Ways of Giving
This is a paramount year for NYMA. We must increase our levels of support to start securing our future so the Academy will always be here to benefit students through its academic courses, outstanding character development and community life. Today, students are educated for service in the nation and in today's global civilization. They must be prepared to achieve more and have a greater impact around the world. This is what NYMA alumni should be proud of … supporting a tradition that has grown and expanded in scope but means the same thing for all! Alumni show their pride in many ways, and now is the time to support the Academy at your highest level possible. According to the National Association of Independent Schools, alumni support their private schools at a rate of only 10.2% but the average gift is $900.
Let’s not forget that we need support from parents also. Nationwide, 64.8% of parents support their student’s private school and the average gift is almost $1,200.
Why do schools ask for contributions?
Private schools, like NYMA, need annual contributions and grants to cover the cost of education. Without contributions, schools would not be able to survive. Gifts are used to cover the cost of providing NYMA students with scholarships as well as the general operating of the Academy. More and more students are requesting financial aid to be able to stay at the Academy and we must be able to answer that call.
Please Join Us!
The Academy has several critical needs:
- The Roof on the Gym
- Repairs to the Swimming Pool
Planned Giving: Giving that Benefits Your Family and NYMA!
What Inspires You?
According to the company Stelter, Inc., not surprisingly, 83 percent of current planned givers say they have a natural affinity to the mission and cause of the charity that they have mentioned in their will. Most donors also believe that gifts to charities change the world for the better and giving makes us feel good! The reality is that many people have children who are doing very well, so there is a great ability to make a gift to a favorite charity such as the New York Military Academy!
By choosing to make a planned gift, you ensure that the impact of your generosity will reach far beyond your lifetime. Planned gifts also offer a variety of tax benefits and can make estate planning easier. We’ll work closely with you to determine the gift structure that is most appropriate for your goals—and that will have lasting value for the New York Military Academy.
Types of planned giving vehicles include:
You can choose to create a lasting legacy for NYMA by naming the school in your will. Bequest options include:
•A specific bequest of cash or real property, designating a set dollar amount or specific piece of property
•A proportionate bequest representing a percentage of your estate
•A residual bequest, which distributes the balance of your estate after other specific bequests have been distributed
Life insurance policy gifts:
A life insurance policy that is no longer essential or valuable to you might be of great value to NYMA. And in most cases, when you make the Academy the irrevocable beneficiary of the policy, you will receive an immediate income tax deduction (the amount depends upon the type of policy contributed.) We have a professional who can help you get a policy that will benefit your family as well as the Academy! Please give Trish Prunty a call at 845-534-3710 x4229.
Gifts of retirement plan assets:
You can make NYMA the beneficiary of your pension, IRA, Keogh, 403(b), 401(k), or other retirement plan. Since the tax laws regarding retirement plans are complex, consider talking with your financial advisor about the best way to make your gift.
Gifts that provide income:
A life income gift provides lifelong income benefits for yourself or another beneficiary (you or the beneficiary must be at least 50 years old), and the gift assets will go to the Academy. Setting up an irrevocable life income gift entitles you to an income tax eduction today and ensures that you or your beneficiary has income for life.
For more information on ways of giving to support New York Military Academy, contact Col. Kastner, Superintendent, at email@example.com or 845-534-3710 ext. 4228.