Financial Aid for Needy Students

The academy's vision is to make a college preparatory education with a biblical world view available to all children and youth, regardless of their ability to afford such an education. Unfortunately, the funds available to the academy thus far have been insufficient to make this dream a reality. A small endowment of financial aid funds for needy students does help some students attend the academy, but these funds are usually depleted rapidly each year.

Scholarship Endowment Fund

You may establish an endowed scholarship for a minimum gift of $5,000. Such a scholarship may be established in your name, or in the memory or in honor of a loved one in their name.

Gifts of Cash

Gifts of cash up to 50% of your adjusted gross income are fully deductible. In addition to that, donations in excess of the 50% limit may be carried forward for up to five years as deductions.

Gifts of Stock

A donation of stock usually allows the donor to avoid paying capital gains tax on the appreciated value of the stock. The donor also can usually benefit from a charitable deduction for the full fair market value of the stock at the time of the gift. It is almost always beneficial to the donor to donate the stock to the academy, rather than sell the stock first and then donate the money. It is also usually helpful to the donor if the stock has been owned at least twelve months before it is donated. Stock donations are deductible up to 30% of your adjusted gross income.

Gifts of Real Estate

Land, farms, houses, vacation homes or other forms of real estate may be donated and qualify as a tax deduction for the full fair market value of the property. By donating the property directly to the academy, capital gains taxes are avoided. You can also donate your house to the academy and you and your spouse can continue to live in the house your entire lives--and you can still receive a tax deduction for the current year. Financial advisers and estate attorneys are available to help you make these arrangements.

Charitable Remainder Unitrusts

You can transfer cash, stock or property to the academy and establish a charitable remainder unitrust (CRUT). The CRUT can provide you with a lifetime income reduce your tax liability and benefit the academy at the same time!

© Copyright 2008 Nashville Christian Advancement Academy
3551 Dickerson Pike * Nashville, TN 37207 * Phone: 615-860-3740