The bequest is the most common form of planned giving. With a bequest, you may make provisions for KCFS in your will, designating either a dollar amount or a percentage of your estate to the school. Whatever the amount, bequests to KCFS are entirely free from federal estate tax and the estate and inheritance taxes of most states. Bequests should be prepared and executed with your attorney’s assistance.

Real estate may provide a convenient way to support KCFS. You may contribute real estate as an outright or deferred gift. For example, with a life estate agreement, a donor can make a gift of a home or farm while retaining life tenancy. Gifts of real estate should include a letter of transmittal with instruction for use of the gift.

You may assign KCFS as a beneficiary, co-beneficiary, or a secondary, remainder, or residual beneficiary of your life insurance policy. Annual dividends also may be assigned to KCFS. When KCFS is named as owner of a policy and/or the irrevocable beneficiary, the cash value of the policy may be deducted on your income tax return. The premiums paid thereafter also are income tax deductible.

Also known as a charitable income trust. It is the converse of a charitable remainder trust. Whereas a remainder trust pays the income to noncharitable beneficiaries and then distributes the remainder to charity, a lead trust pays the income to charity and distributes the remainder to noncharitable beneficiaries.

Under the guidelines of the fund, money is irrevocably transferred to the fund, where it is invested together with similar gifts from others. Each beneficiary receives his or her share of the pooled income fund’s deductible income each year. This form of giving provides an immediate charitable deduction, offers income for life and eliminates estate taxes on the amount contributed.

The charitable remainder annuity trust shares many features with the unitrust, the principal difference being the manner of calculating the payment to the income beneficiary. If you wish to guarantee a fixed dollar income each year, the annuity trust offers you that option. This amount must equal a sum of not less than five percent of the initial fair market value of the gift in trust. In most cases, you will wish to receive the income for your lifetime. You also may wish to provide for your spouse or another beneficiary. When the beneficial interest in the annuity trust ends, the principal goes to KCFS to accomplish the goals you specify at the time of your gift. No additional contributions may be made to an annuity trust, but you may establish more than one.

The charitable remainder unitrust is a gift that pays you income for life and can also provide income for a successor beneficiary for life. It provides an immediate tax deduction, freedom from estate taxes. A charitable remainder unitrust provides for a fixed percentage of return of not less than five percent of the value of the trust’s assets valued annually. Because of that annual valuation, the payout to the donor will rise and fall with the economy. The rate of return is agreed upon at the time you establish the unitrust, however, the higher the rate of return the smaller the charitable deduction. When the beneficial interest in the unitrust ends, the principal goes to KCFS to accomplish the goals you specify at the time of your gift. Additional contributions may be made to a unitrust.

The Charitable Gift Annuity is a simple contract between you, the donor(s) and the KCFS/(Underwriting Company). Your tax deductible gift will be used to fund an annuity that will guarantee you lifetime income, and then upon death, the principal goes to KCFS.