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| DEVELOPMENT: Planned Gifts |
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Planned giving allows a donor to make a gift commitment to the HP Baptist School Foundation but to delay delivery of the final benefit of the gift until a later date. Donors who make planned gifts to the HPBS Foundation may receive tax and income benefits. Some types of planned gifts result in lifetime incomes for the donor and/or other benefits. Some may entail reduction of income taxes, capital gains taxes and estate taxes.
Types of Planned Gifts
Examples of the ways that donors may make planned gifts to the HP Baptist School Foundation include the following:
- Bequest
- Charitable remainder trust
- Gift annuities
- Deferred payment gift annuities
- Making the HP Baptist School Foundation the beneficiary and owner of a life insurance policy
- Gifts of a remainder interest in a personal residence, farm, or other real property
- Charitable income trusts
It should be noted that the tax laws, which govern such gifts, are subject to revision; therefore, it is extremely important to meet with your own financial advisor to have up-to-date information on the tax benefits and/or consequences of such gifts.
Planned gifts are subject to the review and approval of the Gift Acceptance Committee established by the HP Baptist School Foundation. It is recommended and appreciated for the donor to provide the HP Baptist School Foundation with a completed and signed Deferred Gift Letter of Commitment form (link to FORMS where this form can be downloaded and printed)
Gifts of Real Estate
Gifts of real estate may often bring a significant gift within the reach of many donors. The Hyde Park Baptist School Foundation welcomes opportunities to explore with donors gifts of real estate. Some donors may wish to give real property to the HP Baptist School Foundation and retain a life interest for themselves and/or spouse. Such gifts may benefit both the donor and, ultimately, the HP Baptist School Foundation.
In this highly specialized field, all potential gifts of real estate will be reviewed in accordance with the policies established by the HP Baptist School Foundation. Real estate gifts, which require the HP Baptist School Foundation to commit to expend funds for land or site development and general ongoing usage, must have appropriate coordination and prior approval before the gift can be formally accepted.
Under IRS regulations, the donor must pay for any initial appraisal made on the property. It is the responsibility of the donor to cover all the costs involved in an environmental impact study and/or title search, unless waived by the HP Baptist School Foundation Board.
Please contact the
HPBS Office of Development
512-465-8333 x1149
for more information
about planned giving to
Hyde Park Baptist Schools.
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