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Why give to Gatewood Schools?
Our children are the future an dour most precious assets. Your participation means EVERYTHING! Why invest in Gatewood? You provide a better learning environment, smaller class size, better education, more individual attention per child, better preparation for college, improved student safety, more responsive educators, Christian education, better student discipline, and a greater sense of community. Gatewood Schools is a 501(c)3 organization. All gifts are tax deductible for federal income tax purposes. With that in mind, there are different opportunities for making a gift to Gatewood, including cash gifts, pledges, in-kind contributions, and GOAL participation. There are pillars of participation. Many businesses ask whether we have 100% participation from Faculty (we do); for the Board (we do). We are striving for 100% participation from every family enrolled this year. How do you want to give to Gatewood?
The ANNUAL FUND donations are tax deductible. Tuition payments are not. Annual Fund donations are the lifeblood of the school. Donations from parents, alumni, and friends allow the funding of programs and projects beyond what the basic budget can accommodate, and in fact, supplement the budget so that tuition can be kept as low as possible. These contributions enable Gatewood Schools to recruit and retain talented faculty, provide scholarships for deserving students, enhance academic programs, and keep the facilities up to date.
Redirect Your Georgia State Tax Liability Give to GOAL, a registered Student Scholarship Organization (SSO), that facilitates Georgia tax credits for donations that in turn provide tuition scholarships to children who desire to attend private K-12 schools. There are LIMITED TAX CREDITS available, so if you don’t specify Gatewood to receive these funds, other schools will get them instead. Anyone can donate! You don’t have to be a Gatewood parent. You may allocate as little or as much as you want up to the following limits: $2,500 fo ra married couple filing jointly, or $1,250 for a married couple filing separately, or $1,000 for an individual filing singly, and $10,000 for an individual owner of a pass-through entity’ (sole proprietor, LLC and partnerships). For Corporations the tax credit is up to 75% of their annual Gatewood, keeping your money local. A Tax Credit is more beneficial than a deduction. A credit reduces your GA taxes dollar for dollar while a deduction recused the taxable income upon which taxes are calculated. Your GA income tax is typically 6% of your Adjusted Gross Income. (Line 16 of GA Income Tax Return, Form 500). Last year, only 46 families contributed towards GOAL, but it helped 73 students (23 received GOAL only). Imagine if EVERYONE contributed! This could have a huge impact on keeping tuition costs low.
GAP Gatewood Association of Parents exists to support and enhance the educational experience at Gatewood. GAP helps to leverage volunteer power, improve communication, supports school programs and events, hosts a Teacher Appreciation Week and provides for the beautification of the school (refurbishing the front lobby and landscaping improvements). They have purchased computers, refrigerators and a stove for the cafeteria. Research clearly shows that parent involvement is critical in sustaining strong schools. Gap has its own non-profit status that provides financial and volunteer support for Gatewood students, teachers and staff.
Scholarships: Gatewood currently has no specific scholarship set up. Financial aid is provided through GOAL, the Annual Fund, and the FACTS program.
Endowments: These act as insurance funds for the future. An endowment is a fund that is restricted. Only the interest from the fund can be spent, not the principal that anchors the endowment. Only a portion of the interest or earnings from the endowment (typically 5%) can be spent annually to make sure the original funds grow over time. Endowments provide long-term growth and security, and anyone can contribute to an endowment.
Memorial and Honorary Gifts: Gifts in honor of a deceased individual or loved one are an especially meaningful way to contribute to Gatewood Schools. We will inform the family that a memorial or honorary gift has been made. You may also set up a child or grandchild as a Tribute account. These gifts are also tax deductible.