Opportunities to Give
Fayette Academy is vital to the continued growth and economic development of Somerville and Fayette County. In addition to enjoying an outstanding academic reputation, the school has remained on a sound financial basis. Simply put, Fayette Academy’s Board of Directors and Headmasters have done an excellent job of providing outstanding educational opportunities for our students on a very limited financial basis.
Fayette Academy continues to provide the children of our area with a quality education. We are committed to a strong academic curriculum at Fayette Academy. Our graduates excel on the college level in our local and out-of-state colleges and universities as well as in the business word.
However, in order for Fayette Academy to continue to provide the much-needed services for your grandchildren and future generations, we need your financial support. It is the vision of the Fayette Academy Board of Directors to retain the lowest possible tuition for our parents as well as a safe atmosphere for our students. We also want to maintain an academically competitive school with the best teachers and educational services that we can provide. We can only do this with your financial support.
Many of you are alumni and/or parents of former and current students. We know that you are aware of the standards of Fayette Academy. We want to maintain these standards and to continue to provide academic excellence. We need you to look very thoughtfully and prayerfully at how you can help us financially to continue making
Fayette Academy is a school that you want your grandchildren and future generations to attend – your school of choice.
Private school’s financial support comes only in the form of tuition and gifts. Fayette Academy was reestablished as a 501(c)3 effective July 2000. This means that parents and friends may now deduct contributions given to Fayette Academy. With the 501(c)3 status, the future of Fayette Academy is limited only by your participation and support of this great institution.
ANNUAL FUND DRIVE
The annual fund drive is one of the most important avenues of giving for a school. Annual gifts received from friends, parents, grandparents, faculty, alumni and corporations are the lifeblood of any school and are vital to meeting current needs and enhancing student programs and faculty recruitment.
Donors can double their donations by taking advantage of their employers’ matching gifts program. Fayette Academy is grateful to these companies for their generosity. Check with your employer to see if your company has a matching gifts program.
GIFTS IN KIND
Gifts in kind are donations given to the school in forms other than monetary donations.
Your including Fayette Academy in your will is an effective way to make a gift, which may not be possible during one’s lifetime. A bequest is the simplest and most common form of a planned gift. In addition, gift and estate taxes are reduced or avoided.
APPRECIATED REAL ESTATE
If you have a piece of appreciated real estate you want to sell and are aware of the capital gains tax, donate the property to Fayette Academy to avoid capital gains tax. You receive the benefit of a major charitable deduction for the full-appraised value of the property. The school can sell the property and use the funds for necessary improvements or endowment.
LIFE INSURANCE POLICIES
A life insurance policy is a good way to make a gift to Fayette Academy at a future date. Premium payments are fully tax deductible.
In order to deduct the premium, the school must be designated as both owner and beneficiary of the policy.
The income generated by a donor’s gift provides the dollars to begin a donor-advised scholarship fund. By creating a donor-advised scholarship fund, the donors make a gift today and then recommend the scholarships to be awarded from that fund over time.
Endowment gifts are added to the school’s investment portfolio resulting in income to fund special programs. These gifts can be made in the form of a pledge to be fulfilled over a number of years or as a single annual gift. Endowment gifts allow Fayette Academy to keep the students we have, attract new students, retain and recruit excellent faculty, and keep tuition increases to a minimum.