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What IS THE Little Rock Christian Academy Foundation?

The foundation is a registered 501(c)(3) non-profit organization formed to provide a perpetual source of revenue that supports Little Rock Christian Academy.  The sole purpose of the foundation is to promote, secure, invest and properly manage gifts of bequests, cash, life insurance, property and securities; which will provide annual investment interest or earnings from endowment funds for the benefit of Little Rock Christian Academy.

What is an endowment fund?

An endowment is a fund that is restricted.  Only the earnings from the fund may be spent.  Endowment funds give an institution, like Little Rock Christian Academy, longevity which cannot be guaranteed by annual gifts and tuition revenue alone. These funds are designed to accept bequests (testamentary gifts made through a donor’s will), memorial gifts, even gifts of property or cash. Endowment funds are established so the fair market value of the donor’s gift will remain intact and permanently appropriated to the designated fund. The resources given are invested in securities; so the school uses income earned by the fund to advance its mission.

What are the advantages OF giving TO THE LRCA Foundation?

Charitable gifts to the LRCA Foundation are generally tax-deductible. Certain gifts such as charitable remainder trusts, which designate the Foundation as the lifetime recipient of income or as the beneficiary of the trust, may provide considerable tax incentives for the donor. Charitable gifts may include cash, stocks, real estate and personal property.

How can I give to or establish a named endowment?

You may add to any existing endowment fund with a gift of cash, or with a planned or deferred gift to be conveyed upon death.  Property such as stocks, mutual funds, and real estate can be given while allowing you to still control the cash needed for daily life. When you give appreciated properties you may receive a deduction based on the full or fair market value of the asset, while also avoiding capital gains tax due if/when you sell the property.

To establish a named endowment a donor shall give a minimum of $25,000 as a one-time gift or within a period no more than two calendar years. Each named endowment must be approved by the Foundation Board and a certified gift agreement will be produced for both donor and foundation records.  All named endowments also receive an annual performance update for purposes of stewardship and accountability.

For more information about endowment giving, please contact Cindy McLeod, Director of Advancement.  We also encourage you to discuss this exciting giving opportunity with your financial planner or tax advisor.