Gifts of Cash to Annual Fund
A gift of cash to our Annual Fund is an easy way to support Lawrence Academy. Monthly gifts can also be made through use of a credit card or direct deposit from your bank. Unlike tuition payments, gifts to the Annual fund are tax deductible in the current tax year. Examples of ways Annual Fund money is used includes, but is not limited to, technology, professional development, physical plant upgrades to include roofs, septic, electrical, heat/air units which are ongoing expenses. Please make checks payable to Lawrence Academy and remit to the school.
- Unrestricted Gifts of Cash – Gifts to the school that are unrestricted are most helpful, as these gifts can be used to address the needs identified by the school.
- Restricted Gifts of Cash – Restricted gifts are designated for specific programs or for specific purchases. These gifts normally meet a need of an academic department, athletics, student life, or facilities.
- Gifts-in-Kind / Gifts of Service – Businesses, parents, friends of Lawrence Academy can donate services / items free of charge. These gifts are greatly appreciated as gifts in kind offset expenses for the school. GIK can include professional services, equipment, teaching materials/supplies, computers, etc.
Because independent schools are not funded through state and federal government agencies, yearly organized fundraisers are conducted to bridge the gap between tuition paid and the actual cost of education. At Lawrence Academy, we hold yearly fundraisers which include Charleston Wrap, Fall Festival, Golf Tournament, and additional events as needed. We thank you, in advance, for your participate in, and support of, these critical fundraisers.
Many companies offer matching gift programs to encourage employees to make charitable donations. This is a great way to maximize the impact of your gift. Check with your employer prior to making a gift to determine their matching process.
- Bequests by Will / Legacy Gifts – The most common planned gift is a provision through a Will. These gifts can include giving a specific dollar amount, property, or a percentage of an estate. They can be restricted or unrestricted gifts. These types of gifts are deductible for estate tax purposes and can be beneficial in terms of federal estate tax.
- Life Insurance – Life insurance policies are a convenient way to donate to Lawrence Academy. You must designate Lawrence Academy as beneficiary of all or part of the policy. This provides a way to make a significant gift with little expenditure.
- Gift of Real Estate & Securities – This is a donation of real property. With gifts of property, you receive an immediate income tax deduction for the charitable value of the gift.
- Endowment – Financial endowments are typically structured so the principal amount given remains intact, while investment income is available for immediate use. Endowed gifts can be set up multiple ways and can have a huge impact for our school over a longer period of time.
- Memorial / Named Gifts – These gifts can be made in memory of or in honor of a family member, friend or loved one. Many times, these types of gifts are specified as an Endowed Fund, perpetuating the life of the donation.
- IRA (Individual Retirement Accounts) – Naming Lawrence Academy as beneficiary of an IRA can have major tax advantages for the donor. One of the key benefits of the direct charitable contribution from your IRA is that the distribution counts towards your Required Minimum Distribution (RMD).
We recommend that you discuss planned gift options with your personal attorney.