Chesapeake Academy relies heavily on the time, talents and financial contributions of its past and present community members. This support allows us to offer the standard of excellence for which we are known and helps make the dreams we have for our students and their teachers become a reality. For more information on how you can help, please contact Julie Duvall at 804.438.5575 or firstname.lastname@example.org.
The Development Office is a community of people, both staff and volunteers, dedicated to the advancement of the Academy by communicating its philosophy and mission and shared values of character education. As we seek philanthropic support, we encourage and appreciate all levels of participation whether it is in the form of time, treasure, or the sharing of one’s talents.
Time and Talent
Volunteerism at Chesapeake Academy takes many forms through membership on CAPPA committees, Board of Trustee committees, volunteering in the Development Office, helping at various events throughout the year, or doing your volunteer work from home. We appreciate every minute you can share with us!
To help with CAPPA or events, please contact Catherine Emry, Development Associate, at 804.438.5575 or email@example.com.
NEW! ON-LINE DONATIONS! Donate to Chesapeake Academy’s Bell Tower Annual Giving Fund through the convenience of on-line giving. Simple to use, reliable and a quick, easy way for you to get involved. Make your donation today!
The Bell Tower Annual Giving Fund
As tuition only covers 70% of the full cost of educating each student, the Bell Tower Fund helps meet our ongoing academic and co-curricular programming costs by supplementing our operating budget. Your support for annual giving helps us meet our mission of providing the best opportunities for each and every child by your contribution increases our ability to succeed and to show the strong commitment our constituency has for the Academy. Each individual gift, no matter the size, has a positive impact on the school in many ways. Your gift combined with other gifts truly makes a difference! Our fiscal year closes on June 30.
Ways to Give
Cash gifts are an easy way to give. Cash gifts of any size can have an immediate impact on the Academy. The limit on fully deductible cash gifts is a maximum of 50% of your adjusted gross income. Anything more can usually be carried forward and deducted over a maximum of five subsequent years.
A gift of stocks or bonds that are (or will be) readily available are a win-win opportunity for you and Chesapeake Academy under current tax laws. The deduction for the outright gifts of appreciated long-term publically traded securities (held more than one year) is equal to the fair market value on the date you relinquish control of the assets to the Academy. None of the appreciation is taxable for capital gains purposes.
Gifts of stock of a private corporation receive slightly different treatment. You may avoid capital gains on appreciation of closely held stock while attaining a tax deduction on the stock’s fair market value. You may obtain an immediate tax deduction of up to 30% of adjusted gross income. If the gift amount exceeds 30% of adjusted gross income, the remainder of the deduction generally can be carried over for up to five years.
Please contact Julie Duvall by calling 804-438-5575 or emailing firstname.lastname@example.org to learn how to make a gift of securities.
Many companies will match the contributions that employees (sometimes even retired employees) make to nonprofit organizations such as Chesapeake Academy. Under a corporate matching gift program, gifts made by a company’s eligible employee or employee’s spouse are matched with company or corporate foundation funds—sometimes doubling or tripling the initial gift. To initiate a matching gift, ask your personnel office for the company’s matching gift form and send it along with your donation to the Academy. Please note that matching gifts do not increase your charitable deduction.
The Faye Society
To recognize invaluable contributions to the long-term growth of the Academy through bequests and other planned gifts, The Faye Society was established by the Board of Trustees in the Spring of 2001 in memory of Captain and Mrs. James Faye who named Chesapeake Academy as a beneficiary of their estate in 1987. Their foresight and generosity made a tremendous impact on the Academy’s fiscal stability and future, and for generations of families. Membership in the Faye Society recognizes patrons of Chesapeake Academy whose philanthropy extends beyond life. 66 members have made estate plans which we have already received through their bequest or include building the Academy’s endowment through charitable remainder trusts, transfer of owned life insurance, real estate intentions, and bequests through their Last Will and Testament.
Making provisions to include the permanent endowment, managed by the Chesapeake Academy Foundation, is an excellent way to receive tax credit now while investing in the future of children from the Northern Neck and Middle Peninsula.
A bequest is a gift made through a donor’s will and is the simplest and most common planned gift. The advantages of making a gift through a bequest are that the donor does not have to part with any property until after death. Gift and estate taxes are avoided. Distributions can be made either as a specific dollar amount or as a percentage of the estate.
Retained Income Gifts
An easily established trust can provide a current charitable deduction for you in addition to income to you and/or the Academy during your lifetime. This meaningful gift can be especially appealing by increasing the income you receive from low-yielding stocks. The income can be distributed to you, your spouse or other designee, after which the assets would be distributed to the Academy.
Real Estate with Retained Life Tenancy
You can give your house, summer house, or farm to the Academy while retaining the right for yourself (and a surviving spouse) to live there. You receive an immediate income tax deduction and avoid many of the cares and expenses of ownership.
Tangible Personal Property
You may give appreciated items such as art, coins, or other valuable items for the Academy to sell, the proceeds designated for the educational programs.
Life Insurance Gifts
The contribution of a life insurance policy can provide a significant gift in a manner that can be especially attractive to younger donors. Chesapeake Academy offers recognition for the amount of the annual premium. By designating Chesapeake Academy as both the owner and beneficiary of a life insurance policy, the premiums are tax-deductible to the donor.