16 Ways to Make It Happen!
You have many options in how you "Make it Happen!" at RPMS. Please contact our Director of Advancement, Kim Romain at 773.271.1700 x114 or email@example.com for more information about any of these options.
Gifts of time and talent
Gifts that benefit RPMS today
2. Cash - Cash is an easy way to make a current or future gift. RPMS welcomes your gifts of cash, but encourages you to look at other gift options that may have even greater tax benefits, such as the ideas listed below.
3. Matching Gifts - Many employers sponsor matching gift programs and match any tax deductible charitable contributions made by their employees. If your company has such a program, request a matching gift form from your Human Resource Department, and send it completed and signed with your gift. We will do the rest. The impact of your gift to our school may be doubled or possibly tripled! Some companies also match gifts made by retirees and/or spouses.
4. Publicly traded stocks and bonds - Publicly traded securities, such as stocks, bonds, or mutual funds, are a quick and easy way to make a gift to RPMS. When those securities have long-term appreciation, your gift has two tax benefits: a current charitable income tax deduction for the market value of the gift; and avoidance of capital gain on the appreciation.
5. Real estate - Real estate, such as residential property, vacation home, undeveloped land, or commercial buildings, may make an excellent gift, especially if the property is appreciated. As with other assets held longer than one year, you receive a charitable income tax for its appraised value and may avoid capital gains on the appreciation. Gifts of real estate require more pre-gift review than other gifts, which normally include a site visit, an environmental assessment, and a title report.
6. Tangible personal property - A gift of tangible personal property, such as collectibles, art, or jewelry, is a creative way to make a gift to RPMS and receive a charitable income tax deduction. Since gifts of tangible personal property have no readily established market value, you are required to have the property appraised and use a qualified appraiser when the value exceeds $5,000. You receive a charitable income tax deduction for the item's market value when the gift is used by RPMS in its charitable mission, or cost basis if the gift is sold.
7. Insurance policies - There are two ways to make a current gift of a life insurance policy. You can transfer ownership of a policy you own (and no longer need to protect your family) and receive a charitable income tax deduction for the value of the policy. Or, you may choose to make an annual tax-deductible contribution to RPMS to purchase a policy on your life. Either way, you can make a significant gift with a relatively small investment. Your insurance agent or accountant can help with the details.
8. Charitable lead trusts - A charitable lead trust is an irrevocable trust (or annuity) that pays an income stream to RPMS for a specified period of time and distributes the remaining trust assets to the creator or others such as heirs.
Gifts that benefit RPMS and pay you income
9. Charitable gift annuities - A charitable gift annuity provides you with a fixed annuity payment for life in exchange for your gift of cash or marketable securities to RPMS. You receive an immediate charitable income tax deduction for the gift portion of the annuity. In addition, a portion of the annual annuity payment will either be tax-free or long-term capital gain, depending on the type of property used to make the gift.
10. Charitable remainder trusts - A charitable remainder trust is an irrevocable trust that pays you or one or more individuals you select an income stream for life or a term of years. At the end of the trust term, the remaining assets are paid to RPMS.
Gifts that benefit RPMS in the future
11. Bequests - One of the simplest and most effective ways to make a gift to RPMS is to create a bequest under your will. A bequest allows you to maintain control and use of the assets during your lifetime. It is also flexible. The bequest can be structured as a specific dollar amount, a percentage of the estate assets (or a percentage of the assets remaining after payment of other bequests and expenses), a specific asset, or even a gift effective only if you have no other beneficiaries. Ask your estate planning professional to help design a gift that meets your personal and charitable goals.
12. Retirement plan beneficiary designations - Naming RPMS as the beneficiary of all or a portion of your retirement assets is one of the most tax-advantaged ways to make a charitable gift. Retirement assets are subject to two taxes at death: income tax and estate tax. Naming RPMS as beneficiary of all or a portion of the retirement plan or IRA avoids both taxes. Make sure you talk with your estate-planning professional before changing your beneficiary designation to ensure the best result.
13. Life insurance beneficiary designations - Another simple method of making a charitable gift is to name RPMS as beneficiary of a current life insurance policy. Although you do not receive a deduction when RPMS is named as beneficiary, the estate receives a charitable deduction for the insurance proceeds paid to charity.
Temporarily Restricted Gifts
14. Unrestricted and Restricted Gifts - Unrestricted gifts to RPMS have the most impact because they can be used immediately to address the school's most urgent needs and provide the Board of Directors the greatest flexibility in investing and planning for the future. Restricted gifts have explicit donor restrictions defining their use and expenditure. On occasion, school personnel identify an urgent program need or enhancement that falls outside the current operating budget. We typically raise funds for these requests at our Spring Event through a specifically outlined Fund-A-Need program. In addition, we regularly raise funds for the Educational Opportunity Fund which provides scholarship opportunities for economically disadvantaged students that would not otherwise be able to attend Rogers Park Montessori School.
15. Financial Aid and Educational Opportunity Funds - RPMS strives to make Montessori education available to all children. While maintaining our core values, we seek to expand our relationships with the wider community and increase diversity in the student body. In order to provide that opportunity, we have developed a Financial Aid Program and Educational Opportunity Fund. Donations to support our financial aid initiatives are tax-deductable.
16. Memorial/Tribute Gifts - We all have people and events of particular importance in our lives. If you would like to honor or remember a loved one, recognize a birthday, anniversary, holiday or other significant occasion, RPMS welcomes your generosity. To make a gift in memory or in honor of someone please contact Kim Romain at firstname.lastname@example.org.
*Please consult your accountant, attorney or financial planning professional to determine which giving method works best for you.