The traditional way of giving to Foxcroft Academy is to make an outright gift of cash, securities, real estate, or personal property. Outright gifts offer the distinct advantage of being immediately available to assist Foxcroft Academy in its programs.
During each year, everyone receives an Annual Giving Campaign request and a postage paid envelope for easy return. Gifts may also be charged to your Mastercard or Visa by simply filling out the appropriate section on the remittance envelope. You may also call Cathy Hall in the Alumni/Advancement Office (207-564-6542) to make your gift with a Mastercard or Visa over the phone.
Gifts are fully tax-deductible and can be sent in at any time to the Foxcroft Academy Alumni/Advancement Office, 975 West Main Street, Dover-Foxcroft, ME 04426.
The maximum deduction that can be taken in any one year for a gift of cash is limited to 50 percent of a donor’s adjusted gross income. For gifts of appreciated property held long-term (more than 12 months), the limit is 30 percent of adjusted gross income. If the amount of this deduction exceeds these limitations, the unused portion can be carried forward and used during the succeeding five years.
Outright gifts of appreciated property such as securities and real estate enable a donor to take a full fair market value deduction without incurring capital gain tax in the process. Gifts of real estate are subject to the Board of Trustee’s right to sell and, when realized, the proceeds are used as directed by the donor. A full review by one’s legal and tax advisor is recommended before proceeding with a gift of real estate. Gifts of personal property, such as art, jewelry and furnishings are also welcome. Gifts of life insurance may also be made. In giving such, the donor can either name the Foxcroft Academy as the beneficiary of the policy or assign to it all incidents of ownership in the policy.