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Why Give?

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

Planned Giving

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

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