Donations

When we began this form of memorial, it was envisioned as one of genuine celebration of the moment, the selection and recognition of a stellar graduating senior with a transformative scholarship. It was and is one of genuine celebration of life – the remembrance and honor of those among the Class who have passed away. With sadness for sure, but smiles and laughter aplenty, we recall the friends who graced our lives by their being.

It is our duty to guarantee this Scholarship survives and prospers – far beyond our Class. The scholarship awards each year are funded entirely from dividends and interest generated from our endowment fund; we never touch the principal.

What we can do – what you can do – is engage in knowledge of the many and varied methods of giving. We have all reached a point in our lives where we need to make some financial decisions. 

Your gift to the scholarship fund is tax-deductible, and you will receive a letter from the WSF acknowledging the same for your tax records. You may also make your gift in honor or memory of a friend or loved one. Just supply the WSF with the name and address of the person you wish to be notified, and the Foundation will send them an acknowledgment of your kindness without mentioning the amount of your gift.

We hope you will consider the RJR Class of 1968 Memorial Scholarship in those considerations.

You can donate online:

https://www.wsfoundation.org/rjr68

You can mail a check:

You can engage Planned Giving:

Here is a list of many of the planned gifting methods (any gift that involves a third party to complete). Whatever it is that you might consider: Ask for expert advice. Get an answer to all of your questions. Such advice may come from your own trusted source, an industry professional, from The Winston-Salem Foundation, et.al. Listen to the guidance of those you confide.

The following gifts are accepted by the Foundation:

• Gifts of Stock: The Foundation accepts publicly traded securities and closely held securities. Please let us know ahead of time if you plan to do this.

• Bequest: You can name the Foundation and designate this scholarship fund in your will or living trust. A charitable bequest can be a specific dollar amount, a percentage of your estate, or what remains after other bequests are made. Suggested language is: “Upon the death of (donor), (assets named in the bequest) will be distributed to THE WINSTON-SALEM FOUNDATION, EIN 56-6037615, to add to the R.J. Reynolds High School Class of 1968 Memorial Scholarship Fund.”

• Retirement Plan Assets: Retirement plan assets are often the best to give because they are heavily taxed if left to heirs at death. Income and estate taxes can easily consume a large portion of the account balance.

• Beneficiary Designation: The Foundation can be named as a beneficiary of a variety of assets, including life insurance, commercial annuities, bank accounts, certificates of deposit, or brokerage accounts.

• Lifetime Charitable IRA Rollover: Holders of traditional and Roth IRAs who are at least 70 ½ years old can make direct charitable transfers up to $100,000 per year per taxpayer. As a qualified public charity, the Foundation can help you execute the transfer to the scholarship fund.

And at age 72 (or 73 if you reach 72 after 12.31.22), assuming you have an Individual Retirement Account— you are required to begin withdrawing from the account by the Federal Government. This is referred to as RMD (Required Minimum Distribution). 

You will be taxed on the distribution/withdrawal unless… you donate the withdrawals to a QCD — Qualified Charitable Donation (a 501(c)3 – like our Class of ‘68 Memorial Scholarship Fund). You won’t actually touch the money – it must pass directly from your IRA to the QCD. The funds withdrawn from your IRA and donated to the QCD then become tax free.

• Real Estate: The Foundation can accept the gift of a house or other personal residence, farm, commercial building, and undeveloped land. A gift of real estate that you have owned for more than a year entitles you to the same federal tax advantages as those for gifts of securities – a tax deduction for the fair market value of the property – while allowing you to avoid paying capital gains tax.

• Charitable Remainder Trusts: The Foundation may accept designation as a remainder trust beneficiary of a charitable remainder trust, and the Foundation will also accept appointment as Trustee of a charitable remainder trust. The original minimum gift for a trust is $100,000. The annual payment rate for the trust will be no less than 5% of market value (or such other minimum percentage required by law) and no more than 8% of market value.

• Charitable Lead Trusts: The Foundation will accept designation as income beneficiary of a charitable lead trust and may be willing to serve as trustee with a minimum of $1 million and designation of 10% or more of the annual distribution to a Foundation endowment supporting the charity or charities of your choice.

For further information, please contact The Winston-Salem Foundation at: www.wsfoundation.org

Other giving opportunities exist, including

Insurance Riders – Some life insurance companies offer a rider to newly issued policies that will match a percentage of the policy's base amount if a beneficiary is a certified non-profit. For example, one firm offers a 2% match – the maximum payable is $30,000 per policy. If someone bought a $25,000 policy with the Class of ’68 Scholarship fund as beneficiary, it would contribute another $500.

Donor-Advised Funds – An account where you can deposit assets for donation to charity over time. A sponsoring organization manages the account, and the donor recommends how to invest the assets and where to donate them. The donor can also claim a tax deduction for making contributions to the fund.

Charitable Gift Annuity – A contract between a donor and a charity with the following terms: As a donor, you make a sizable gift to charity using cash, securities or possibly other assets. In return, you become eligible to take a partial tax deduction for your donation, plus you receive a fixed stream of income from the charity for the rest of your life.

Please contact your tax advisor, insurance carrier, or financial advisor for advice.

The Class of 1968 is indebted to the donors listed below: