Why Give?
Making a difference is what Rivermont is all about. Each year children come to grow, to learn, and to experience an education that is designed to make a difference in their lives. In order to provide the best in education, Rivermont must expand and enhance the environment in which that education takes place. The work to create an exceptional educational environment is made possible through the generosity of our donors.
At Rivermont, tuition alone does not cover the cost of the education provided. In addition, tuition does not take into account the school’s long-term needs, nor does it address capital improvements. Gifts from alumni, parents, and grandparents, as well as the parents and grandparents of alumni and special friends help to fill the gap between tuition and the actual cost of a Rivermont education.
As an independent, 501(c)(3), not-for-profit organization, we depend on the partnership of everyone in our community to help provide the vital components that allow us to effectively deliver our mission to our students – excellent academic, athletic, and artistic programs, dedicated and intellectually curious teachers, appropriate facilities, and a diverse and interesting peer group.
Our goal each year is not only to raise the funds that make this vision possible, but also to encourage every family to be part of the team, at whatever level is personally appropriate.
Your partnership makes it possible!
Charitable IRA Rollover Provision EXTENDED
The legislation that allows individuals to gift directly from their IRA to not-for-profit institutions has been extended, but time is running out!
You may contribute funds this way if:
- You are 70 1/2 or older at the time of the gift.
- Your IRA gifts total $100,000 or less for the year
- You transfer funds directly from your IRA
- You transfer the gifts outright to one or more qualified public charities. (This excludes gifts made to charitable trusts, donor advised funds, gift annuities and supporting organizations.)
Your benefits:
- The gift generates neither taxable income nor a tax deduction on your federal income tax return, so you receive the benefit even if you don’t itemize on your tax returns.
- The distributions to us may be in addition to or fulfill any charitable giving pledges you have already planned.
- You can witness the good that comes of your generosity
The Next Step:
Be sure to contact tax professionals and your IRA administrator if you are considering a gift under this law. But don’t wait too long---this opportunity expires December 31, 2009. Feel free to contact Director of Development, Drew Boster, at 563-359-1366 ext 306 or boster@rvmt.org with any questions.
The Rivermont Collegiate Endowment Campaign
Help Us to Lay The Foundation for The Next 125 Years
Rivermont Collegiate has launched an ambitious endowment campaign to raise $6 million over the next three years. The money would mark a significant step for the school, enabling us to:
- Offer more financial assistance to a broader range of deserving students
- Reduce excessive dependence on Annual Fund and create a more predictable income stream
- Initiate a retirement savings plan for the School’s faculty as a significant step in attracting and retaining a distinctive talented workforce
- Upgrade our computer system
- Increase Middle and Upper School enrollment through improved athletic/fitness offerings and facility utilization
The public phase of the campaign was launched in conjunction with the School’s 125th anniversary and we are well on our way to our goal, but we have far to go and you can help us.
If you are doubtful that your $25 contribution is worth the trouble of sending to us, doubt no more! Every contribution, no matter how small, is important in this campaign, because when we ask corporations and philanthropic organizations for their support, they always want to know what percentage of our alumni and former students give to the School. Please contact Drew Boster, Director of Development, at 563.359.1366 ext. 306 or boster@rvmt.org to make your gift today!
Below are the latest figures on our Endowment Campaign:
- Pledges and Gifts received to date = $2,506,000!
Annual Fund
“The doors we open and close each day decide the lives we live.” Flora Whitemore
As a small school, Rivermont depends on the generous support to the Annual Fund by all families to provide the margin of excellence for which we are known. The support of our alumni, alumni parents, grandparents, former parents and community friends is an investment in the continued success and excellence of Rivermont Collegiate. We strive for 100% participation from our parents, trustees, and faculty and staff.
Each year annual giving touches every part of the school: faculty salaries and professional development, financial aid, classroom supplies and facilities enhancements. The generosity of our parents touches each student in real ways every day.
- 2009-2010 Annual Fund Brochure
Ways of Giving
- Cash or Check: Gifts of cash are the most common form of support. Checks should be made payable to Rivermont Collegiate and sent directly to:
Laying the Foundation For the Next 125 Years
Business Office
1821 Sunset Drive
Bettendorf, IA,52722
- Credit Card: Annual fund gifts by Visa and MasterCard are accepted. Call (563) 359-1366 x315 to make a credit card gift by phone. Our secure online giving page will be available soon.
- Pledge: Instead of making an immediate gift, you can pledge a gift to the annual fund and make your gift at a later date. A pledge to the annual fund is a promise to give a gift of a specific amount by June 30. Pledges can be made by e-mail or phone. Our secure online giving page will be available soon.
- Stock/Securities: Frequently, the most economical way to give – when one calculates the added tax savings – is to make a gift of appreciated securities that you have held for more than one year. For detailed instructions, please call (563) 359-1366 x306, or e-mail the business office at boster@rvmt.org
- Matching Gift: Many corporations have matching gift programs for their employees and retirees who support nonprofit organizations. Check with your human resource department and ask for a matching gift form. Simply compete the employee’s section, enclose it with your gift, and we will do the rest.
- Gifts in Kind: Rivermont welcomes items of tangible personal property that can be used in one of the school’s programs. Donors can receive a charitable deduction for the item’s market value. Please contact the business office at 563-359-1366 x315.
- Statement of Intent Form
Planned Gifts
Planned giving is the process — some would say the art — of making a generous charitable donation that satisfies both the donor and the recipient. Like all art, philanthropic giving requires a good design to achieve the desired result.
Because tax laws encourage charitable giving by providing substantial deductions, the way you design your gift will help determine its benefits to you and to Rivermont.
Planned gifts can be made in three ways: outright gifts, gifts which provide a life income, and gifts through a will or bequest. Described below are some of the common options for those gifts, with a brief description of possible tax advantages. Contact Drew Boster, Director of Development, at boster@rvmt.org, who can give you a suggestion tailored to your situation, and of course, also talk to your own legal advisor.
- Outright Gift: An outright gift of cash is the simplest form of giving and the method chosen by most people who donate to Rivermont. A gift of cash is not subject to gift or estate taxes, and is deductible for income tax purposes to the extent of 50% of your adjusted gross income. Amounts exceeding this limit can be carried forward for tax purposes for five years.
- Other Assets: Other assets can be donated as well, including securities, real estate, closely held stock, life insurance policies, and tangible personal property such as books, artwork and stamp collections. These gifts provide a charitable tax deduction equal to the asset’s fair market value of up to 30% of adjusted gross income with a five-year carry forward.
- Appreciated Assets: Gifts of appreciated assets — such as common stocks, bonds, or real estate — provide you with an income tax deduction of the fair market value of the gift while avoiding capital gains taxes and gift/estate taxes. You may donate real estate and maintain life use of the property.
- Stock: Shares of stock in a closely held corporation can be contributed and subsequently redeemed in cash by the corporation, generating substantial tax benefits.
- Life Insurance: By naming Rivermont owner and beneficiary of a new or paid life insurance policy, you receive a tax deduction for up to the face value of the policy.
- Bequests: You may feel you can make a larger giftto Rivermont through your will than during your lifetime. Your bequest may be in the form of a specific amount of cash or property, or a percentage of the estate. (Your IRA or other retirement plan makes a particularly tax-advantaged charitable bequest).In either case, the gift is deductible for estate tax purposes.
- Life Income Gifts: If you wish to make a gift to Rivermont but require the income your assets earn, you may make a gift that increases your income, saves on income taxes, and avoids capital gains and gift/estate taxes. Some examples of life income gifts include:
- Charitable Gift Annuity. The charitable gift annuity is among the simplest and most popular methods of making a charitable gift. In exchange for cash or marketable securities, Rivermont will contractually guarantee to pay a specific amount per year for life to a donor and/or other beneficiary. The payments may begin immediately or be deferred as directed by the donor.
- Charitable Remainder Trust. You make an irrevocable gift to a trust, which pays you, you and/or your spouse, or any other beneficiary, an income for life. Upon your death, or the death of the income beneficiary, the trust’s assets go to the school. You receive an outright tax deduction in the year of the gift, increase your income, and avoid capital gains and gift/estate taxes.
Summary
A donor's prime motive for giving to Rivermont is to further the work of educating young people. Having decided to contribute, however, you will want to plan your gift for maximum tax benefits. The effect of the charitable deduction on income taxes, capital gains taxes, and gift/estate taxes not only reduces the out-of-pocket cost of your gift but, in many cases, allows you to give more than you originally thought possible.
For more information about planned giving, e-mail Drew Boster, Director of Development at boster@rvmt.org