Checks should be made payable to Carrabassett Valley Academy. Many of our donors maximize their gift by taking advantage of a matching gift program offered by their employer. Please let us know if we can assist you with investigating a matching gift.
Gifts of life insurance policies, including whole life, variable and universal life policies which are paid-up and for which CVA is designated as the sole beneficiary are welcome and encouraged. Gifts of paid-up life insurance policies naming multiple beneficiaries will be referred to the CVA Development Committee for their consideration before acceptance.
Gifts of real estate and other tangible personal items may be given or willed to CVA. For most gifts of personal property, the tax deduction depends on the appraised value of the gift. Donors are generally responsible for obtaining an appraisal for gifts valued at more than $5,000. If you would like to explore a gift of real or personal property, please contact Melissa Fogg to discuss the appropriateness of the proposed gift and method of transfer.
Many donors find making a gift by using securities an efficient and advantageous way to give because a gift of appreciated securities offers two opportunities for tax savings – you can avoid paying a capital gains tax by selling it and also can claim an income tax deduction for the full fair market value of the gift up to an amount equal to 30 percent of your adjusted gross income. Any unused deduction may be carried forward for up to five years.
To transfer stocks/securities to the CVA account:
Transfer to: DTC #0226 (Fidelity's routing number) for the benefit of Carrabassett Valley Academy, account #X20-169285
Please choose CVA as your recipient on AmazonSmile. Amazon donates 0.5% of the price of your eligible AmazonSmile purchases to the charitable organization of your choice.
Future Gift Commitments: The King Cummings Society
Named after one of CVA’s most influential and visionary founders, The King Cummings Society recognizes the loyal and committed alumni, parents, grandparents, benefactors, friends, and associates of Carrabassett Valley Academy who have made an important commitment to its future through generous gift planning by bequest or a charitable trust.
A bequest is a gift by will or living trust that provides an opportunity to make a meaningful gift to Carrabassett Valley Academy while retaining control and possession of the asset for the duration of your life. Bequests may be unrestricted or restricted; they typically include cash, securities, real estate, or personal belongings. A bequest may be for a specific amount, may be such that it is dependent on your estate reaching a certain amount, or may be for a percentage of your estate.
Donors may also name CVA as a designated beneficiary to receive all or some of the proceeds from a retirement account, life insurance policy, or other asset that pays cash benefits to a designated beneficiary. For maximum tax benefit, CVA must be named as the beneficiary rather than your estate. Supporters of CVA who are considering designating the Academy as a beneficiary are encouraged to contact CVA’s Development Team in advance of making such a designation.
Too often, people make a provision for organizations like Carrabassett Valley Academy in their estate plans but we do not know until it is too late for us to thank them in person or get clarity on what they would most like their eventual gift to accomplish. If you have already included CVA in your plans, please tell us by completing the simple King Cummings Society Membership Form. We are happy to keep this information confidential/anonymous if you so desire.
We understand that providing for your family and loved ones is your primary concern. Once that is complete, we hope that you will consider including CVA in your estate and philanthropic plans. We would love the opportunity to speak informally with you to help explore what gift planning options might best fit your situation and meet your needs.
Although gifts made by bequests will not help us with our current building projects, they will most certainly provide a critically important funding stream for future projects, to ensure that CVA remains the vibrant and wonderful place that it is today. Bequests are often used to support endowment gifts. What better way to leave a sustainable legacy to bolster the next generation of world-class winter athletes?
For more information about how you can visit, get more involved with or support CVA, please contact Melissa Fogg, Director of Annual Giving and Alumni Affairs: firstname.lastname@example.org or 207-237-4505