Charitable trusts, bequests, estate gifts, and alumni-specific funds, memorials and scholarships — these are all ways alumni can continue their legacy at Farragut
Admiral Farragut Academy has stood for three-quarters of a century. During that time we have never wavered from our mission to instill the core values of integrity, self-discipline, perseverance, and wellness and fitness into the lives of young men and women.
We measure our success not by our own accomplishments, but by that of our cadets. Our ability to continue to affect and impact each future generation is dependent upon the direct involvement of those who understand and value the Farragut Experience.
Since Admiral Farragut Academy is a non-profit, tuition alone does not cover all the costs of educating a student. The higher the percentage of support, allows the school to qualify for grants and other gifts.
Ways You Can Give
Foundation and endowed funds, capital campaigns, memorials and matching gifts are just a few of the ways our alumni and friends support Farragut financially.
Alumni contributions have increased substantially since we began driving 100% of alumni donations toward The Foundation, which stands at $4.1 million.
Admiral Farragut Academy Foundation (#1 Alumni Gifts)
The Foundation was created in 1997 and has acted as the school’s separate 501(c)(3) endowment since. These funds are a permanent investment in the future of Farragut as a commitment to furthering the mission for future generations while providing immediate support through the Foundation’s annual distribution.
100% of alumni gifts are directed to The Foundation (unless otherwise specified by the donor).
Endowed funds are invested, rather than used as cash for immediate needs. The earnings from the endowment are distributed to support financial aid programs, academic or athletic programs, boarding programs, and facilities.
What does an endowed gift look like?
An endowment can be designated for a specific purpose, such as faculty development or financial aid and gifts range in size. If a donor wishes to create a “named” endowed fund, they must give or pledge at least $25,000 for sustainability of the fund. The gift can be made from cash, stock, life insurance, real estate or other assets. The gift is invested and only the earnings from the gift are used each year for the purpose designated by the donor.
Why are endowments important?
Because the capital is invested and not used. The income generated on the investment is an important source of revenue. Endowed funds create a foundation for fiscal growth and stability, while generating a reliable annual income to support financial aid, academic programs, and school facilities.
The Heritage Society is a society of donors who have bequeathed estate gifts to Admiral Farragut Academy. Heritage Society membership indicates that Admiral Farragut Academy and/or the Foundation is included in the estate giving plans of a donor. Some members will give through a simple will bequest, transfer the ownership of life insurance, or elect to use one of the many options available through various trust arrangements.
The method of giving is not as important as the decision to give. Our ability to continue to affect and impact each future generation is dependent upon the direct involvement of those who understand and value the Farragut Experience.
Planned Giving and Bequests
Did you know there are creative ways to support Admiral Farragut Academy? Ways in which Farragut, you and your loved ones all benefit at the same time? Such giving techniques are called “planned giving” because with thoughtful planning, you create win-win solutions for you and Farragut.
You can make a gift that costs nothing during your lifetime.
You can give stock and realize larger tax savings.
You can donate your house, continue to live there, and get a tax break all at the same time.
Where to Begin?
Identify Your Goals
Discover Gifts Anyone Can Afford
Explore Gifts That Protect Assets
Gifts of Securities and Appreciated Assets
Gifts of Securities provide a significant savings for the donor by avoiding capital gains taxes, while offering a good degree of tax deductibility. If you are interested in making a gift of appreciated stocks or bonds or gifting real property (real estate, a boat, a car or other tangible assets) please contact the Development Office for further directions for this type of transaction.
Often a donors can make in-kind gifts to Farragut of goods, services or equipment. Contact the Alumni and Development Office to confirm the nature of your gift and its intended use. Farragut will provide confirmation of receipt of such gifts. It is the responsibility of the donor to indicate the value of such contributions.
Corporate or Foundation Matching
Matching Gifts, also known as a matching fund or matching donation is a charitable gift made toward a non-profit organization by a matching donor (e.g., an employer) under the provision that an original donor (e.g., an employee) first makes a gift toward that organization.
Guidelines for such gifts vary from company to company. Specific questions regarding matching gifts should be directed to the donor’s employer Human Resource office.
Secure, Online Giving
It’s easy to make a secure online gift to Farragut. You can choose to give one time, monthly, or annually using your debit/credit card.