may deduct the value of the premiums each year. Bequests: These may be earmarked for a specific use or left to the discretion of the school trustees.
A bequest of funds or property is exempt from federal estate tax and inheritance tax in most states.
When making a bequest within your will, please specify your gift, including the amount. The most common ways to specify your gift are:
- Designate a specific dollar amount
- Leave a percentage of your residuary (remaining) estate to CCA
It is also important to use the correct legal name of the school and the proper address:
Covenant Christian Academy, 6905 Post Road, Cumming, GA 30040
If you or your spouse works for a company with a matching gifts program, you can double or even triple your gift! CCA, like all private institutions, while raising funds for expansion projects, must also raise funds to supplement its operating budget. Giving is not about a big dollar commitment; it is about heart-felt participation and the acknowledgement that each of us can prayerfully give an amount that God has enabled us to give. Every gift, no matter what size, has a crucial impact on the school and the quality of education CCA offers. Please prayerfully consider giving to CCA in at least one of these areas:
- A designated gift to our Adopt-a-Family fund. The Adopt-a-Family fund provides tuition assistance to needy families that are otherwise unable to attend CCA. What a great privilege it is to be used by God to bless a needy family by giving the gift of Christian education to a child!
- A gift to the general fund. Gifts to the general fund provide flexible, unrestricted support for faculty and students each year. These gifts are essential to CCA’s overall budget as the full value of the gifts is immediately available for use where it is most needed.
- A gift to the building fund to continue construction of new campus facilities.
Other ways to support CCA
Use Publix and Ingles commitment cards, Target Red Card, donate ink cartridges, Coke Rewards Program, collect and submit Box Tops for Education and Campbell’s soup labels, participate in our spring Golf Tournament (March 24), pray for the ministry of the school, and recommend Covenant Christian Academy to Christian families. You may also be eligible to take advantage of the Georgia Tax Credit through GASSO. More information about this tax credit can be found at www.georgiasso.us.
Please check with your accountant, tax attorney, or tax advisor to discuss the gift method that best suits your situation. For more information on how you can help, please e-mail questions or comments to Headmaster Johnathan Arnold at email@example.com.