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Planned Giving

Family Endowments Aid San Diego Academy Students

By Will James

Two wonderful women recently left generous legacies to the Paradise Valley church in their wills.

Bernice Sheidler, widow of the late George Sheidler, who for many years owned and operated George's Wonderful World of Cakes in National City, left a gift of $35,000 to establish an endowment at Southeastern California Conference for Christian education at San Diego Academy for students from the Paradise Valley church.

Bernice Sheidler

Image of Bernice SheidlerBernice was a volunteer at the Paradise Valley Hospital for many years and a loyal supporter of the Paradise Valley church and Community Services. She faithfully attended the church's rummage sales to see what she could buy to support the Community Services. Even when she was too weak to attend herself, she asked others to go and tell her what was there so she could buy something.

Bernice passed away during one of the rummage sales. Her daughters donated several truckloads of items she had collected over the years to be sold at the next rummage sale. At that sale Community Services raised a record of more than $12,000, a large percentage of which was from Bernice's estate.

Dr. Pedro & Ramona Villanueva

Ramona Villanueva, widow of the late Dr. Pedro Villanueva, left the Paradise Valley church $55,000 in her will to be used as endowment moneys for Christian education. Through the years the Villanueva family helped many children to attend San Diego Academy.

Image of Dr. Pedro & Ramona VillanuevaDr. Pedro and Ramona VillanuevaThe legacy of these two families will live until the Lord comes as these funds generate scholarship funds for students at San Diego Academy every year.

In 1995 Southeastern California Conference established the SECC Education Endowment for all of the schools and child development centers in the conference. The funds are professionally managed and overseen by the SECC Investment Committee. Each school and center may have their own subfund. In order to stimulate giving to this endowment fund, the conference has been matching gifts given each year. The circumstances during the year these gifts were made, 2008, allowed SECC to provide a dollar-for-dollar match, thus doubling the principal to $180,000.

The goal of Paradise Valley church members is to establish a $1 million endowment for student aid at San Diego Academy, thereby guaranteeing that every student who wants a Christian education can be assured of one. Members are giving more than $3,500 a month in student aid at San Diego Academy and looking for ways to do more.

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A charitable bequest is one or two sentences in your will or living trust that leave to Southeastern California Conference of Seventh-day Adventists a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state ZIP], give, devise and bequeath to Southeastern California Conference of Seventh-day Adventist [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to SECC or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to SECC as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to SECC as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and SECC where you agree to make a gift to SECC and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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