Gifts of stock offers a tax benefit in two ways. First, the donor avoids paying capital gains tax on the increased value of the stock. Second, the donor can take a tax deduction for the full market value of the stock on the date of the gift. For example, if a donor gives one share of stock to Oakcrest that was purchased for $1000 in 1990 and is valued at $1750 today, the donor will avoid paying any tax on the $750 gain from the original investment. Further, he is allowed to claim a tax-deductible gift of $1750.
You may make a gift of stock by asking your stock broker to transfer the number of shares you would like to donate to Oakcrest. To learn more about how you can make a gift of stock, please email our Advancement Office.
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Required Minimum Distribution (RMD)
Another great way to benefit from the current tax code is by designating Oakcrest as beneficiary of your IRA’s Required Minimum Distribution (RMD). If you have an IRA and turned the age of 70 ½ before December 31, 2019 or you turned 72 after that date you are once again required to take a minimum distribution from your account. Depending on your circumstances, that distribution could increase your taxable income. If you are not in need of the income from your RMD you can designate a charity to receive up to $100,000 of your distribution tax free. It’s important that you designate your charity of choice before the distribution is made so feel free to contact the Oakcrest Advancement Office for more information about this great way to support our mission.
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Planned Giving
Remembering Oakcrest in your will or living trust is a way to make a lasting contribution to the Oakcrest community. Charitable gifts made to Oakcrest in your will or during your lifetime will support future generations of Oakcrest girls and provide potential income and/or estate tax benefits for you and your estate. Planned gifts to Oakcrest School will educate young women who thrive from an education that develops the whole person–one that encompasses academic excellence and character development, as well as cultural, athletic and community service opportunities.
Simply contact your attorney and ask him/her to add the following language to your will or living trust: “I give, devise and bequeath to Oakcrest School (Tax ID: 52-1182755) 1619 Crowell Rd., Vienna, VA (insert specific dollar amount, percentage, or residue of my estate) for its general use and purpose.”
As Oakcrest is a tax-exempt 501(c)(3) not-for-profit organization, a planned gift to the school may be completely free of estate tax. To learn more how you can make a gift through planned giving, please email our Advancement Office.
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Matching Gifts
Make your gift to Oakcrest go even further! Many corporations and foundations match gifts from their employees on a one-to-one or two-to-one basis. To make a matching gift, please send your organization’s Matching Gifts Form to:
Advancement Office Oakcrest School 1619 Crowell Road Vienna, VA 22182
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Memorial Gifts & Funds
Memorial Gifts may be made to honor a member of the Oakcrest community or to remember deceased loved ones. This meaningful tribute will help honor their memory and their values for years to come. If you would like to make a memorial gift, simply make note of your wishes and send it in with the donation. To learn more how you can make a memorial gift, please email our Advancement Office.
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Tax Refunds
Each year millions of people receive a refund after completing their tax returns. If you happen to be one of them, you may be planning to use those funds for home improvements or a much-deserved weekend away. However, many individuals decide to reinvest their refund in support of their favorite charities, like Oakcrest. If you are expecting a refund this year, we would be grateful if you might consider including Oakcrest in your charitable planning.
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Special Projects
On occasion, Oakcrest School leadership identifies certain needs that will contribute to the promotion of the mission of our institution. These special projects support the intellectual, physical, social and spiritual formation of the students we serve. Examples of past special projects include the purchase of instruments for our music program, beautification of our chapel and athletic field improvements. If you would like to learn about and support future special projects at Oakcrest School please email our Advancement Office.
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Charitable Gift Annuities
Charitable Gift Annuities are designed for people of retirement age or older. The older you are, the higher the return on your investment and the bigger the impact you can have on Oakcrest’s mission. The income it pays is based on your age and remains fixed for life and typically, a portion of your income will be tax-free for a number of years. Click here to learn more.