The Arrow Giving back Year End 2011 —
2011 Year End Giving Ideas
A Holiday Miracle on Our Street
In the Fall of Meredith’s freshman year of high school, we were dealing with a young lady with lots of potential, but an equal amount of frustration and lack of performance. We wondered what we could do to help our precious fifteen year old reach her potential and enhance her self-confidence. It was a tough decision to consider an alternative education process, especially one that would take her away from home for several years.
Before we share our experiences, let us say that Meredith would be the first to admit that Oak Hill Academy (OHA) changed her life in many remarkable ways. She left home for OHA in January of her freshman year a shy, somewhat introverted teenager, and graduated as a confident young woman with a tenacious appetite for college and higher learning. Today you would not dream of suggesting to her that she cannot accomplish her goals! She has to work harder than most, but the study skills, work ethic, and perseverance she acquired at OHA are evident in her demeanor every day. The Oak Hill team, from Dr. & Mrs. Groves to the whole faculty, staff, and dining services, work every day to make sure these young people are nurtured, loved, encouraged, and motivated to reach their potential. Included in these efforts are:
• Superb guidance counseling • A loving, caring family-like environment • Development of self-discipline, good study habits and high expectations
• Tutoring and extra assistance when needed, and
During her years at OHA, Meredith earned her Gold Award in Girl Scouts, went from scholastic disaster to the top of her class, including becoming a member of the National Honor Society, managing the girl’s basketball team, and simply maturing in ways we feel she would not have. In May 2012, Meredith will graduate from Virginia Tech with a degree in Human Development and she has been accepted into nursing school. She is an Emergency Medical Technician (EMT) and has volunteered thousands of hours to her community. In summary, the tears that we shed as freshman parents moving Meredith into her dorm at OHA, have turned into tears of joy as we have watched her successes grow by leaps and bounds. We are very fortunate and grateful to have found Oak Hill Academy because it has truly been a turning point in her life.
• A variety of hard work, opportunities, and fun. 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 Mrs. Lisa Dockery Rev. John Duvall Mrs. Sidney Rose Fant
Marshall & Peggy Frank 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. Donald Hasler – ‘66 Mrs. Sally Kimble – P’00 Dr. Wayne Landsman – P’06 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
2011 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. 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 2011. Example: If you make a charitable gift of $10,000 in 2011, 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 2011 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 2011, and support us at the same time, than by simply writing a check! Make sure your envelope is postmarked by December 31; if it is, your gift will qualify as a 2011 gift even if it is not received by us until the first week of 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. Gifts of Stock Year-end 2011 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. 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 2011 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 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. 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 2011; and (3) if you contribute stock, avoid any capital gains tax on the appreciation. 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. Special Rules For Certain IRA Owners An IRA owner who is age 70½ or over can directly transfer tax-free up to $100,000 to an eligible charity. This includes transfers from a traditional or Roth IRA (distributions from employersponsored retirement plans are not eligible). Such transfers are counted in determining whether the IRA’s minimum distribution requirement has been met. Please note that these special rules are currently scheduled to expire at the end of 2011. Please call us or your financial advisor for details. For Further Information No one publication can tell you everything you need to know about 2011 year-end gift opportunities and which method would be the most advantageous for your particular situation. Be sure to check with your accountant, tax attorney, 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 yearend — and throughout the year! Copyright MMXI by Calder P. Sinclair
Donor Appreciation Dinner
On Friday, November 11, Dr. and Mrs. Michael Groves hosted the sixth annual donor appreciation dinner. The evening began in Fletcher Chapel with a social time and musical numbers performed by the Academy Choir under the direction of Mrs. Jeanette Black. Guests then made their way to the Ussery Archives Room for the dinner hour. A delicious meal was prepared by the staff of Meriwether-Godsey. The evening concluded with everyone enjoying a home gold team game in Turner Gymnasium. 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.
Students Enjoy the Harvest Festival
“Meet the Team” Event The seventh annual “Meet the Team” fundraising event will be held at 7:00 p.m. on Saturday, January 28, 2012, 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 Imani Christian from Pennsylvania.
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 thenry@oakhill.net. This is a great gift idea for any basketball fan!!!
SHOP FOR OHA MERCHANDISE ON-LINE! 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 Music Stands (5 needed - 5 have been purchased) $40 each Digital SLR Cameras for Yearbook Staff (5 needed) $200 each LCD Monitors (25 needed) $200 each DVD Recorder/VCR Combo for Library $300 Photoshop $400 Televisions (5 needed) $400 each Anatomical Models (8 needed) $200-$600 each Digital Camera for Publications Class $700 Digital Microscope (purchased) $1,700 AED (Automated External Defibrillator) $2,000 Rosetta Stone Sponsorship for ESL Class $2,800 Equestrian Center Barn Remodel $40,000 Halsey House Remodel and Upgrades $50,000
Other Giving Opportunities (partial list) Alumni Campus Store Tile Memorial Oak Tree Named Display Case for Ussery Archives Room Named Scholarship Fund Faculty Professional Development Fund Fund to Increase Faculty Salaries
$500 $1,000 $5,000 $10,000 $50,000 $100,000
Gifts in Kind* Boat for Fishing Club Musical Instruments Backhoe or backhoe attachment for tractor *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 thenry@oak-hill.net.
Oak Hill Academy 2635 Oak Hill Road Mouth of Wilson, VA 24363 Address Service Requested
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