Additionally,
there are other opportunities throughout the year for
parents and Colby supporters to provide
financial support to the school. One special opportunity
is our Circle of Friends Auction held each May. Money
raised from this and other kinds of activities is used
to support our long-term strategic plan which includes
improving our science building, planning for future
growth, and expanding our computer technology lab.
There are many ways to make a charitable contribution
to The Colby School and each type of gift has potential
tax benefits to the donor who itemizes deductions.
The following descriptions are intended to provide information
about the options available. This information is
not intended to provide specific financial or tax advice.
Individuals should seek such advice from their
personal financial advisors.
Gifts of Cash
The majority of gifts to Colby are cash contributions, for which donors may
receive tax benefits. Cash gifts may be put to immediate use by the school
for programs, endowment and projects. Gifts may be made by cash, check, charge
card, or through monthly payment plans utilizing Electronic Fund Transfers.
In the future we will offer the ability to make donations through our secure
web site.
Gifts of Securities
Many donors may realize substantial tax advantages by transferring gifts of
appreciated stock to the school. Gifts of securities are valued at the median
price on the date of transfer to Colby. Capital gains on the amount of appreciation
maybe avoided and, depending on the donor's personal tax situation, he or she
may receive a tax deduction for the full market value of the stock.
For details on how to make a gift of securities to
Colby, please contact Dr. Amy Davies, Head of School.
Matching Gifts
More than one thousand companies match donations made by their employees to
independent non-profit schools. The matching gift process is initiated by the
donor by contacting his or her company's human resources department or corporate
foundation for program information and required forms. Matching gifts allow
donors to double and sometimes triple the value of their gift to Colby.
Other Property
A gift of tangible property to Colby may result in a tax deduction for the
donor, with the amount of the deduction determined by whether or not the gift
meets the "related use" test. Gifts-in-kind are items such as works
of art, equipment, furniture, antiques, real estate, and similar non-monetary
contributions.
Deferred Gifts and Bequests
Many individuals discover that they can make a substantial gift to Colby through
a bequest provision, a life income gift, or a trust. There are tax advantages
associated with each type of gift and individuals should seek the advice of
their own financial advisory before creating or revising an estate plan.
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