RESTRICTED GIFTS

Restricted gifts can be used only for the specific purpose that the donor has indicated; such as scholarship, a particular academic, athletic or arts program, or gifts to honor teachers.

Sullins Scholarship Fund is a general fund to aid families in the cost of tuition.  Support given to students is based on financial need and scholastic merit.

There are several named scholarships and all are based on financial need and merit. Applicants must meet all the criteria to be considered and are chosen by the Scholarship Committee.  

 

Angela Kelly May Scholarship was established in 2005 by Kevin and Kim Nicewonder in memory of Kim’s sister.  This scholarship is awarded to a Middle School young woman who exemplifies a love of reading and literature as well as strong academic achievement and citizenship.

 

Amy Rainero Scholarship was established in 2003 by Mr. and Mrs. Leno Rainero, Jr. in memory of their daughter Amy who was an alum of Sullins Academy. This scholarship is awarded to a Middle School young woman with strong academic achievement as well as immense service to others.

 

Genevieve Ferreira Scholarship was established in 1996 by friends and family in memory of Genevieve Elizabeth Ferreira who was an alum of Sullins Academy.  This award is given to a student to attend an academic or arts enrichment program during the summer after their 8th grade year.

There are several funds designated to honor our faculty and staff. Making contributions to any of these funds is a wonderful substitute for year-end or holiday gifts.

 

Teacher Luncheon Fund provides lunches for faculty and staff during teacher workdays, holidays, and for monthly lunches.

   

Professional Development Fund allows our teachers to attend conferences and training to further their expertise and enhance their skill set.

Lonia Matney Fund supports continuing education for faculty and staff


General Restricted Gifts are contributions earmarked for specific departments, programs, or events not previously designated.

ENDOWMENT GIFTS

 

Endowment gifts are major gifts to an investment fund.  Earnings are used to supplement the operating budget of the school.  The earnings of the Sullins Academy Endowment Fund, established in 2007, are restricted to faculty compensation. The growth of the fund is essential for attracting and retaining the best teachers in the region.  Only the interest and dividends of the fund are available for expenditure.  The principal remains intact.

A substantial endowment can help secure the future of Sullins Academy. A gift to the endowment fund is an investment in faculty compensation.  New endowment earning might also be used for enriched academic programs, scholarships, and technological improvements.

PLANNED GIVING

Planned gifts may take many forms and should be discussed in advance with the donor’s financial advisor, attorney, or stockbroker.  The Director of Development will work with these professionals and the donor in facilitating the contribution to Sullins.  A written agreement is often part of a planned gift and the donor may specify the use of the gift.

 

Bequests reduce inheritance taxes by designating in your will specific gifts of cash, property, or a percentage of the remainder in your estate.

 

Gifts of Appreciated Securities may offset capital gains taxes and provide you with a tax deduction for the fair market value of the gift on the date of transfer.

 

Life Income Gifts may provide annual income for your retirement years and benefit Sullins Academy at the time of your death, depending upon the plan you choose.  These gifts entitle you to an immediate deduction and can also reduce estate taxes.

Life Insurance policies in which Sullins Academy is named as a beneficiary provide the donor with a charitable deduction at the time the gift is given and a future significant contribution to the school.

 

Gifts of Real Estate may benefit you in the reduction of capital gains taxes and a substantial tax deduction.

Sullins is a 501(c)3, non-profit organization under the code of the Internal Revenue Service. Voluntary or philanthropic gifts to the school may be counted as charitable tax deductions. Sullins receives no financial support from local, state, or federal agencies. We are not affiliated with any church or religious organization.

Located in Bristol VA, Sullins Academy develops students in grades PS-8 into

confident, lifelong learners who have the academic, character, and leadership skills to succeed in high school and beyond.

SULLINS ACADEMY

22218 Sullins Academy Bristol, VA 24202

phone 276.669.4101   fax 276.669.4294

email info@sullinsacademy.org

Sullins Academy does not discriminate on the basis of race, color, religion, national or ethnic origin, or any other legally protected status in the administration of its educational, admission, financial aid or employment policies, or any other programs administered by the School.

© 2019 by Sullins Academy. 

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