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Gifts of Cash/Credit Card
Cash is acceptable in any form, including by check, money order, credit card, and on-line.
Gifts of Securities or Appreciated Property
A gift of appreciated property – such as stocks, mutual funds, or real estate – may be accepted under appropriate circumstances. You may be allowed to receive an income tax deduction for the fair market value of the property and avoid paying tax on the appreciation of the property or security. Read more here.
IRA Charitable Rollover
Those who are 70 ½ or older must take a minimum distribution from their IRA each year, and it counts as taxable income. However, the Charitable IRA Rollover allows up to $100,000 from an IRA to be tax free if it is paid directly to a nonprofit organization such as Academy Prep Tampa. Click here for more information.
Bequests and Beneficiary Designations
Donors are encouraged to make bequests to Academy Prep under their wills and to name Academy Prep as the beneficiary in trusts, life insurance policies, commercial annuities and retirement plans. Such bequests and designations will be recorded as gifts when the gift is irrevocable and the value of the gift can be appropriately determined based on current accounting policies. Academy Prep encourages donors to disclose their designations to the development office in writing.
Many employers match employee gifts to higher education. Companies may match dollar-for-dollar or more. Simply talk with our development office to see if your company participates in a matching gift program. The process is easy and usually requires filing out a short application. It is a simple way to increase your giving power to Academy Prep.
At Academy Prep, all of our students attend the school on full scholarships provided by the local community. A full scholarship at Academy Prep costs $17,000 per year and the investment can be paid throughout the year.
An endowment consists of funds that are kept intact and invested. A portion of the earning from the endowment are applied to undesignated and designated purposes that may be determined at the outset by the donor(s); the proportion of earnings applied in this manner is set in accordance with the endowment spending policies determined annually by the Academy Prep Foundation. To view a copy of our case statement, click here.
These gifts have definite restrictions for their purposes or the conditions for which they may be disbursed.
Unrestricted gifts are those gifts upon which the donor has not placed definite restrictions as to the method or purpose of expenditure and allows the Academy Prep Center of Tampa to use the gifts in the most appropriate manner.
Tax Exempt Status of Gifts
In addition to philanthropic motivation for gifts to Academy Prep, donors are permitted to take charitable contribution deductions (deductions allowed with respect to a charitable contribution) on Federal tax returns to the extent permitted by Treasury Department regulations. Academy Prep Center of Tampa is recognized as a non-profit corporation under the Internal Revenue Services’ 501c3 guidelines and as such, gifts are tax deductible as allowed by law. For the transfer of funds to Academy Prep to qualify as a gift, the funds must be for the exclusive use of, and under the control of, the Academy Prep Foundation and/or the Academy Prep Center of Tampa.
For more information about Academy Prep Center of Tampa, please contact Maggie McCleland, Director of Development, at 813-248-5600 ext. 1138 or by email at firstname.lastname@example.org
Academy Prep Foundation, Inc. registration number CH7916 meets all requirements for the Florida Statutes Solicitation of Contributions Act, Chapter 496, and Permit #029003. A copy of the official registration and financial information may be obtained from the Division of Consumer Services by calling toll-free 1-800-435-7352 within the state; registration does not imply endorsement, approval, or recommendation by the state.