Development

DEVELOPMENT The Joy of Giving

There are people and organizations in our lives that we will never be able to repay. One of the greatest joys of my job is to hear from those who have been forever impacted by the work of Mount Dora Christian Academy & Children’s Home and want to give back. I received such a letter this week. Many decades ago, MDCA&CH assisted a gentleman from Alabama (now a retired NASA engineer) with the adoption of his precious son. He is now asking to create a scholarship for students going to college. “I am eternally indebted and most grateful for all the assistance,” he exclaimed. “This scholarship is my opportunity to personally express my deep appreciation to your staff and the Home.”

This scene gets repeated nearly every week. Many of the people whose lives we have touched feel a burning desire to help someone else. There is no better time to give back than right now. With inflation at record highs, the expense of providing a safe, Christian Home has increased dramatically. Even before this latest inflation surge, the average American family spent $848 on back-to-school notebooks, utensils, uniforms, shoes, backpacks, daily lunches, extracurricular activities, transportation, and extra educational materials at home!

Consider also the hardships families are facing with the necessities: • Gasoline - In 2019, the price of gasoline was $2.21. Today it is $3.72. This means the cost of getting to and from work, transporting kids, driving to church, and picking up groceries has almost doubled. • Food - Food prices in April 2022 were 9% higher than they were in April 2021. Breakfast cereal prices have increased twice in one year. Even mac and cheese has gone up 20%. • Rent - The cost of rent is up 25% since last year.

Never before in the history of Mount Dora Christian Academy & Children's Home has your gift been more crucial to the success of our children. Without the support of our donors, the hopes and dreams of a safe and secure home for disadvantaged children and an affordable Christian education would simply not be possible.

Good news for annuity customers I have good news to share with those who are considering a charitable gift annuity (CGA). Because interest rates are rising, the American Council on Gift Annuities increased the payout rate on new charitable gift annuities as of July 2, 2022. It's the first increase in two years. With a CGA, a donor gifts a lump sum of money to a charity like MDCA&CH and in return receives a guaranteed fixed annual income for life. The payout rate varies with the age of the donor. Thanks to the new rates, a 75-year-old donor gifting $10,000 will now receive a $600 payout each year compared with $540 under the old rates. In addition, the one-time charitable deduction on that gift increases from $4,663 under the old rates to $4,818 under the new rates. CGAs are popular with senior adults who want a guaranteed lifetime annual income not subject to the chaos of the stock market. Contact me in the Development Office for a personal illustration based on your age and situation.

The legal and tax information contained herein is merely a summary of our understanding and interpretation of current tax law. Please consult with your accountant, financial planner, or attorney for additional information.

Residents Baptized

We always rejoice when one of our residents at Mount Dora Children's Home chooses to accept Jesus as their savior and be baptized. Single parent, Wesleyana Presy, was baptized recently at Orange Avenue Church of Christ in Eustis by Chuck Shepherd, director of Social Services. At Central Florida Bible Camp this summer, Thompson House resident, Maleah Hughes, was baptized. Maleah is a junior at Mount Dora Christian Academy. She was baptized by Scott Simpson, youth minister at Orange Avenue Church of Christ. Please pray for the spiritual growth of all our residents at the Home and students at the Academy.

3 | Imagine · Fall 2022