There are many beneficial and tax wise ways to support Rutgers Preparatory School. RPS is a charitable organization described in section 501(c)(3) of the Internal Revenue Code, and contributions to the School are usually deductible from federal income taxes. You should consult with your tax advisor for further information about the tax benefits of charitable giving.
Gifts of Cash: A cash gift may entitle you to an income tax deduction for the year in which the gift was made. Your gift benefits RPS right away and you may save on current year taxes. Checks may be made payable to Rutgers Preparatory School and can be mailed to The Development Office, Rutgers Preparatory School, 1345 Easton Ave., Somerset, NJ., 08873
Gifts of Securities: An outright gift of appreciated securities which have been held for more than one year may mean substantial tax savings at the fair market value of the securities at the time of the gift while avoiding Capital Gains taxes as well.
Real Estate Gifts: A donor may contribute a residence, commercial buildings, or developed or undeveloped real property. A remainder interest in a residence may also be donated provided that the value is significantly in excess of the mortgage. The Board of Trustees must approve that the real estate is immediately salable and that temporary ownership will not create the risk of imposing a liability under federal or state laws. If property has previously been held for more than one year, generally the donor may be entitled to an income tax deduction for the value of the property (or the remainder), and the donor will not incur a capital gains tax.
Gifts of Tangible Personal Property: A donor may contribute tangible, personal property such as paintings, antiques, silver, jewelry, etc., subject to the Trustees' acceptance. The income tax deduction available to the donor depends upon the type of property contributed and the School's use of the property. It is the responsibility of the donor and his/her tax advisor to assign a value to this gift for tax purposes and a certified appraisal may be necessary.
Gifts-In-Kind: Gifts-in-kind are non-monetary contributions given for use at the School. The Development Office assigns no dollar value to these gifts but does furnish a gift receipt. It is the responsibility of the donor and his/her tax advisor to assign a value to this gift for tax purposes. A certified appraisal is usually required for items with values over $5,000.
Matching Gifts: Matching gifts occur when participating companies match the amount given by employees or retirees. The donor must make his/her gift and complete the company's matching gift form. Some companies double or triple gift amounts. To find out if your employer matches gifts to RPS, contact your Human Resources department or ask the RPS Development staff to check for you.