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Ways to Give
The Summit Country Day School offers a range of gift-planning options to donors. Feel free to construct your gift with the asset or assets most suited to your financial situation. Contributions may be made using any asset and transfer vehicle, such as:
- Cash gifts
- Stock or Securities
- Bequest
- Income interest gifts
- Tangible personal property
- Life insurance
- Benefits from IRAs and pension funds
- Remainder Gifts
For more information, please contact Pam Bruns, Director of Development at (513) 871-4700, ext. 242 or .
Cash Gifts
Most gifts are made with outright cash contributions. The school appreciates cash gifts or contributions via VISA or MasterCard. Your cash gift is tax-deductible in the year of the gift.
Securities
Appreciated securities are an excellent asset to use in making a charitable gift. You can maximize tax savings by receiving an income tax charitable deduction for the fair market value of the appreciated securities, and you may avoid capital gains tax.
Bequest
You may remember The Summit Country Day School in your estate plan. Bequests may be for a specific amount, a percentage of your estate, or even a residual portion. With a gift through a will or a living trust, you retain full use of your gift property during your life. It is also possible to make a gift at death while reserving lifetime income for your spouse or another family member.
Income Interest Gifts
Through an income interest gift, you may contribute the income from an asset while retaining ownership of that asset. The Summit may receive income for a designated period of years, after which the asset and any subsequent income return to you, your spouse, children, or other designated person. This form of gift entitles you to both an immediate charitable deduction as well as future tax advantages.
Tangible Personal Property
If you give a tangible asset, such as a work of art, which has appreciated in value, and if the asset is used by The Summit in its educational program, you receive a charitable deduction equal to the asset’s full fair market value. However, if the school does not use the asset, your charitable deduction is limited to your cost basis.
Life Insurance
You may designate The Summit as the beneficiary of a personal life insurance policy, or transfer ownership of an existing policy to the school. You may also buy and contribute to a new policy. Such a gift will entitle you to an income tax deduction, and future premium payments will be tax-deductible.
Benefits from IRAs and Pension Funds
Your estate can save both income taxes and estate taxes if you make The Summit a beneficiary of all or part of your individual retirement account or other retirement savings plan. You can also arrange for lifetime income to be paid to a family member after your death, with the school’s benefit coming later. You will eliminate estate taxes on the designated amount.
Remainder Gifts
Through a remainder gift, you may contribute appreciated but low-yield assets, such as securities or real estate, to The Summit. You may direct a new investment strategy for a greater yield and retain for life the income from those assets for yourself, your spouse, or both. A remainder gift permits you to take an income tax deduction for the charitable portion of the value of the gift. Furthermore, if the gift is in the form of appreciated securities or real estate, you may avoid capital gains tax on the appreciation.
Your Bequest Can Memorialize Your Annual Contributions*
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If Your Annual |
$ 100 |
You Can Perpetuate |
$ 2,000 |
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$ 200 |
$ 4,000 |
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$ 300 |
$ 6,000 |
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$ 500 |
$ 10,000 |
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$ 1,000 |
$ 20,000 |
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$ 2,000 |
$ 40,000 |
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$ 5,000 |
$100,000 |
* A 5% annual return on your bequest, as represented in these tables, would ensure that you always continue your thoughtful annual contributions.
Donating Gifts of Stock to The Summit Country Day School
Donors wishing to make gifts of appreciated stock incur a “triple win” by:
- Securing a charitable income tax deduction based on the full fair market value of the donated asset
- Avoiding capital gains tax exposure on the appreciated value of the stock
- Making a meaningful gift to The Summit that costs less than cash.
If you are interested in making such a gift, The Summit recommends that you direct your broker to electronically transfer stock directly to The Summit. (The date the stock is received into Summit’s account constitutes the date of gift.) The school has a relationship with Gradison-McDonald Investments of Cincinnati, Ohio for these purposes.
Important: Be sure to have your broker contact either Diane Fehrenbach at Gradison-McDonald, or Pam Bruns at The Summit prior to initiating any stock transfer, and to reference your gift to the school.
If you wish to mail a stock certificate, then it should be sent unendorsed to our business manager, David Paulin. A signed stock power, executed in blank with a bank guaranty of signature, should also be mailed to David at The Summit under separate cover. The date of the postmark constitutes the date of the gift.
Please consult your tax or other financial advisor if you have any questions.
Contact Information
The Summit Country Day School
2161 Grandin Road
Cincinnati, OH 45208-3300
Pam Bruns – Development Director
Phone: 513-871-4700, ext. 242
Fax: 513-533-5430
David Paulin - Director of Business Operations
Phone: 513-871-4700, ext. 204
Fax: 513-871-6558
UBS Financial Services
580 Walnut Street
Cincinnati, OH 45202-3198
Diane Fehrenbach – Summit Gift Coordinator
Phone: 513-579-5980
Fax: 513-579-5849