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MONEY MATTERS
THE PATRIOT FUNDS
MEMORIALS AND
TRIBUTES
TAX TREATMENT
MATCHING GIFTS
DONATIONS
REGULATORY COMPLIANCE
Until now, it has
been difficult for someone in the Yorktown Community to give
back to our community by contributing money.
That's one of the
reasons we formed the non-profit Alumni & Friends of Yorktown
High School, Inc., sought, and have obtained IRS recognition as
a 501(c)3 charity. Now your gifts are tax-deductible.
We hope to provide
structure to channel that good-will. Thus we are
establishing two merit-based scholarship programs to add to the
existing Patriot Funds. These two new scholarships are
tentatively called:
-
The
Yorktown Alumni Annual Merit Scholarship Fund - money
given to this fund will be aggregated until enough is
available to give a $4,000 merit-based scholarship to a
deserving Yorktown graduate to continue their education. All
the principal and earnings will be committed as soon as
possible, so once disbursed, there will be no funds remaining.
This fund will be for those who want to see their
contributions have an impact on a deserving student as quickly
as possible.
-
The
Yorktown Alumni Endowed Merit Scholarship Fund - money
given to this fund will be invested until enough interest and
dividends are available to give a $4,000 merit-based
scholarship to a deserving Yorktown graduate to continue their
education. Unlike the Annual Scholarship Fund - above - the
principal of the fund will remain invested, which means your
gift will continue to work in perpetuity, although it will
take longer to have an impact than if it were disbursed in the
year contributed.
After we've
completed an inventory of all available local scholarships we'll
try to identify and seek funds for under-represented vocations
and facets of the community.
Other Endowment
Funds
o Yorktown Alumni
Endowed Crew Equipment Fund
An endowed fund
created to finance the purchase of equipment for the Yorktown
Crew.
Capital Improvement Fund
The following fund
was created, and is maintained, by the Yorktown PTA. Rather than
duplicate their effort and create our own fund for the same
purposes, we have agreed with the PTA to publicize and
solicit contributions to this fund which they manage:
-
The Stephen J. Kurcis
Fund - An endowed fund created to honor Mr. Kurcis on
his retirement from his position as Principal of Yorktown High
School from 1978 to 1987. The principal amounting to over
$10,000 is owned and managed by the Yorktown PTA. Those
wishing to contribute funds to this fund, or seeking it's
benefits should contact the Yorktown PTA. If you are
interested in contributing to the PTA Kurcis Fund send a check
payable to the Yorktown PTA Kurcis Fund. The money would then
be put into the Kurcis Savings Account until the Certificate
of Deposit matures. At that time the money will be added to
the Certificate of Deposit.
What other types of
funds are needed? Here's a working definition of
alternative uses of charitable funds for your review.
MEMORIALS AND
TRIBUTES
Memorials
A memorial is a personal or group remembrance honoring the life
of a classmate, friend, relative, mentor, coach, teacher or
staff member.
Tributes
A tribute is a personal or group tribute to a classmate, friend,
relative, mentor, coach, teacher or staff member honoring a
special event, or as an expression of appreciation.
Acknowledgements
When you make a Memorial or Tribute the person or family you
designate is sent a card acknowledging your gift in their name. The amount of your gift
is shown only on the receipt mailed back to you, and totaled on
our website.
TAX TREATMENT
Because the IRS approved our application for exemption under
Section 501c3 of the Internal Revenue Code (IRC), donors may
deduct their contributions as provided for in Section 170 of the
IRC. Bequests,
legacies, devises, transfers, or gifts to us or for our use are
deductible for Federal estate and gift tax purposes if they meet
the applicable provisions of Sections 2055, 2106, and 2522 of
the Code.
This
statement applies only to contributions to the Alumni & Friends
of Yorktown High School, Inc. Please contact the Yorktown PTA
and Yorktown High School for the tax treatment of contributions
to them.
MATCHING
GIFTS
Over 7,500
businesses have matching programs by which they match charitable
contributions of their employees.
We recently
joined an organization which acts as a clearing house for
corporate-matching programs, and just updated our description of
this exciting opportunity.
Click on
Scholarships
on your left for more information.
DONATIONS
We just
started working on soliciting gifts. If you'd like to
support one of the above activities, or suggest one that's
missing, please click & complete on our Online Gift
form. Your gifts are
tax-deductible, and may be matched by your employer.
As you can
see, we're duplicating what the private schools have had for
years, and for the same good causes. Please chip in and help us
continue the Yorktown tradition of Excellence. We've provide the
mechanism, now its up to you to join in and give back to the
Yorktown community.
REGULATORY COMPLIANCE
The
treatment of internet and email solicitations varies from
state-to-state.
It costs
about $4,000 to register in all 50 U.S. states, and we currently
have neither the money nor man power to do so.
We are
currently registered to solicit funds in Virginia and Maryland.
A financial statement is available on written request from the
Virginia State Office of Consumer Affairs.
If you live
in a state other than Virginia or Maryland, and want to
contribute to one or more of the Patriot Funds, please
get in touch with our
Treasurer and we will
register in your state.
Additional information is
available on this site at:
About Us>Financials>Funds.
Questions?
Please
contact
admin@yorktownalums.org for details.
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