The Arrow Giving back Year End 2015 â€”
2015 Year End Giving Ideas
HOW OAK HILL ACADEMY SAVED MY LIFE “Thanks a lot, Dad, for sending me to boarding school!” Those were the sarcastic last words I defiantly said to my father when he dropped me off at Ingram dormitory in January, 2001. Riddled with anger at the time, I said to myself that I would never forgive him for sending me away. Meanwhile, with tears in his eyes, my father reluctantly retreated back to his car and began his five hour trip down the windy mountain road back home. Blinded by emotion, neither of us knew at that moment that sending me to Oak Hill Academy would turn out to be the best decision of my life and his. Looking back, it was really his only choice at the time. As an eighth grader, I was a disobedient, disrespectful, and rebellious underachiever. I loved my parents but rarely showed them or gave them reason to love me back. Growing up in Raleigh, NC, I had been a smart kid, but I rarely made smart decisions. In elementary school, I excelled academically, athletically, and socially. However, by the time I got to middle school, my personality took a bad turn. I spent my days skipping school, hanging with the wrong crowd, and making poor decisions. I became stubborn, unruly, and argumentative, not just with my own parents but with all authority figures. I was the renegade in a family full of successful people. After finding myself in trouble at school and at home, my life was at an all-time low. Oak Hill saved me. Before I realized that I was saved, however, I went through a rough transition. At times, things were harder than I ever imagined. When I first arrived at my new “home” in Mouth of Wilson, VA, I was petrified. I was a tiny, insignificant eighth grader with zero confidence. Mounds of snow covered the campus and the cold mountain wind was inescapable. The weather was highly representative of my mood. I missed my friends back home. I specifically remember one night that I couldn’t control my emotions. I broke down into full blown tears – uncontrollable tears. The dorm parent, Mr. Henderson, must have sat in my room for an hour until I finally calmed down. The first two years were rough. I missed home every day, but my friends at home seemingly didn’t miss me. Slowly, I began to turn my attitude around at Oak Hill and gained the respect of my peers and teachers in my new home. It took time, but after a while, I made friends with most of the students, dorm parents, teachers, and administrators. The skinny little boy who showed up with no friends in the winter of 2001 eventually became the “big man” on campus, both socially and especially academically. I had forgotten how smart I was and how successful I could be until I got to “The Hill.” Perhaps it was the fear of failure that drove me to focus harder. Perhaps it was the smaller class sizes and the mandatory, nightly study hall sessions that allowed me to concentrate harder. Perhaps it was the confidence I gained by working with the teachers and administrators that inspired me to push myself harder. Perhaps it was the peace and serenity of the Blue Ridge Mountain range that encouraged me to put my priorities in life into perspective. Most likely, it was a combination of all of the above that set me up for a level of success that neither I, nor my family, could have predicted. I went from class clown in eighth grade to class president in my senior year! I graduated in the spring of 2005 as valedictorian, captain of the baseball team, and winner of the Mr. Oak Hill award. I maintained a GPA of 3.96 in high school and won several academic awards in my classes. Looking back now, I realize that this school was the turning point in my life. The teachers at Oak Hill gave me a much higher level of responsibility and self-respect to uphold. The small class sizes allowed the educators to be right by my side at almost all times – offering the helping hand and underlying encouragement needed to achieve success inside the classroom and out. It was clear to see that they, like my parents, were committed to making sure I reached my full potential. The faculty and staff at Oak Hill were special people who felt motivated and rewarded by the success
of their students. My mentors went the extra mile for me and I know, without a shadow of a doubt, that each one of them played a massive role in my growth and achievement. They believed in my potential. They believed in my ability. They believed that I could achieve my dreams even when I didn’t share their faith in me. They stood by me as I grew from a young, insubordinate kid into a mature, confident young man with a sense of purpose. My family and I are so lucky to have had such a positive experience at Oak Hill. My father, Pete Powell, has said many times that “Oak Hill turned my son around. They gave him back to his family and the world. We will be forever grateful.” My mother, Wray Fleming, a high school teacher, remembers that a colleague of hers had told her that her son was going to be the kind of student who would challenge his teachers to challenge him. As she states, “The teachers, staff, and administrators at Oak Hill Academy truly embraced Ben and met that challenge with dedication, professionalism, and encouragement.” I know in my heart of hearts that thousands of young students have been blessed with that same guidance that my folks were talking about. Thanks to the relentlessly uplifting and remarkably upbeat faculty and staff, I was able to start my life all over again. After graduating with honors in 2005, I left Oak Hill to attend the University of North Carolina-Wilmington, where I majored in Communication Studies. I graduated from college with a 3.5+ GPA and pursued a career as a television news reporter and multi-media journalist. I started my post-college journey as a lowly production assistant at WECT-TV 6 in Wilmington, making the minimum wage of $7.25 per hour. But thanks to the work ethic and dedication instilled in me throughout my years at Oak Hill, I quickly worked my way up through the ranks. I was promoted several times for exceptional performance – from photographer to reporter to weekend anchor. In January 2015, I moved across the state and accepted a new job at a top 40 market in the Triad region of North Carolina. I now work as a multi-media journalist for WFMY News 2, a CBS affiliate in Greensboro. I’m also engaged to be married to a lovely, caring, special woman named Laura Paige. Not a week goes by without my thoughts returning to Oak Hill and the relationships I formed there. I think about the teachers. I think about my friends. I think about all the administrators. I think about everyone who helped mold me into the man I am today. I also think about what my life might be like had I not attended Oak Hill. Fifteen years ago, the goal of going to college and the prospect of becoming a television news reporter were absolutely unbelievable. Oak Hill taught me that I could achieve an amazing and fulfilling level of personal success. The people at “The Hill” are responsible for helping me realize that dreams really are attainable. I will forever be grateful and indebted to Oak Hill Academy for saving my life. My hope is that one day, I will be able to give back to the school that gave me my life back. GO WARRIORS! Ben Powell Class of 2005
2015 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 2015 gift even if it is not received by us until the first week of 2016.
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 2015 Example: If you make a charitable gift of $10,000 in 2015, 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 2015 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 2015, 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
five additional years.
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
Gifts of Stock Year-end 2015 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. Rev. John Duvall 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 Mrs. Theresa Lazo
Mr. Marty Parks Mr. Carl Rosberg Mr. Tom Saunders Mr. Jim Tapp Ms. Mary Thomas 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.
in the form of a “life income gift” can significantly increase your income. 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 2015; and (3) if you contribute stock, avoid any capital gains tax on the appreciation.
If you own a life insurance policy that is no longer needed, consider it as the perfect vehicle for a 2015 year-end charitable gift.
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.
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 or the adjusted basis.
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.
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.)
For Further Information
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
Life Income Gifts If you are considering a major gift, your gift of cash or stock
No one publication can tell you everything you need to know about 2015 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. We would be pleased to provide you with additional information on any gifts you may be considering. Thank you for your support at year- end - and throughout the year! Copyright MMXV by Calder P. Sinclair
Second Annual Homecoming On November 7, 2015, Oak Hill Academy hosted its second annual Homecoming Event. This event brought together our current students and faculty and staff with Oak Hill alumni and former students. Highlights of the day, in addition to the basketball game, were a colorful and fun Homecoming Parade across campus and tailgating with food and drinks provided by Oak Hillâ€™s food service and several alumni and friends. A great time was had by all!
“Meet the Team” Event The annual “Meet the Team” fundraising event will be held at 7:00 p.m. on Saturday, January 30, 2016, 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 First Love Christian Academy. Your first ticket may be purchased for a $100 donation and each additional ticket purchased for your family or group will be $50. Participants will receive a reserved seat at the game, an autographed Oak Hill basketball media guide, an Oak Hill Academy t-shirt, and the opportunity to meet the team and coaches at a reception following the game! During the 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 – 276-579-2619 or firstname.lastname@example.org. This is a great gift idea for any basketball fan!!!
OHA Homecoming T-Shirts!!! We still have a few Homecoming T-shirts for sale if you didn’t get a chance to get one! Limited numbers are available in sizes Small-XXL. The cost is $15 plus $3 shipping and handling. Contact Tim Henry at email@example.com or 276-579-2619
DORM CAMPAIGN UPDATE 186,140
TOTAL NEEDED: $1.218 MILLION TOTAL SECURED: $1,031,860 LEFT TO RAISE: $186,140
SECURED BUILDING #2 SECURED
RESIDENT MANAGER’S APARTMENT 1 SECURED, 1 AVAILABLE
REC ROOM/STUDY LOUNGE 2
INDIVIDUAL ROOMS 6 SECURED, 8 AVAILABLE
Oak Hill Academy 2635 Oak Hill Road Mouth of Wilson, VA 24363 ADDRESS SERVICE REQUESTED
First Class Mail U.S. Postage PAI D Permit #2 Mouth of Wilson, VA