Talks have been on-going between The Winston-Salem Foundation and the 'RJ Reynolds High School Alumni and Friends' organization concerning us creating of an endowment with them. To create one, we need at least $25,000.FYI: whenever we receive donations (all of which are considered tax deductible), for those donations that are not immediately used by us: we keep these funds separated by what "instructions" came with them. For instance, we now have funds allocated for the yearly $1,000 scholarships we award, and for the $1,000 cash gift we annually give to the staff member selected as the RJR Teacher of the Year, and for the funding of the expansion of the Demon Pantry (which is there to supply food to students that come to school hungry).We are also separating another group of donations: those intended for the creation of an endowment with The Winston-Salem Foundation. Once we have received $25,000 in donations for this cause, we will fill out the paperwork to create our endowment.The advantage of having an endowment is that it makes sure that we will annually receive funds in the future (since we will be receiving disbursements of only the interest and dividends the endowed funds earned during the past twelve months). Another important reason for creating an endowment: you (and everyone else who makes donations) will be assured that these funds will be properly used (since professionals at The Winston-Salem Foundation will in future years oversee both what these funds can be used for, as well as who is eligible to receive them).To make a secure tax deductible credit card donation to help us create an endowment:click on the following link:To make a tax deductible donation via check: mail your check (made out to "RJR Alumni") to:RJR Alumni * PO Box 26172 * Winston-Salem, NC 27114.Please write on the memo line "create an endowment."
There is a good chance you may have some stock that if you sell it: you will have a lot of capital gains tax to pay to the IRS. One way to eliminate that problem is to donate that stock to us...since when stocks are donated: there are no capital gains associated with that transaction...and the donation will be tax deductible! To make a donation comprised of stocks: the shares of stock should be wired to the "RJ Reynolds High School Alumni and Friends" account with Wells Fargo (DTC # 0141; account #63262706). Please also send a letter to the RJR Alumni (to the above address), telling us:
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- the person making the donation, and their mailing address.
- a description (name of the stock) and number of shares of stock being transferred.
- the name of the brokerage firm used by the donor.
- you want the funds to be used to create an endowment.