There are so many ways to support Brownell Talbot! We are grateful for gifts of time, talent, and treasure. The Office of Advancement is ready to help you navigate how your support and generosity can best impact the school.
The BT Fund
The BT Fund is the name of Brownell Talbot’s annual giving program (formerly the Annual Sustaining Campaign and Parent Pride). This fund is the most important fundraising effort at Brownell Talbot. Making a gift to The BT Fund means supporting students, programs, and faculty and staff enrichment. Brownell Talbot is an independent school and as such, the education of every student is made possible by tuition and philanthropy.
The BT Fund is designed to cover the difference in tuition and the actual cost to educate a student at Brownell Talbot. The gap at BT is $3,500 per student. Thirty percent of our students are provided with tuition assistance. One hundred percent of Brownell Talbot faculty, staff, and Board of Trustees make a gift to The BT Fund.
Capital & Endowment Giving
Capital campaigns are time-limited efforts proposed by the Board of Trustees for a specific need, such as construction of campus facilities or building the endowment. Growing the endowment is currently the school’s top capital fundraising priority. Gifts to the endowment can be discussed with the Office of Advancement at 402.556.3772.
Planned giving encompasses a variety of philanthropic strategies that help you plan your support for Brownell Talbot. Choosing the right method and timing of your gift can increase tax savings and reduce the net costs of the contribution.
The following is a brief description outlining some of the prevalent charitable contribution methods available to donors. Please consult with your tax advisor or call the Office of Advancement with specific questions.
The CARES Act: Incentives for Giving Now
The CARES Act – the Coronavirus Aid, Relief, and Economic Security Act – includes incentives for enhanced charitable giving. The Association of Fundraising Professionals offers this overview:
- Temporary Universal Charitable Deduction: Taxpayers who do not itemize their deductions can take a one-time deduction of up to $300 for gifts made to charitable organizations. The provision is intended only for the year 2020; however, in the text of the bill, it states taxable years “beginning in 2020 …” and does not include a sunset date, thus it conceivably could extend beyond 2020. The deduction is only for gifts of cash made in calendar year 2020 and does not cover other types of gifts or contributions made to donor-advised funds or private foundations.
- Suspends the 60 percent adjusted gross income limitation for individuals’ charitable contributions for the year 2020. In a typical year, individuals can only take a charitable deduction of up to 60 percent of their adjusted gross income, no matter how much they give. For 2020, there is no limit, making cash contributions fully deductible.
- Increases the cap on how much corporations may deduct for charitable gifts from 10 percent of taxable income to 25 percent. In addition, the limitation on deductions for food donations by corporations increases from 15 percent to 25 percent in 2020.
All prospective donors are encouraged to consult with their tax advisor to ensure they are taking full advantage of the 2020 tax relief incentives.