Ways of Giving
Ways of Giving
Giving is an opportunity for parents, grandparents, past parents, alumni, faculty, and friends of Beaufort Academy to ensure that future generations of students receive a high-quality BA education. Beaufort Academy is a 501(c) (3) charitable organization; all gifts are tax-deductible to the full extent of the law, and all donors will receive a letter of recognition once donation is processed.
Every gift, whatever its size, is important to BA and greatly appreciated. Please consider contributing by one of the many ways below. The following giving opportunities provide direct and immediate support to both our Annual Fund and our Capital Campaign.
Thank you for your support!
Gifts can be made online through the Talon Fund. Donors have the choice to make a one time gift, or recurring. All gifts charged via credit card will incur a 3% processing/credit card fee. Please consider donating an additional 3% so full amount will be applied to designated fund. Make your gift online here.
Money by check is the easiest and most common way to make a gift. Cash gifts may be used annually as charitable deductions on your federal income tax return to offset up to 50 percent of your adjusted gross income. Donating by check is the easiest and most common way to make a gift. To mail your check, please send check payable to Beaufort Academy:
Attn: Laurie Cooler
240 Sams Point Road
Beaufort, SC 29907
A Qualified Charitable Distribution is a direct transfer of funds from your IRA custodian, made payable to a qualified charity. QCD's are generally tax free, tax-deductible, and will count towards an individual's required minimum distribution. If you are 70 1/2 years old or older, and would like to give a gift to Beaufort Academy via a Qualified Charitable Distribution, you must consult a tax advisor in order to ensure legal/tax requirements have been satisfied. You should also consult with your CPA and Financial Advisor to decide if a QCD is right for you.
Many employers offer matching gift programs that will double or triple your contribution. Please contact your benefits office to request a gift form.
Gifts of appreciated securities such as stocks, mutual fund shares and bonds are fully tax-deductible charitable contributions. Such gifts are deductible up to 30 percent of your adjusted annual gross income on your federal tax return with the same five-year carry-over deduction provision as cash gifts. Remember that you must give the security itself, rather than selling it first and giving the cash, in order to avoid paying tax on the capital gain.
The same tax advantages that apply to stocks and bonds also apply to real estate. You may give acreage, a farm, a lot, a house, a commercial building, or any other kind of real estate and receive a charitable deduction. Property must be cleared of any environmental issues and the Board of Trustees must vote to accept it.
You may give any other asset of value; for example, an automobile, a painting, a coin collection, a piece of jewelry or equipment, etc., and receive a charitable deduction. The donor must have the proposed gift appraised by a qualified professional, subject to approval by the Business and Finance committee.
Donor Advised Funds
You may direct other entities to make Donor Advised donations to the campaign.
Corporations are permitted by law to give away to qualified charitable organizations up to 10 percent of their pre-tax profits in any given fiscal year. This provision offers a double tax savings, in that neither the corporation nor the individual is taxed on the gift.
If you have any questions about supporting BA, please contact:
(843) 524-3393 ext. 244