Your Gift Will...
Your gift will: -
- Enable bright children to receive an exceptional education that their parents could otherwise not afford
- Support the remarkable range of extra-curricular activities that together create the ‘Outstanding Blundell’s Experience’
- Build facilities and maintain the grounds that keep Blundell’s at the forefront of the British Independent Schools in the South West
- Enrich our curriculum by providing guests and speakers who motivate our pupils and enhance their education
- Fund prizes and other opportunities to reward achievement and effort
- Be your legacy to Blundell’s future
Maintaining the outstanding reputation of Blundell’s School is vital. Doing so means investing in modern facilities and talented teachers. In common with many independent schools, we have no significant endowment fund to assist with the funding of major projects or the continuing provision of much needed bursaries. The modernisation of our facilities, the management of our historic site and buildings, the development of an expanding curriculum, and the future funding of bursaries, are some of the cost pressures we face.
- School fees are carefully managed and directed to fund teaching and resourcing. The priority we give to these areas means that the cost of special projects, new buildings and additional teaching cannot be funded out of surpluses alone.
- The Development Department exists to raise money from donors (Parents, Old Blundellians, Trusts and Corporate Bodies) by cultivating a culture of philanthropic support.
- We are also responsible in supporting the OB Club and ensuring excellent alumni relations, maintaining the School’s network of former pupils and communicating with them on a regular basis.
- Many of the new build projects in the last 10 years have been made possible by the support and generosity of Blundell’s donors to the Foundation.
- Bursaries are of primary importance to the Development Department’s work. A major fundraising project, ‘The Peter Blundell Foundation Award Provision,’ is the establishment of this provision by providing bursary funds which will allow children whose families cannot afford the fees, to benefit from a Blundell’s education.
There are many other projects which also need financial support. These include boarding house refurbishments, teaching aids, sporting equipment, musical instruments and other important investments that are vital to the School. These purchases might seem small but they are essential to maintaining the quality of our educational environment. As important as major gifts are, many Old Blundellians, Parents and Friends also choose to make annual gifts, as they demonstrate the connection and appreciation that they have for Blundell’s School. By supporting the School on a regular basis, you are reinforcing to Blundell’s School the importance of their work. It is this tradition of giving something back to the School that links Old Blundellians of every era. Regular giving means that Blundell’s also has a dependable source of income that provides confidence to the financial planning processes.
Whether you decide to make your gift monthly, quarterly or annually all you need to do is contact the Development Office, or print off our gift form.
If you would like to make a donation to the Foundation please download the appropriate form and send to The Development Office, Blundell's School, Tiverton, Devon, EX16 4DT.
Higher Rate Tax
Donors who are liable to pay the higher rate of income tax can claim the difference (18% in 2009/2010) between the higher rate of 40% and the basic rate of 22% on the grossed up donation in their annual tax return. Thus a donation of £100 is worth £138.21 to Blundell’s Foundation, and in addition the higher rate taxpayer can claim relief of £23.08 for themselves, which means that the gift only costs the donor £76.92.
|Tax Efficient Giving: Making the Most of Your Gift|
|4 Year Total||You Receive Rebate
|Blundell’s Reclaims||4 Year Cost
|4 Year Value to Blundell’s|
|Example of figures for 40% higher rate of tax|
|Net Cost to Donor||Made up of a Donation of||And a Higher Rate Tax Relief of||The School Claims Tax Relief of||The School Receives a Total of|
However, if you wish to maximise your gift to Blundell’s you can nominate the Blundell’s Foundation to receive any tax repayment you may be entitled to when you submit your annual return to HM Revenue and Customs using the following unique reference code:
Blundell’s School Foundation.
You can also request that any repayment is made as a Gift Aid donation. All this would increase for example a donation of £3,000 to £4,800, proof indeed that it all makes a difference.
Funding can be provided in many ways, through an annual gift, a specified one off donation to be invested and provide provision in perpetuity, sales of stocks and shares, legacies and many gifts also attract substantial tax saving benefits.
Don’t think that a small amount does not make a difference, If you are able to afford just £2, £5, £20 or more a month, it really will enable a boy or girl to receive the most worthy gift for their whole life – a Blundell’s education to give them the chance of a lifetime.
Small and large gifts are welcome, whatever you feel is a comfortable giving level for you, all donations are most gratefully received and extremely welcomed. The opportunity to give is very flexible with either a single donation or a monthly contribution made over full or part of a year through a monthly standing order. If you are a UK tax payer all donations can be made tax efficiently and attract Gift Aid which increases the overall value of any gift you maybe by 28%, and if you are a higher rate tax payer, the cost is further reduced.
Donations can be made towards any project and one that is of most interest to you. A full list of projects is available and current projects are listed on the Projects link. You can if you wish, opt for the Development Office to allocate your donation, according to where the need is greatest, however you decide you can be assured that your wishes will be complied with.
|Donors||Amount||Frequency||Duration||Donations||Benefit to a
The Development Office is most grateful for all donations received in support of Blundell’s School.
Committed and regular support is the life blood of any fundraising charity and we will work with you to make this as easy as possible, we will contact you at regular intervals to ensure you are still happy with the arrangements. Should you require an annual statement of your contributions to assist you in completing your Inland Revenue self-assessment, we can provide this for you.
Please download and complete a Donation Form for every gift. You need only sign one Gift Aid Form. Please return forms at all times to: The Development Office, Blundell’s School, Blundell’s Road, Tiverton, Devon, EX16 4DT.
You can make your donation in a number of ways:
- A One Off Gift By Cheque – Please send your cheque with the completed Donation and Gift Aid form and make your cheque payable to ‘Blundell’s Foundation.’
- Regular Gifts by Direct Debit – Please download and complete the attached Direct Debit Form in addition to completing a Donation and Gift Aid Form. For UK bank accounts, a Standing order arrangement is also possible.
- Electronic Funds Transfer – Please transfer your gift directly to the Blundell’s Foundation Bank Account – these details are on the Donation and Gift Aid form. Please also send us a completed Donation and Gift Aid Form by post or scan a completed form and send it to us electronically. If you send a donation electronically please do let the Development Office know so we can ensure the donation is logged appropriately.
The most tax-efficient method of Supporting
The budget in March 2000 saw a revolution in how individuals and companies can donate to charities, which, for the first time, saw real benefits accruing to the donor as well as the beneficiary of the gift. An explanation of the tax advantages and the method of donating gifts of shares to Blundell’s School Foundation follows:
The amount the donor can deduct is
The market value of the shares or securities at the date of disposal; plus
Any incidental costs of disposing of the shares
Donors can therefore claim relief at their top rate of tax on the Self Assessment or Corporation Tax return.
|£50,000 to the charity by cash|
|Basic Rate Reclaim (22%)||£11,000|
|Higher Rate Reclaim (18%)||(£9,000)|
|£50,000 to the charity by quoted shares|
|Gift of Shares||£50,000||£50,000|
|Income Tax Relief (40%)||(£20,000)|
|CGT avoided (40% of gain)||(£16,000)|
The above worked example presumes a taxable income of £100,000+, that the shares were originally purchased for £10,000 and that the donor’s annual CGT relief has been utilised elsewhere.
What are qualifying shares and securities?
- Those listed or dealt in on a recognised stock exchange, whether in the UK or elsewhere, including shares traded on the Alternative Investment Market;
- Units in an authorised unit trust;
- Shares in a UK open-ended investment company; and
- Holdings in certain foreign collective investment schemes (offshore funds).
Supporters of the Foundation considering making a donation of one of these qualifying investments should consult their accountant or financial advisor.
How to donate a qualifying investment to the Foundation
If you decide to donate shares to the Blundell’s School Foundation, the procedure is as follows:
- We will send you a Stock Transfer Form for you to complete and return to us at the Foundation office. Also please send us the Share Certificate.
- We will then send this Form and Share Certificate with covering letter to the Registrar, which when actioned they will be asked to return to us.
- We will then send the completed form and certificate to our stockbroker, who will complete the sale of the shares and credit us with the funds.
- We will then inform you of the value we have received.
Most of the work will be done by the Development Office, but there are certain actions that only you can take.
- Where the stock is held in certificate form – procedure as above
- Where the stock is dematerialised (i.e. held in CREST, CGO or as an uncertified holding in a Unit Trust ) you should contact the Development Office and give details of the stock to be transferred, including the identity and CREST/CGO account number of the relevant custodian and the full name in which the stock is registered (with designation where applicable).
- In the case of a Unit Trust you should provide the account number of the holding.
For stock held in CREST or CGO you should authorise your custodian to accept instructions from >>. To transfer the stock to their control.
For an uncertified Unit Trust you should ask the Unit Trust Manager to prepare a stock transfer form for you to complete and return to the Development Office
If you are in any doubt about the actions you need to take, please consult Amber Oliver at the Blundell’s School Development Office.
Blundell’s School, Development Office, Blundell’s Road, Tiverton, Devon, EX16 4DT
Tel: 01884 232324
Changes announced in the 2002 budget extended the considerable tax advantages available to donors who donated shares to those who wish to donate land. This means that donors can claim the current value of the land against their highest marginal rate of income tax as well as being free of any capital gains tax on the property.
If you run your own business you may find this method a particularly attractive and cost effective way of supporting Blundell’s. When a company gives to a charity, the value of the gift can be offset against the company’s highest rate of Corporation Tax. Companies pay their donations gross and do not have to make any Gift Aid declaration. Tax relief is claimed against the value of the gift when calculating profits for Corporation Tax. Such gifts can be made on a regular or one-off basis. For example, at current tax rates, for a company paying the highest rate of Corporation Tax, the net cost of the gift of £10,000 to Blundell’s would only be £6,750. More information is available on the Inland Revenue’s website.
Payroll Giving is an easy way to give money to charity.
It is a flexible scheme that enables employees to make charitable donations to Blundell’s School Foundation straight from their gross salary, meaning donors receive immediate tax relief on the value of their donation.
Therefore, for a basic rate taxpayer wanting to give a £10 donation it will only cost £7.80 – or just £6 for higher rate taxpayers.
|Pledge||Value to School||Cost to Donor
Paying 22% tax
|Cost to Donor
Paying 40% tax
Many employers are further encouraging the scheme by matching their employee’s donations.
How does Payroll Giving work?
Very easily – payments are deducted straight from your salary either as a regular monthly payment or as a one-off gift. All you need to do is choose how much you would like to give and advise your payroll department. The money goes via Payroll Giving Agency (which charges a small administrative fee) to the designated charity or charities.
If your salary is paid through PAYE, your company is almost certainly eligible to offer Payroll Giving (you may be more familiar with the scheme as a specific brand name, such as Give as you Earn).
What to do now? Contact your payroll department for a Payroll Giving Form.
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