Giving: Our History and Our Future
Mercersburg Academy first opened its doors in 1893 with about 40 students, four instructors, and three buildings on four acres of land. Today, thanks to the visionary leadership of Dr. William Mann Irvine and a deeply ingrained tradition of philanthropy, Mercersburg is a vibrant academic and residential community.
Enduring philanthropic support has truly guided the course of the school’s history. Every gift to Mercersburg serves the same mission: to provide a transformative academic experience that inspires our students to lead and serve in a complex, changing world.
Gifts make the Mercersburg experience even more extraordinary for the students of today and tomorrow. Learn about the school’s various giving societies and their generosity, sustained support, and commitment to establishing their legacy at Mercersburg.
Thank you for investing in Mercersburg Academy and in the lifelong success of our students!
Tax-Smart Ways to Give in 2020
As 2020 comes to an end, so do the opportunities for year-end tax planning—including several time-limited tax provisions enacted as part of the CARES Act legislation. Now through December 31, gifts to Mercersburg Academy can have an even greater impact on you and the school.
- Good news! You can take a charitable deduction for gifts up to $300 even if you don’t itemize deductions on your 2020 income tax return. This new provision was included this year specifically to encourage charitable gifts at a time when the need is greatest.
- Do you itemize your deductions? Itemizers may deduct cash gifts up to 100 percent of their adjusted gross income in 2020—an increase from 60 percent. This special incentive presents an opportunity for giving with an immediate impact. It is not available for gifts of securities or other assets, or for gifts to private foundations or donor-advised funds.
- Corporations may deduct charitable gifts up to 25 percent of the corporation’s taxable income (increased from 10 percent).
Please review the CARES Act and Charitable Contributions document for more information.
You decide how to make an impact.
Allows Mercersburg the flexibility to apply funds where they are most needed
Ensures students and faculty have access to resources needed to teach and learn, both in person and virtually
ArtsCosts related to academic and co-curricular opportunities as well as intellectual and creative enrichment for students
Athletics and Outdoor Education
Ensures students have access to activities that build physical strength and leadership potential
Campus BeautificationCosts related to maintaining our 300-acre campus
COVID-19 ExpensesCosts related to testing, masks, increased technology, and other COVID-19-related expenses
Costs associated with the added expense of to-go meals
Diversity, Equity, Inclusion, and JusticeStudent services and professional development
Financial AidMinimize financial barriers so that gifted students have access to a Mercersburg education
Health and WellnessCosts related to providing exceptional health care to Mercersburg students
Virtual ’BurgCosts related to online learning
Ways to Give
Thank you for considering a gift to Mercersburg! Your investment helps prepare young people to lead and serve our world. Below are some of the ways to make your gift.
If you own appreciated stock or mutual funds, you can gift them to Mercersburg Academy. By doing so you can take a charitable deduction for an amount equal to the value of the stock on the day we receive it, and you avoid any capital gains tax that you would have paid had you sold the stock. In this way, the tax savings can be much more significant than with a gift of cash.
Joe has a 50th Reunion in June and wants to make a special gift to honor that milestone and the special connections he’s reestablished with his classmates. He bought shares of IBM back in 1980 for about $16 per share. It now trades for about $135 per share. He makes a gift of $10,000 to the Annual Fund, larger than he ever thought possible, for shares that originally cost him less than $1,200. Additionally, he pays no capital gains because the shares were gifted to Mercersburg and he receives a tax deduction for the full $10,000.
Your stock broker can wire shares to Mercersburg’s account at the San Francisco office of Wells Fargo Advisors. Your broker will need Mercersburg’s account number (5839-0310), DTC Number (0141), broker’s name (Howard Adler), broker’s telephone number (800-634-4965), and Fed. I.D. #23-1365963 (The Regents of Mercersburg College).
Please ask your broker to inform Mercersburg’s broker of your name and to inform the school via fax (717-328-6211), mail, or email (email@example.com) of the above information and the date the transaction will take place.
New gifts fund account (where all gifts are normally deposited):
Bank: TD Bank, Wilmington, DE 19801 ABA
Swift Code: NRTHUS33XXX
Account Name: Mercersburg Academy – New Gifts Account Number: 4251283621
If you are a U.S. taxpayer and at least 70 1/2 years of age, you may make gifts to Mercersburg from your IRA without having to count those funds as part of your adjusted gross income. Consequently, you do not have to pay taxes on the gifted amount.
Distributions, which count toward your required minimum distribution (RMD), must be made directly from the IRA trustee to Mercersburg, and the individual maximum is $100,000 per calendar year. This is a great reason to consider using your IRA (instead of cash) to make a charitable gift.
Jane, who is 71, has two children who attended Mercersburg and she credits their successful path in life to the excellent faculty here. She wants to recognize the importance of faculty while continuing her incredible 38 consecutive years of Annual Fund support. Jane notifies her IRA plan administrator to make a distribution directly to Mercersburg Academy in the amount of $30,000 to support an existing endowed teaching fund and to make her Annual Fund gift. She will continue to make gifts annually in this way every year to fulfil her goals. This gift counts toward her annual RMD and where the gift doesn’t produce a tax deduction, she does not have to recognize the $30,000 as income.
For more information on these or other giving options, contact Carolyn Griffin Yeager at 800-588-2550 or firstname.lastname@example.org. Brokers and IRA administrators don’t always include donors’ names on stock transfers and IRA distribution checks, so if you’re planning to make a gift to Mercersburg Academy using an IRA or stocks, please let us know so that we can identify and recognize your gift promptly. And, please let us know if you want your gift used for a particular purpose.
Maximizing Your Support
Give a larger gift by making smaller monthly payments instead of a one-time contribution. These payments can be automatically charged to your credit card.
Commit your support beyond the current school year and keep track of your giving by making a multi-year pledge. Lock in your participation for up to five years at a time.
Volunteer your time in addition to your treasure and help Mercersburg galvanize support for the Annual Fund. Opportunities include class agents, reunion committee members, White Key volunteers, and phonathon callers.