Giving to Oak Hill Academy
Since our earliest days, the kindness of friends has helped keep the timeless mission of Oak Hill Academy alive. Tuition from our students helps to sustain us during any given school year, but gifts from our friends help ensure Oak Hill’s long-term availability for future generations of young people.
The school is organized as a 501(c)(3) charity under IRS rules, so your gift may qualify for tax benefits. All digital wallet and traditional methods may be used to offer gifts.
After meeting our annual needs, our goal is to grow our endowment so as to ensure our facilities are second to none, our benefits package attracts and retains an excellent, dedicated staff, and our academic and life-skill programming meet the needs of our students.
Ways to Give
Gifts of Cash
Cash gifts are among the most popular methods of supporting Oak Hill Academy. They are relatively simple, immediate, and can be directed where necessary. Cash gifts may also offer tax deduction benefits toward a percentage of the donor’s adjusted gross income. The Academy receives cash gifts through traditional means as well as through electronic transfers by most digital wallet platforms.
RMD’s from Tax-Deferred Retirement Accounts
Tax-deferred retirement accounts often require the account holder to begin taking required minimum distributions (RMD’s) from their account at a certain benchmark age. These distributions are subject to income tax, however a portion of the distribution may be offered in full to a charity such as Oak Hill Academy such that the entire portion is received, and the account holder avoids paying income tax on that portion.
Charitable Bequests offer donors control over their gifted asset until estate settlement is complete. Bequests require zero front cost, and can be adjusted or revoked at any time based on changing circumstances or donor wishes. Bequests can take many forms, including listing the Academy as a beneficiary to a life insurance policy or retirement plan or naming the Academy in a donor’s will, living trust, or other estate settlement plans.
Charitable Gift Annuities or Trusts
Gift annuities differ from bequests in that they are irrevocable, yet may offer the donor certain immediate advantages, including potential tax benefits and predictable income over time. There are several varieties of charitable trusts including charitable remainder or lead trusts, and pooled income annuities. Like annuities, trusts may offer the donor certain immediate tax advantages
Giving assets that have gained value over time (appreciated) such as stocks, bonds, mutual funds, or real property may offer the donor certain benefits such as avoidance of capital gains tax and charitable tax deduction at appreciated face value.
Endowed Scholarships/Memorial Gifts
The Academy offers several means by which friends or loved ones can be remembered. Memorial gifts can lead to creation of memorial remembrances such as bricks or engraved inscriptions on our Memorial Oak Plaque, which is displayed in the Academy Archives. Endowed scholarship funds are invested with the corpus of the Academy endowment, and investment income is used to help other students gain access to the Academy through need-based financial aid.
Ready to Give?
Gifts are essential to the ongoing success of Oak Hill Academy. We are proud of our legacy of providing an affordable boarding program to students from around the nation and world. Every gift to our Annual Fund reinforces the timeless OHA Mission and enhances the student experience on The Hill.
For more information on giving opportunities, or if you have any questions, please reach out to Todd Giszack, Associate Head of School for Advancement.