The tradition of extraordinarily generous support from alumni, parents, grandparents, and friends is one of a number of great traditions associated with Allen. Beginning in the 1880's when residents of Madisonville worked with the Allen brothers to establish a school for their children, this tradition of giving continues to provide the sustaining funds that account for up to 20 percent of Allen's operating budget.
Allen's Annual Support Recognition Societies:
Century Club ($100 - $249)
Century Club Blue ($250 - $499)
Century Club Gold ($500 - $999)
Century Club Founders Society ($1,000 - $4,999)
Century Club Founders Society (Head of School's Circle) ($5,000 - $9,999)
Century Club Founders Society (President's Circle) ($10,000 and above)
Methods of Giving to Allen
There are many ways to make a contribution to Allen. A number of giving methods are outlined below:
Outright Gifts
Cash, real estate, and personal property are all used to make contributions to Allen on an outright basis. Gifts of appreciated securities (both publicly traded and private stock) offer significant tax advantages to the donor and are very simple to arrange. Credit is given and a tax deduction is allowable for the value of the mean of the high and low prices of the stock on the day of transfer of the securities to Allen, provided the stock has been held more than 12 months.
In-Kind Gifts
Tangible items that the school would otherwise have to purchase but that are instead given to Allen as donations. Examples include artwork, consulting services, hardware supplies, books, sporting equipment, and furniture.
Planned Gifts
Donors can help secure the long-term financial health of the school through gifts that come to the school in the future or over a period of years. The Charitable Remainder Trust, Gift Annuity, and the Pooled Income Fund are all examples of life income gifts or "gifts that give back." With each vehicle, the donor, and/or others the donor names as income beneficiaries, receive income for life or a specified term of years in return for the gift to Allen. There are many kinds of planned gifts, all of which offer significant tax benefits to the donor, among them:
Bequests - Assets transferred through a donor's estate. Any asset may be given in this way, though we most commonly receive cash gifts set out in a donor's will. Other bequests include the proceeds of life insurance policies and retirement plans.
Life Income Gifts - Charitable Remainder Trusts and Allen's Pooled Income Fund are two of the ways that donors make gifts that will benefit the school in the future while providing tax benefits and income for the donor immediately and over time.
Gifts of a Future Interest in Real Estate - Some donors make gifts of personal residences or second homes, retaining, the right to use them for their lifetime.
Charitable Lead Trust - With this gift a donor removes specified assets from his/her estate, receives immediate tax savings and provides the school income from those assets for a period of years. At the end of the gift period, the assets may be returned to the donor or, tax free, to a third party. Parents and grandparents find the charitable lead trust an excellent way to provide for a future generation while accomplishing good work today and decreasing their likely estate taxes.
Matching Gifts
Many gifts to Allen are doubled, or even tripled because corporations and foundations match gifts to education made by their employees, retirees and directors. If you or your spouse is affiliated with an organization that will match gifts to private schools, please forward the matching gift form along with your gift to Allen. If making your gift online, send the form along separately by US Mail. Please check with your personnel office to obtain a matching gift form. When you write, please include your name, address, and how you would like Allen to credit your gift. For more information about matching gifts at Allen, please contact the Development Office at (979) 776-0731.
Other Giving Information
Allen Fund Gifts - Gifts that support the current year's budget. The Allen Fund provides support for every aspect of Allen's operation: faculty and staff salaries, scholarships, library acquisitions, technology, athletics, fine arts, and more. Every gift from alumni, parents, grandparents, and friends helps to fund the extraordinary education offered at Allen each year.
Participation - A measure of how many donors in a specific group have made gifts. Large gifts and small are equally valuable in calculating participation rates. Corporations, foundations, and others view high participation rates as votes of confidence from those who know the school best.
Capital Gifts - Gifts that are not spent, but instead become a part of the school's assets. Capital gifts are used for such purposes as strengthening the endowment, for building or significant renovations, or to create a permanent fund that will be invested to produce income for necessary expenditures.
Endowment - A permanent fund that is invested to produce income to meet the day-to-day needs of the school or to address special needs as they arise.
Restricted/Unrestricted Gifts - Most donors make unrestricted gifts, allowing the Board and administration the flexibility to use their gifts to meet the school's needs as determined by the leadership. Some donors want the gifts they give to Allen to be used only for a specified purpose such as faculty salaries, scholarships, or technology.
Transferring Securities to Allen
Alumni, parents, grandparents, and friends are encouraged to give appreciated stock to Allen. These gifts may be utilized to make campaign gifts and pledge payments, to fund a capital or endowment gift, and/or to make contributions to the Allen Fund.
There are two possible tax benefits in using stock to support Allen:
- Donors of stock are usually allowed a deduction equal to the fair market value of the stock on the date of transfer; and
- Donors of stock that has appreciated in value avoid the capital gains tax liability in transferring the stock.
For instructions or stock transfer procedures, please contact the Development Office at (979) 776-0731.
