Making a Gift from the USA
US taxpayers can make donations to the School which are tax deductible, to the extent allowed by law in the USA, by making your donation throughthe British Schools and Universities Foundation our affiliated US 501(c)(3) organisation.
Cash gifts may be made to the Foundation expressing preference for support of Merchiston Castle School. Cheques should be made payable to British Schools and Universities Foundation, Inc. (or BSUF) and postmarked on or before December 31st to qualify for current-year tax deduction. If you send your donation directly to the BSUF please use the BSUF Donor Transmittal Form.
In giving gifts of marketable securities donors could realise significant tax benefits. Please see Instructions for Donating Securities. To contact BSUF regarding a gift of marketable securities please send e-mail to treasurer@BSUF.org
Charitable Remainder Trusts
There are two kinds of Charitable Remainder Trusts: a Charitable Remainder Annuity Trust and a Charitable Remainder Unitrust, designating BSUF as the remainder beneficiary. Either of these trusts affords the donor an immediate charitable tax deduction in the year the trust is created. The trustee then pays the donor income during his/her lifetime or that of any other living non-charitable beneficiary the donor may designate. In the case of a Charitable Remainder Annuity, the payment is a fixed monthly sum (determined by the beneficiaries' ages and gender, and the original principal amount of the trust). With a Charitable Remainder Unitrust, the payment will fluctuate up or down depending on investment performance. At the death of the income recipient, the trust passes on to the BSUF as charitable remainder beneficiary; donors may express a preference for an Approved Institution.
BSUF is not permitted to offer tax or legal advice. Donors who are contemplating creating a Charitable Remainder Trust must consult with a professional advisor for guidance (usually their lawyer and banker) prior to making decisions.
To contact BSUF regarding a Charitable Remainder Unitrust please send e-mail to treasurer@BSUF.org
Individual Retirement Accounts
IRAs can be made much more tax efficient by naming the BSUF as a beneficiary with an expression of preference for an Approved Institution. This relieves the Estate of (a) the Distribution and Income Taxes which are levied by most State governments; and (b) of part of the regular Estate tax. To contact BSUF regarding an IRA please send e-mail to treasurer@BSUF.org
In 2007, those over age 70.5 years may find it advantageous to have contributions made from their IRA directly to a charity without paying taxes on the amount withdrawn. The rules are complex, and individuals should consult their own professional advisors for guidance.
A provision may be made in your Will or Trust bequeathing money to the Foundation. The following wording is intended only as a provision in a full Will or Trust containing all appropriate articles. To contact BSUF regarding a bequest please send e-mail to treasurer@BSUF.org
"I bequeath the sum of ____ dollars to the British Schools and Universities Foundation, Inc., a charitable organization under Section 501(c)(3) of the US Internal Revenue Service Code, and incorporated at 575 Madison Avenue, Suits 1006, New York, NY 10022-2511. Further, I express a preference that the Foundation consider granting aid to Merchiston Castle School, Edinburgh, United Kingdom."
If you have any questions, please contact the Development Office on +44 131 312 2263 or email firstname.lastname@example.org
Further details about the British Schools & Universities Foundation can be found on their website.