At C.H.T.A. we are an entire community village that works to create a healthy, strong, supportive environment. We encourage parents, grandparents and our alumni by connecting them back to the Academy through events, and sharing career experiences with our students. We seek financial support from members of our community as well. Donations are needed from more than just a few individuals to help the Academy operate at its maximum potential. By donating and purchasing items from the school, you are assisting many if the unique programs and initiatives that makes Charles Henry Terrell Academy special.
Education requires considerable resources. Tuition alone does not cover our operating expenses each year. Our annual budget is financed through tuition and philanthropic support. Tax-deductible gifts to the C.H.T.A. Fund are the single most important source of non-tuition income for the Academy. This fund directly funds the school’s current operating budget.
Please note tuition alone does not cover the cost of running Charles Henry Terrell Academy on a monthly or yearly basis. Charitable giving is necessary to support the current operating budget along with essential long term initiatives.
Planned giving is a wonderful way of providing financial support for C.H.T.A. This method of giving is very attractive to both the donor and Academy. It allows your gift to be maximized while at the same time minimizing its impact on your estate. An estate plan that includes planned gifts will have multiple benefits to you and your family. Please consult a professional advisor before making any changes to your estate plans. You can give to the Planned Giving Program with the following:
I. GIFTS IN YOUR WILL OR TRUST
Charitable provisions in wills and trusts continue to be a very popular way to make a planned gift.
- Outright gifts or bequests
- Residuary gifts or bequests
- Contingent gifts or bequests
II. LIFE INCOME GIFTS
Ideal if you want to support the Academy while maintaining or increasing your current income and enjoying tax benefits.
- A Charitable Gift Annuity is a contract between a donor and the Academy. The donor transfers assets to the Academy.
- A Charitable Remainder Trust (CRT) is different from a gift annuity in that the donor transfers assets to a trust instead of to the Academy. At the end of the trust term, the remainder is transferred t the Academy.
- A Charitable Remainder Unitrust (CRUT) pays an annual income based on a percentage of the value of the trust’s assets.
III. CHARITABLE LEAD TRUSTS
This type of trust is almost the opposite of a charitable remainder trust. The payout goes to the Academy first, with the remainder passed along to your heirs at the end of the trust term.
- Life Insurance: When the original intent of a policy changes or is no longer needed you can name the Academy as a beneficiary or transfer ownership of the policy.
- Real Estate Gifts with a Retained Life Interest
- Retirement Plan Assets (IRA, Keogh, etc.) may be heavily taxed if left to individuals. It may make sense to name C.H.T.A. as a beneficiary of those assets and leave the other assets not subject to income tax as gifts for loved ones.
IV. CAPITAL AND ENDOWMENT GIFTS
Capital and endowment gifts provide lasting support for the Academy. Building and maintaining facilities, ongoing support for core areas of education, ensuring the faculty has the latest technology, and the provision of educational material and professional development opportunities are all greatly affected by the degree of given support. We encourage our entire community—alumni, present and former parents and grandparents, and others close to the Academy to take an active role in supporting the present and future of our remarkable institution.