Ways of Giving

The Bedford Area Educational Foundation offers a variety of ways to contribute.  By selecting the most appropriate gift option, you may maximize your tax deduction while you help support the highest quality public education for students in the Bedford area. Contributions are tax deductible under the provisions of Section S170(c) of the Internal Revenue Code. Please consult your financial advisor(s) regarding the best option for your financial situation.

Nearly 100% of your tax-deductible donation goes directly into the endowment fund (your gift remains in the fund to continue earning while the investment income is distributed for teacher requests) or the current program fund (to be distributed for approved teacher requests).

Click on the specific contribution option below to learn more about it.

Bedford County Public School Employee Payroll Deduction Program

Bedford County Public School Employees can easily donate to the Foundation through a payroll deduction program. Simply DOWNLOAD the attached document (click here), print, complete the information, sign and submit to Ryan Edwards or your finance department.

Cash Gifts

United Way Contributions

VA State Tax Return

Fundraisers

Memorial and Honor Gifts

Deduction Authorization via Bank Account or Credit Card

Gifts of Securities

Bequests

Charitable Gift Annuities

Matching Funds

Cash Gifts

Click here, print and complete the form, and mail with your check.

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Memorial and Honor Gifts

You may contribute to The Bedford Area Educational Foundation in memory of a loved one, friend, or colleague or to commemorate a special occasion.

The Foundation will acknowledge your gift by letter to the person(s) you designate and will also provide written acknowledgment to you.

Click here, print and complete the form, and mail with your check or credit card information.

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Deduction Authorization via Bank Account or Credit Card   

You may also choose to make a hassle-free one-time or ongoing donation with a direct debit from your checking or savings account or credit card.

Click here, print and complete the form, and mail with your bank account or credit card information.

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Securities  

It may be to your financial advantage to give marketable securities - stocks, bonds, or mutual funds - to The Bedford Area Educational Foundation.

Any securities you have owned for more than 12 months that have increased in value since you bought them may be subject to long-term capital gains tax when you sell them.  If you make a gift of these securities to The Bedford Area Educational Foundation, however, you can save twice – once when you receive a charitable deduction for the securities’ fair market value as of the day of transfer, and again when you avoid the taxes on the capital gains.  Consult your financial advisor regarding the details of such a transaction.

For more information and instructions on how to transfer your securities to The Bedford Area Educational Foundation, call Michele Shaffer at 434-385-1914 x1 or email info@bedfordeducation.com.

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Bequests  

A bequest - a gift made through your will - allows you to retain control of your assets during your lifetime and distribute them as you wish upon your death.  After providing for loved ones, you may choose to include a gift to The Bedford Area Educational Foundation.

Some of the most common types of bequests include leaving a fixed dollar amount, a specific property, a percentage of the estate, or the residual portion of the estate.  A charitable bequest may reduce the estate tax.  Consult an attorney when making or revising a will to ensure compliance with state law and to minimize any applicable taxes.

For bequests to The Bedford Area Educational Foundation, your attorney may find the following wording useful:

"I bequest the sum of $______ to The Bedford Area Educational Foundation, a Virginia non-profit charitable organization, to be used to support teacher requests for programs that build connections between our community, businesses, and students; incentives to help attract and maintain the best teachers; remedial education programs; creative teaching for classroom activities; special events or speakers; or participation in academic competitions in supporting the highest quality public education for students in the County and City of Bedford, Virginia.” 

For more information, please call Michele Shaffer at 434-385-1914 x1 or email info@bedfordeducation.com.  

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Charitable Gift Annuities  

A charitable gift annuity assures you income for life in addition to a sizeable charitable income tax deduction.  In exchange for an irrevocable transfer of cash or securities, The Bedford Area Educational Foundation agrees to pay a specified annuity to the donor and/or another beneficiary. Benefits may include:

· Qualifying for a federal income tax deduction.  Deductions may vary modestly depending on the timing of your gift.  Note that deductions for this and other gifts of cash and non-appreciated property will be limited to 50% of your adjusted gross income.  For gifts of long-term appreciated property, deductions will be limited to 30% of your adjusted gross income in any one year.  You may, if necessary, take unused deductions of this kind over the next five years, subject to the same adjusted gross income percentage limitation.

· Receiving a fixed income in quarterly installments each year for life.  Additionally, part of each year’s payments will be tax-free for a specific number of years.  Payment rates and length of tax-free years vary with the age of the beneficiary(ies).

· Potential for reduced probate costs and estate tax on your estate.  Replace with estate.

· Appreciated securities avoid capital gains tax on the appreciated value of the security on that part of the property that is considered a gift.

For more information regarding charitable gift annuities, please call Michele Shaffer at 434-385-1914 x1 or email info@bedfordeducation.com.

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Matching Funds  

The Bedford Area Educational Foundation gladly accepts matching contributions from employers.  Please ask your employer if they participate in matching fund programs for charities.  If they do, please ask them to match your gift.

For more information and instructions on how to donate matching gifts to The Bedford Area Educational Foundation, call Michele Shaffer at 434-385-1914 x1 or email info@bedfordeducation.com.