Ways to Give
GIFTS OF CASH
If you itemize, you can lower your income taxes simply by writing us a check. Gifts of cash are fully deductible-up to a maximum of 50% of your adjusted gross income. The deduction must be taken in the year in which your gift is made. Cash gifts can be made as a one-time contribution, monthly or quarterly, or over several years as payments toward a pledge.
A matching gift occurs when participating companies match (sometimes up to double or triple) the amount of dollars given to Sacred Heart by their employees and spouses, or retirees. The company matches the gift only after the donor has sent his or her gift to Sacred Heart along with completing the company’s matching gift form. These forms can be obtained from the personnel offices of most companies. Certain companies will also match capital campaign and endowment gifts. Check with your HR Department to find out what kind of gifts they match.
Many employers in this area participate in the United Way. If you participate with this program, please designate Sacred Heart to receive this valuable support. Go to the United Way information page to learn more.
Sacred Heart will gratefully accept gifts of supplies, books or equipment. Special tax deductions are available for firms or individuals contributing gifts-in-kind to educational institutions.
TRIBUTE AND MEMORIAL GIFTS
These types of gifts provide the donor with a unique way to remember or honor a loved one, or a special event. A letter advising the designated individual of the gift will be sent by the Office of Institutional Advancement.
GIFTS OF APPRECIATED STOCK
If you own appreciated stock, there are tax advantages to contributing appreciated stock rather than cash. A gift of appreciated stock offers two tax saving advantages. First you avoid paying any capital gains tax on the increase in value of the stock. Second, you receive an income tax deduction for the full fair market value of the stock at the time of the gift. To qualify for these tax advantages you have to have owned the stock for generally more than one year. Gifts of appreciated stock are fully deductible – up to a maximum of 30% of your adjusted gross income. Please contact Kathy Gallagher, 610-527-3915 X. 216 or Kathleen.firstname.lastname@example.org regarding your stock transfer. Stock is transferred without a donor’s name. Country Day School of the Sacred Heart’s account is held at RBC Wealth Management and is managed by Thomas R. Byrnes. His phone number is 484-530-2850. The legal name of the account is Country Day School of the Sacred Heart. The tax deduction is based on the average price of the stock on the date of its transfer to Sacred Heart’s account.
PENNSYLVANIA EITC and/or OSTC PROGRAM
Do you own or work for a company that does business in Pennsylvania or as an individual with an LLC and pays any of the following PA state taxes?
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax or Retaliatory Fees under section 212 of the Insurance Company Law of 1921
To find out, ask your company’s CEO, President, COO, CFO, financial department or accountant. This program funds Scholarship Programs like Sacred Heart’s approved EITC & OSTC scholarship programs.
Sacred Heart’s Scholarship Program helps to ensure that any accepted student who wants a Sacred Heart education can afford one. During the 2016 – 2017 school year, over 28% of our students received scholarship, or tuition assistance. Two important sources of scholarship funds are business contributions through the Pennsylvania Educational Improvement Tax Credit (EITC) and the Opportunity Scholarship Tax Credit (OSTC) programs.
When an eligible business provides a qualifying contribution to the Sacred Heart Scholarship Fund through EITC or OSTC programs, that business may receive tax credits of 75% for a one-year commitment or 90% if a business agrees to provide the same contribution for two consecutive years.
Important dates for 2016 - 2017
May 15 – Business applicants who have fulfilled their 2-year commitment and wish to reapply for 2016 – 2017 to renew their 2-year commitment can complete an application and submit beginning on the date. NOTE: Submit your application prior to June 30. July 1 new businesses can apply.
May 15 – Businesses who are in the middle of their 2-year commitment need to complete an application. renew their 2-year commitment can complete an application and submit beginning on the date. NOTE: Submit your application prior to June 30. July 1 new businesses can apply.
July 1 – All new businesses seeking to participate may apply.
For more information, visit newpa.com.
If you have any questions about these methods, please contact:
Director of Institutional Advancement
610-527-3915 X. 216 email@example.com
or consult your financial advisor.