Ways to Give

Outright Gifts of Cash

Gifts of cash are the most common and often the simplest to make.  Checks should be made payable to "Blacksburg High School Boosters" with a note in the memo section specifying your intent to support the BHS fundraising campaign.

Gifts of Securities

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.

                The simplest and most efficient way to make a gift of any security is to instruct your broker or banker to transfer the stock to the Blacksburg High School Boosters.  You or your broker may contact the Booster Club treasurer Rick Hayter at 540 951-3046 for transfer instructions and brokerage account information.  In addition, you should notify Amy Woods at 540 382-7741 when donating securities for this program.

                Gifts of securities can also be completed by mail.  For example, stock certificates may be mailed, unsigned, to the Booster Club.  In a separate envelope, you can mail a signed stock power form, which may be available from a brokerage, or local bank.  For publicly traded securities, the deduction value of your gift is determined by taking the average, or mean, of the high and low trading prices of that stock on the date of the gift (or the nearest trading date(s) if the stock is lightly traded).  Note- Subchapter S corporation stock and Limited Liability Company interests may be donated under some circumstances

Memorial or Tribute Gifts

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.

Corporate Matching Gifts

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.  Companies may match charitable contributions at a 1:1, 2:1, or sometimes even a 3:1 ratio. 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 to match.  Donors should ask their employer if charitable gifts will be matched. 

Gifts in Kind

Another way to support the Blacksburg High School Fundraising Campaign is through gifts of tangible personal property.  When a gift relates to the "charitable purpose" of the high school, which is usually very broad for educational institutions, the donor may be eligible for a deduction of the full fair market value.  Such gifts might include building materials or furnishings. 

 

Deductibility

The BHS Fundraising Campaign 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.

CONTACT YOUR TAX CONSULTANT FOR GUIDANCE.