The Arrow Giving back Year End 2012 â€”
2012 Year End Giving Ideas
Another Oak Hill Success Story Below is a letter recently received by Dr. Groves from Mr. John Heft, parent of OHA alumnus, Griff – ‘08. Mr. Heft shared the good news of Griff’s graduation from college and his appreciation to Oak Hill for making this possible.
Dr. Groves, io University “Griff” Heft, II graduated from Oh G. n Joh t tha f staf r you and you I wanted to communicate to ntly was hired by AdvizeX a 2008 graduate of OHA. He rece was He s. tion nica mu Com of lege is a partner of of EMC. in the Col ted in Cleveland, Ohio. AdvizeX loca be l wil and n isio div s sale Technologies in the of 2005, with a feeling of a fall Sunday morning in September on off ff Gri d ppe dro I en wh k bac y your plans seemed so I think easy leaving your child when initiall er nev is It . pus cam the d arte dep for us. I wanted emptiness as I the decision definitely worked out But y. awa rs hou six him g din r team much in place versus sen ipline, dedication and love from you disc from e cam s cces suc r the ano t you and your staff to know tha 2.8 GPA. his college in four years and had a to your students. Griff completed l memories of all my trips to Oak Hil The time goes by so quickly but the d. min my in remain positively etched and the games played on the road All the best, John Heft
OHA continues to provide our students the tools necessary for a successful future. At the end of last school year students were asked to share something they had learned while at OHA, or an important memory. A sampling of their answers follows: “I am happier.” “I am more responsible and more committed.” “A great moment I had during the school year was when I decided to join Leadership. Before coming here I was usually the social non-entity. I kept to a small group of friends of four or five, and blotted out the existence of others. Here I am able to be a leader on campus and open myself up to other people. I am more social and really friendly toward people.” “I have good grades and I am on the right track.” “I TRIED.” “I learned how to appreciate everything I have and everyone around me.” “I persevered through math class!” “I made an “A” in US History and stayed out of resource room all year. I am better at doing my homework and keeping my grades up.” “I made the “A” Honor Roll.” “I was never late for school.” “I was proud of myself when I got my grades up.” Oak Hill Academy thanks you for your continued support. Without you the cumulative success of our current and former students would not be possible.
Students Enjoy Fall on “The Hill”
2012 Year-End Gift Ideas Year-end giving is as easy as (1) making a charitable gift, and (2) saving taxes. We’d like to make it even easier with this primer on some of the best ways to save—and give.
Make sure your envelope is postmarked by December 31; if it is, your gift will qualify as a 2012 gift even if it is not received by us until the first week of 2013.
The tax laws intentionally encourage charitable giving. Because of the income tax charitable deduction, individuals who make their gifts by December 31 and itemize can significantly reduce their income taxes for 2012.
If you itemize, your outright gifts of cash are fully deductible for federal income tax purposes up to 50% of your adjusted gross income. If your total gifts should exceed this limitation, the excess may be carried forward for tax purposes for up to five additional years.
Example: If you make a charitable gift of $10,000 in 2012, you can save $3,300 in taxes if you are in the 33% tax bracket. And the higher your tax bracket, the more money you save with a charitable gift. Giving is, of course, much more than tax brackets and charitable deductions. Philanthropy provides the meaningful difference in what we can do. This brochure is only a brief introduction to some of the best tax–advantaged methods of giving. We would be pleased to provide you with further information. Also, we urge you to discuss your 2012 year-end tax planning with your accountant or other professional advisor. Gifts of Cash There is no easier way to garner a charitable deduction for 2012, and support us at the same time, than by simply writing a check!
The Arrow is published by the Development Office of Oak Hill Academy and is distributed to alumni and friends of the Academy. Oak Hill Academy 2635 Oak Hill Rd Mouth of Wilson, VA 24363 276-579-2619 www.oak-hill.net
President Dr. Michael D. Groves Board of Trustees Rev. Robert Bailey Mr. Kenny Bowen – ‘78 Ms. Bonnie Burke – P’07 Rev. Danny Collins Mr. Larry Conner Mr. Ralph Davis Mrs. Lisa Dockery Rev. John Duvall
Gifts of Stock Year-end 2012 may be an excellent time to consider a gift of stock. Giving long-term appreciated stock offers you a two-fold tax saving. First, you avoid paying any capital gains tax on the increase in value of your stock. In addition, you receive a tax deduction for the full fair market value of the stock. For income tax purposes the value of such gifts may be deducted up to 30% of adjusted gross income, with an additional five-year carry forward. Example: If you purchased stock many years ago for $1,000, and it is now worth $10,000, an outright gift of that stock to us would result in a charitable deduction of $10,000. In addition, you permanently avoid paying capital gains tax on the $9,000 of appreciation.
Mrs. Sidney Rose Fant Mr. Marshall Frank – P’08 Mr. Todd Fuller Mr. Dennis Gambill Mrs. Susie Garner Mr. Don Gibson Mr. Rex Halsey – ‘55 Mr. Rodney Halsey Dr. Thomas Harvey Mr. Marty Parks Mr. George Pelton – ‘67 Mr. Carl Rosberg
Mr. Jim Tapp Dr. Dennis Throckmorton Mr. Taylor Vaughan Mr. Harold Wingate P - Parent of OHA Alumnus
Gifts of Real Estate If you have owned your home, a vacation home, acreage, or a farm for many years, a charitable gift of that real estate can be especially tax–advantageous. The property may have so appreciated in value over the years that its sale would result in a sizeable capital gains tax. If given to us instead, you avoid the tax and, at the same time, realize a charitable deduction for the full fair market value of the real estate. You may also wish to consider a gift of your personal residence or farm, reserving the right to continue to live in the house or farm the property for life (and, if applicable, the lifetime of your surviving spouse). Through such an arrangement, you will be entitled to a current income tax deduction for a portion of the fair market value. Gifts of Life Insurance If you own a life insurance policy that is no longer needed, consider it as the perfect vehicle for a 2012 year-end charitable gift. To receive a charitable deduction, name us as both the owner and beneficiary of the policy. If the policy has a cash value, you can take a charitable deduction approximately equal to the cash value at the time of the gift. In addition, if annual premiums are still to be made and you continue to pay them, those premiums will become tax deductible each year. (It’s easy to contribute a life insurance policy to us. Just check with your life insurance agent for details on which forms to complete.) Life Income Gifts
A life income gift is often made through a trust arrangement called a “unitrust” or an “annuity trust.” With a unitrust, you and/or your spouse (or another beneficiary) receive annually a fixed percentage of the fair market value of the assets in the trust. The income received will vary from year to year, based upon how the trust’s investments perform. With an annuity trust, you and/or your spouse (or another beneficiary) receive a fixed amount from the trust each year. This amount is agreed upon when you create the trust; it stays constant, no matter what happens with the stock market or interest rates. If you have already considered a provision for us in your will, please note that a life income gift can often be preferable. Such a gift allows you to accomplish your goals during your lifetime—and in a tax-advantaged way. Potential Tax Law Changes Because of the potential for significant tax law changes at year-end, please check with your accountant or other tax advisor to review the best timing for your charitable contributions. These changes could impact your income tax, estate tax, gift tax, and/or other tax consequences for 2012 and beyond. For Further Information No one publication can tell you everything you need to know about 2012 year-end gift opportunities and which method would be the most advantageous for your particular situation. Be sure to check with your accountant or other tax advisor for additional information on how these general rules apply to your situation.
If you are considering a major gift, your gift of cash or stock in the form of a “life income gift” can significantly increase your income.
We would be pleased to provide you with additional information on any gifts you may be considering. Thank you for your support at yearend — and throughout the year!
A life income gift allows you to transfer assets now, and yet continue to receive income from the cash, stock, or other property contributed. A life income gift can allow you to: (1) increase your income for life; (2) receive a generous charitable contribution deduction in 2012; and (3) if you contribute stock, avoid any capital gains tax on the appreciation.
Copyright MMXII by Calder P. Sinclair
Donor Appreciation Dinner
On Saturday, November 12, Dr. and Mrs. Michael Groves hosted the seventh annual donor appreciation event. The afternoon began with everyone enjoying a home gold team game in Turner Gymnasium. Guests then made their way to Fletcher Chapel for a social time and choral performance by the Academy Choir under the direction of Mrs. Jeanette Black. The evening concluded with dinner being served in the Ussery Archives Room. A special thank you is extended to the staff of Meriwether-Godsey for a delicious meal. This special event was created to honor the donors of the academy who are members of the “Oak Club” and “Founders Club.” For more information on becoming a member of these giving circles or any of Oak Hill Academy’s other giving circles, please contact Mr. Tim Henry in the Development Office.
“Meet the Team” Event The eighth annual “Meet the Team” fundraising event will be held at 7:00 p.m. on Saturday, February 16, 2013, in Turner Gymnasium on the Oak Hill Academy campus. This year’s event will be held in conjunction with the home basketball game featuring Oak Hill’s nationally ranked Gold Team against Genesis Academy from Virginia.
reception there will be photo opportunities with the players and a drawing for an autographed game ball.
Make your plans now to attend this year’s “Meet the Team” event and support the mission of Oak Hill Academy. Please contact Tim Henry in the Development Office for more information or to reserve your ticket – 276-579 Your first ticket may be purchased for 2619 or firstname.lastname@example.org. a $100 donation and each additional ticket purchased for your family or group will be This is a great gift idea for any basketball $50. Participants will receive a reserved seat at fan!!! the game, an autographed Oak Hill basketball media guide, an Oak Hill Academy t-shirt, and the opportunity to meet the team and coaches SHOP FOR OHA MERCHANDISE ON-LINE! at a reception following the game! During the With a chill in the mountain air and basketball season underway, Oak Hill Academy students, parents, alumni, friends, and fans are always looking for Oak Hill spirit clothing! Cozy sweaters, comfy sweatpants, warm fleeces, hooded sweatshirts, and knit caps are among the favorites. Our line of sports apparel is a great choice when you are making your list and checking it twice this holiday season.
Shop on-line at www.oak-hill.net.
Are You Interested in Filling a Specific Need at Oak Hill Academy?
Wish List Current Giving Opportunities Digital SLR Cameras for Yearbook Staff (5 needed) $200 each DVD Recorder/VCR Combo for Library $300 Photoshop – Purchased! $400 Televisions for Academic Building (5 needed) $400 each Television for Girl’s Dormitory $500 Elliptical Machine for Girls Dormitory – Purchased! $500 Anatomical Models (6 needed) $200-$600 each Digital Camera for Publications Class $700 Rosetta Stone Sponsorship for ESL Class $2,800 Halsey House Remodel and Upgrade $50,000
Other Giving Opportunities (partial list) Alumni Campus Store Tile Memorial Oak Tree Named Display Case for Ussery Archives Room Named Scholarship Fund Technology Upgrade for Library Faculty Professional Development Fund Fund to Increase Faculty Salaries
$500 $1,000 $5,000 $10,000 $15,000 $50,000 $100,000
Gifts in Kind* Musical Instruments Backhoe or backhoe attachment for tractor Used vehicles, vans, or minivans *Potential gifts are evaluated by the school for condition and suitability prior to acceptance.
For more information or to make a gift to Oak Hill Academy, please contact Tim Henry, Director of Development, at 276-579-2619 or email@example.com.
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