For sixty years Ware Academy has strived to prepare young people for the challenges of education beyond Ware and to be responsible citizens and leaders. Since the school’s founding, we have relied on parents, alumni, friends and corporations to ensure the highest quality of program for our students and to help offset the costs associated with an independent school education.
The Ware Academy Fund is the heart of our annual fundraising program. It is a vital source of revenue that ensures the excellence of a Ware Academy education. Each gift directly impacts the quality of the Ware experience. The unrestricted dollars allow the school to respond swiftly to areas of unanticipated need or to provide greatest opportunity. People are Ware Academy’s greatest asset and its greatest expense. Salaries, benefits and professional development for faculty and staff make up approximately 72% of Ware’s budget. Excellence is expensive, and the ability to continue to provide programs, experiences and curriculum for which sets Ware apart costs more than tuition alone can cover.
Ways to Give
Include your check with the Ware Academy Fund remittance envelope and return it to the school.
Many companies offer matching gift programs to encourage employees to make charitable contributions. Matching gifts are another vehicle for donors to maximize the impact of their gift. Corporate matching programs will vary; prior to making a gift, one should check with his/her employer.
All independent schools organize ongoing fundraising programs. Among the various fundraising programs and events at Ware Academy are the Annual Auction, the Annual Golf Tournament and periodic campaigns for capital improvements and continuing education.
Restricted gifts are designated for special programs or specific purchases which may not be included in the operating budget. Restricted gifts meet a specific need of an academic department, athletics, student life, and/or financial aid.
Parents, friends, and businesses whose services are offered free of charge to Ware Academy are greatly appreciated. Gifts-in-kind offset expenses and could include professional services, equipment, computers, and/or teaching materials.
Securities transferred to Ware Academy will gladly be accepted. It is our policy to liquidate all real estate and securities upon receipt and the value of this donation will be determined by fair market value at the time of transfer. For instructions regarding all transfers, please contact Jaik Henderson, Director of Development, at 804-693-3825 or email firstname.lastname@example.org.
Contributions may be made in memory or in honor of a family member, friend or loved one. Memorial gifts are often specified for the Endowment Fund, perpetuating the life of the donation.
The goal of this fund is to ensure a robust savings account in which the principal will grow from contributions and sound investments. The interest will provide a stable, long-term source of income to support faculty salaries, improvements and maintenance to the buildings and facilities, and financial aid to deserving students.
Bequests (By Will)
A charitable bequest, a simple provision in one’s will, is the most common planned gift. Bequests can be made in a variety of methods: giving a specific amount; giving a specific property; giving a percentage of one’s total estate; giving the residue of one’s estate; or giving a contingent bequest. Charitable bequests to Ware Academy may either be restricted (designated for a specific purpose) or unrestricted. Ware Academy utilizes unrestricted funds for areas of greatest need. Charitable bequests are deductible for estate tax purposes. These gifts may significantly reduce or eliminate federal estate tax.
Charitable Remainder Trust
The charitable remainder trust is a very popular gift plan. The assets within the trust provide lifetime income to the donor or to another designated beneficiary. Through the remainder gift, a donor may contribute assets and retain for life the income from those assets for himself, a spouse, or both. A remainder gift allows the donor to take an income tax deduction for the charitable portion of the value of the gift. In addition, if the gift is in the form of appreciated securities or real estate, the donor does not pay capital gains tax on the appreciation.
Life insurance provides a convenient way to fund meaningful gifts. One may simply designate Ware Academy as the beneficiary of part or all of the donor’s insurance policy proceeds. A policy that is no longer needed for the family protection for which it was originally intended may be used to help one meet his/her philanthropic goals. By making Ware Academy the beneficiary of a life insurance policy, the donor receives an estate tax deduction.
Individual Retirement Accounts (IRAs)
Naming Ware Academy as the beneficiary on an Individual Retirement Account is a form of giving that is often overlooked. Some individuals may have several IRA accounts or other company-sponsored retirement programs which make contributing an IRA, or a percentage of one, an attractive option.
All gifts to Ware Academy are tax deductible in accordance with Internal Revenue Service 501(c)(3) rulings.
Frequently Asked Questions
A donation to the Ware Academy fund does the following things:
- Supports the needs of the Academic, Arts and Athletic Programs of the school.
- Supports student activities like field trips and out-of-class learning opportunities.
- Supports updates and upgrades with technology throughout the school (STEM and IT).
- Supports Faculty Professional Development.
- Helps the school balance its yearly budget.
Yes, unlike your tuition, contributions to the Ware Academy Fund are fully tax-deductible and allow each individual to give at a meaningful level to which he or she are able. Lastly, each donation is one’s physical representation of his or her love and support for Ware Academy.