YOUR SCHOLARSHIP CONTRIBUTION MATCHED UNTIL SEPTEMBER 1, 2017
For the second time in two years, Austin Grad has received a matching grant for scholarships from a charitable foundation. While we are extremely grateful for this important grant and have already expressed our gratitude, the foundation has requested that their identity remain anonymous. The rules for the matching grant are as follows:
- Any gift given to Austin Grad during the specified time period will be matched dollar for dollar up to $7,500.
- The time period for the grant is January 1 thru September 1, 2017.
- Both outright gifts and pledges will be accepted as long as the pledge is paid within 12 months from the time pledged.
- Gifts to this matching grant qualify for charitable contributions in 2017.
We welcome your contribution which will be of help to our students in pursuing their education.
Please send your contribution to Austin Grad marked for scholarship support and it will be matched by this generous foundation. If you have questions call the Development office at Austin Grad at 512-476-2772 or toll free at 1-866-287-4723. Thank you.
Possible Expansion of IRA Charitable Gift Rules
We have learned that a new bill has been introduced in Congress which, if passed, would expand the current rules on making charitable gifts from IRA accounts. This bill (HR 5171) is known as the Legacy Act of 2016. The bill would allow IRA owners over the age of 65 to transfer up to $400,000 per year from their IRAs into life income gifts such as Charitable Remainder Annuity Trusts, Charitable remainder Unitrusts or Charitable Gift Annuities. In 2015, rules allowing IRA charitable gifts for those 70-1/2 and older were made permanent. (Read about IRA gifts under “Ways to Give” below). Of course, the passage of the Legacy Act of 2016 is unknown at this time. We will keep you informed as more information becomes available.
Continuing the Dream Campaign (CTD)
Austin Grad is in the midst of a fund raising campaign known as the Continuing the Dream Campaign (CTD). The CTD campaign is a comprehensive campaign designed to receive charitable contributions in support of the mission of Austin Grad.
Unlike a capital campaign that raises money primarily for a new building or equipment, this campaign will strengthen existing programs, establish new ones and will secure the future of Austin Grad.
The Board of Trustees has identified several areas to be supported by the campaign including the new online BA program, marketing and recruiting, scholarships and increasing the institutional endowment fund.
The goal of the CTD campaign is $3.5 Million. To date over $2.3 Million has been raised. We will be happy to provide more information on the CTD campaign. Simply call the school and ask for a campaign brochure.
Since funds from the Light Bearers and Keepers of the Flame donors are so important to the day to day operations of the school, we are asking that donors continue their annual or monthly contributions. Hopefully, some will see the CTD campaign as an opportunity to help Austin Grad and our students with a contribution in addition to the regular support they now provide.
WAYS TO GIVE
There are several ways in which one may make charitable gifts to support Austin Grad. Here are a few suggestions:
Gifts of Cash: Cash gifts are perhaps the easiest and simplest way to support Austin Grad. A check sent through the mail is the most common way that philanthropic support is received. However, cash may also be given by credit card, through our online “Give Now” link above or by arranging with your bank to send regular contributions. These gifts are of tremendous benefit to Austin Grad. Gifts of cash, given regularly, provide the luxury of planning as well as sustaining the day-to-day operations of the school. Such gifts are fully deductible in accordance with existing tax laws.
Gifts of Securities: A gift of stock is just as meaningful to Austin Grad as a gift of cash. To some donors a gift of stock may even provide extra benefits. Such a gift is deductible at its full fair market value. Moreover, any capital gains tax on the appreciation of the stock will be avoided if it is given as a gift to Austin Grad rather than sold and the proceeds then given.
For those who are concerned about the legacy of Austin Grad and who want to continue their service in God’s kingdom, even after their life on this earth has passed, here are some considerations:
Life Insurance Gifts: Some have life insurance policies that will not be needed for the original purpose purchased. By naming Austin Grad as the beneficiary of such a life insurance policy, often a gift can be made that may not otherwise be possible. That gift will be used after the donor’s life is over to continue supporting his/her interest in the school.
Life-Income Gifts: Gifts such as Charitable Remainder Trusts or Charitable Gift Annuities support the mission of the school now while providing the donor with a sizable income tax deduction and an income for life, some of which is tax-free. Upon the death of the donor, the amount remaining in the trust or the annuity agreement comes to Austin Grad for continuing support.
Gifts in a Will: By including Austin Grad in a will (or a living trust) one can make a substantial contribution to support the mission of the school for many years into the future. For those without family members, the entire estate or a portion of it can be left to the school. For those with heirs, the school may be included for a portion of the estate just as if it were a family member.
Our brochure, Looking Beyond; extending our faith and Christian values beyond our lives, may be helpful in making your estate-planning decisions. It contains suggested wording for including Austin Grad in your will. To receive a complimentary copy, with no obligations, please call the Development Office at 512-476-2772.
Gifts from IRA: For donors 70-1/2 or older, gifts to Austin Grad may be made from IRAs. Instruct your IRA plan manager to transfer the gift directly to Austin Grad from your IRA. Do not have the funds sent to you as a regular distribution or they will be taxable. Gifts from your IRA transferred directly to a charity does not count as your personal income and therefore is not reportable on your IRS return. Your IRA gift also counts as part of your required annual distribution. Tax-free IRA gifts are limited to $100,000 per year.
Keepers of the Flame
Keepers of the flame support the school with an annual, one-time gift. Gifts may be mailed to Austin Grad or made online by clicking the “Give Now” button above.
Light Bearers sustain the school and its mission through monthly contributions. Gifts may be mailed to Austin Grad or made online by clicking the “Give Now” button above.
MEMORIAL OR HONOR GIFTS
Any gift may be given to Austin Grad to memorialize or honor someone. Below are two special ways to memorialize a deceased loved one or to honor a special friend. If you choose to pay for a day or pay for a week of instruction, please be sure to notify us of the name and address of the person you wish to honor; or the name and address for the family of the person you wish to memorialize in the Special Instructions block.
Pay for a Day
By making a one-time gift of $500 or by committing to $500 given over a period of up to one year, you may honor or memorialize an individual or group with the Pay for a Day giving option. Instruction on the day that you choose will be in recognition of the individual or group you choose. Notification of your gift will be sent to them and a poster will be placed outside our front offices on the specified day acknowledging the honoree. The poster will then be sent to those you chose to honor or to the family of the one you chose to memorialize.
Pay for a Week
Pay for a Week of instruction is also an option. A week of instruction is $2,500. As with Pay for a Day, Pay for a Week can be either a one-time donation or a commitment over a one-year period.
Many companies will match employee gifts to Austin Graduate School of Theology. To find out if your employer is a matching gift company, click the following link or speak with your human resources department. Companies That Will Match Employee Donations.pdf
Austin Graduate School of Theology certifies that it is a 501(c)(3) non-profit corporation.