We invite you to consider the following ways to make a difference in the lives of our young people. Your contributions are critical to support both the current budgetary needs as well as the long-term financial stability of The Calverton School itself.
The information given below is not meant to provide a complete list of the possibilities, nor to include all of the technical information needed to make a decision. It should, however, provide preliminary information so that you can begin to make an informed decision. (Please note: with the complexity of current tax laws, we encourage you to consult your tax advisor about your gift. The Calverton School does not intend for this content to be a substitute for tax or financial advice.)
Ways to Give
How you can make a tax deductible gift to support the school
(Either click on each link below or download our "Ways to Give" pdf file.)
Calverton's receipts and shopping rewards programs allow families and friends of Calverton to make donations to the school with everyday purchases. The programs direct grocers and other merchants to send rebates to Calverton after a purchase is made at their store. It is required with most programs that you re-designate Calverton each year even if you registered in the past. You may register online or at the following stores:
Food Lion - Calverton's designated Calverton School
Giant - Calverton's designated #00319
McKay's - Calverton's designated #4004
Safeway - Calverton's designated #6481566
For your convenience, you may provide us with your "bonus card" numbers and we will be delighted to register for you at the above listed grocery stores.
Your continued support of these programs is very much appreciated and needed. Last year we received over $6,000 as a result of your designations and shopping rewards. THANK YOU!
BOXTOPS for Education - Save box tops from your General Mills purchases such as cereal box tops, Pop Secret popcorn, cake mixes and other eligible products. Each boxtop earns 10 cents, which can help purchase much needed equipment for the Lower School.
Office Depot - Shop at Office Depot, designate Calverton (ID #70046808) and our school will receive 5% of your qualifying purchases toward free supplies. You may register online at www.OfficeDepot.com or at your local Office Depot store.
OneCause - You can help support us with everyday online purchases by shopping with OneCause's online merchants who will contribute to Calverton with every purchase.
Target REDcard's Take Charge of Education - When you shop at any Target Store or Target.com use your Target Visa, Target Card or Target Business Card and one percent of your purchases will be donated to Calverton. One-half percent of non-Target purchases made with your Target Visa will be donated. Use Calverton's ID #19832 and register at www.Target.com or call 800-316-6142.
For more information about these programs, please contact Brandy Duley at 410-535-0216 ext. 111 or bduley@CalvertonSchool.org.
Gifts of cash are the most common and often the simplest to make. Checks should be made out to "The Calverton School" with a note in the memo section specifying your intent to support a particular project or purpose. Otherwise, your gift will be used wherever it is needed the most when received. A gift of cash is deductible up to 50% of a donor's adjusted gross income. Amounts exceeding 50% in one year may be carried over and deducted for up to five subsequent years.
Gifts of appreciated stocks, bonds, or mutual funds can provide special tax advantages. These include a charitable deduction for the full fair market value of the gift and avoidance of capital gains taxes on the built up gain of the value of the securities. This type of gift is subject to a 30% limitation similar to the 50% limitation outlined above.
Gifts of unencumbered homes, farms, businesses and other real property can receive the same tax treatment as gifts of appreciated securities. If the property has appreciated over time, its sale may result in a substantial amount of capital gains taxes being due. If debt-free property is transferred to The Calverton School, the donor receives a deduction for the appraised value. The Calverton School encourages real estate gifts that are not subject to liens or restrictions that may affect its market value. The full market value of the appreciated property is usually deductible up to 30% of the donor's adjusted gross income. Any amount in excess of the 30% can be carried over for up to five years. The Calverton School reserves the right to determine whether or not to accept any gifts of real estate.
Memorial or Tribute
Any gift may be designated in memory or honor of a friend or loved one. The family of the deceased, or person honored, will be notified of such gifts.
Another way to support The Calverton School is through gifts of tangible personal property. When such a gift is related to the "charitable purpose" of the school, the donor may be eligible for a deduction of the full fair market value.
Corporate or Matching
You may be able to multiply the value of your gift by participating in a matching gift program provided through an employer or board membership. Your employer's personnel office can provide you information and forms to take advantage of this unique leveraging opportunity. Gifts from retirees and spouses may also qualify for a match. There is a simple rule for donors who are not sure whether their employer matches charitable gifts - "when in doubt . . . ask!"
Although outright gifts provide crucial resources for current programs, deferred gifts build the foundation for the future. Giving through estate plans or life income gifts is particularly suitable for those who would like to support The Calverton School with a significant gift that may not be possible to make outright.
Bequests by Will or Living Trust
The most common form of deferred or planned gift to support The Calverton School is a charitable bequest.
Life Income Gifts
Numerous tax and financial benefits may be realized with a "life income gift," such as a charitable gift annuity or charitable remainder trust. The donor makes an irrevocable gift of cash, securities or property and receives income for him or herself (may include another beneficiary, such as a spouse) for either life or a specified term of (1 to 20) years. When the specified period ends, the remainder goes to support The Calverton School. For more information on Life Income Gifts, please call the Development Office.
Gifts of Life Insurance
You may own some form of life insurance. Often these policies were purchased to provide protection that is no longer needed. Children have grown, financial circumstances have changed; yet the policy is still in force and may have significant cash value. If The Calverton School is named both the sole owner and the beneficiary, the contributor is eligible to receive an immediate charitable deduction for the policy's fair market value or the net premiums paid, whichever is less. Additional premiums paid may also be tax deductible.
Retirement Plan Gifts
Designation of The Calverton School as primary or contingent (after a spouse) beneficiary of a private pension fund (e.g. IRA, SEP, 401(k) profit sharing plan) can result in the most "taxwise" testamentary gift possible. This is because retirement accounts are subject to taxes that other estate assets may avoid. Simply designate The Calverton School as beneficiary on your plan's "Beneficiary Designation" form.
Retained Life Estate
You may generate a current income tax deduction by giving a home or farm to The Calverton School, while retaining the right to occupy, rent or otherwise use the property during your lifetime. The property will also be removed from your taxable estate.
The Calverton School is a "qualified charitable organization" and meets the standards and requirements of Internal Revenue Code Section 501(c ) 3. Under this provision, all contributions are deductible for federal income tax purposes (subject to statutory limitations) and for federal estate and gift tax purposes.
Gifts of cash (or your election to deduct only the cost basis of an appreciated asset) may be deducted up to 50 percent of adjusted gross income (AGI) in a year. Gifts of appreciated real or personal property may be deducted up to 30 percent of AGI. Excess deductions may be carried over for up to five (5) additional years.