What is the SACS Foundation?
Founded in 2015, the San Antonio Christian School Foundation is a nonprofit organization that manages endowments and other long-term gifts for the benefit of SACS programs and facilities. Receiving gifts for SACS through a separate nonprofit foundation has multiple benefits. Gifts are invested to increase earnings. Funds are used for purposes designated by donors. Privacy is protected by keeping giving and financial records confidential. The Foundation raises and distributes its funds solely for the benefit of San Antonio Christian School.
What is Planned Giving?
Planned gifts assure future support of San Antonio Christian School through a variety of financial agreements between the SACS Foundation and its donors. Planned giving can improve your personal finances while making a tremendous difference in the educational and religious teaching of SACS students. If you want to create a planned gift to SACS, the Foundation will work with you, your attorney and other advisors to design the best gift plan for your individual situation. Following is a summary of some planned giving options.
Types of Planned Giving
Some donors choose to give life insurance policies to the SACS Foundation either as an immediate gift or as a provision upon their passing. Donors who consider giving life insurance policies do so because they have no heirs or because they already have made provisions for beneficiaries through other financial vehicles. There are different types of life insurance gifts. Please consult a tax advisor or legal counsel about your specific life insurance gift.
Charitable Remainder Trusts (CRTS)
CRTS allow a donor to make a gift to the SACS Foundation while at the same time achieving financial objectives. CRTS irrevocably transfer money, securities, real estate or other assets to a trust that pays an income for life or for a period of years. The trust also can pay an income to another beneficiary. At the death of the surviving beneficiary, the remaining principal in the trust goes to the Foundation. Donors should consult their financial advisors to select the charitable remainder trust that serves their needs.
Donors may consider making the SACS Foundation a beneficiary of a percentage of their pre-tax qualified retirement plan—Individual Retirement Account, 401k, 403b, Thrift Savings Plan, etc. This transfer of assets is done through a beneficiary designation form. Pre-tax funds are received by the Foundation free from income tax liability, leaving other tax friendly assets available to pass on to family and other heirs. Contact a SACS Foundation representative for information necessary to complete the beneficiary designation form.
A bequest through a will is the most common type of planned gift. It does not draw on assets during a donor’s lifetime. Bequests can be estate distributions of cash, securities, real estate or personal property. Types of bequests include a percentage bequest, a fixed-dollar bequest, a residual bequest and a contingent bequest. Important estate tax savings can result from a bequest.
How to Initiate a Planned Gift
A planned gift to the SACS Foundation should reflect your interests, your desires and your legacy. A Foundation representative will work with you and your financial advisor to create a gift agreement that designates the specific areas of San Antonio Christian School you want to benefit. For more information and assistance please contact:
SACS Foundation and Development Officer
19202 Redland Road, Building Z
San Antonio, TX 78259