If you are hearing more about the Christian School Foundation lately, you may be wondering, “Why?” The short answer is drawn from the Biblical story of Esther: “. . . for such a time as this.” Let me explain using three stories.
Tony Kamphuis, Christian School Foundation’s CEO, was speaking at a school and mentioned that we increasingly have donors who would like to give non-traditional gifts – things like securities or property. Giving these types of gifts to Christian schools means the donor is able to divert some of what would go to capital gains taxes to a Christian school instead. One person, who hadn’t realized that sort of gift was even a possibility, has since arranged a non-traditional gift of $30,000. Christian schools on their own are not set-up to accept these kinds of gifts easily.
Our Foundation is here “for such a time as this,” handling multiple gifts like these as they become increasingly popular.
Variety in planned gift options
Henry Koornneef, the Foundation’s Executive VP and a Certified Financial Planner, was visiting with a couple recently. When Henry mentioned a planned gift, the elderly man rolled his eyes. “Oh,” he said, “We’re not interested. That means we give a gift, you lock it up and the school only gets the interest. Do you know how low interest rates are?” Yes, we do.
In fact, the Christian School Foundation has a wide variety of planned gift options. The majority of our planned gifts are NOT “in perpetuity” gifts. Instead, people donate and say, “Please use this up over 10 years,” or “Please give only the interest for 10 years and then give the principal.” For such a time as this, when donors want creative ways to bless Christian schools, our Foundation is here to be nimble and creative.
This point in history
Kamphuis and Koornneef, along with Meghan Van Pelt, the Foundation’s Executive Assistant, have attended events hosted by our partners at Christian Stewardship Services (CSS). Maynard Wiersma, Executive Director of CSS, recently related this story:
“I asked my father, ‘Do you have a will in place?’ Father: ‘Oh yes, I took care of that years ago.’ Wiersma: ‘Who did you put as the executor?’”
A simple follow-up question revealed that the person named 25 years ago could no longer act as the executor and that the will should be updated.
As Wiersma’s story shows, even people with the best of intentions need the opportunity to review their estate plans. CSS predicts that the next five to seven years will see the current wave of significant wealth transfers grow even stronger! Christian schools need to get the word out that their supporters have an opportunity to leave a planned gift that can be part of their legacy. Our Foundation is taking the lead in arranging Will Clinics in partnership with CSS, because stewardly schools should not ignore the times we are in.
This article is sponsored by the Christian School Foundation.