Outright gifts go to work for the Academy right away, providing immediate resources for ongoing operations and special educational opportunities. Such gifts include:
- Credit card
- Wire transfers
- Tangible property
- Real estate
You may also make multi-year pledges. If you work for a company that has a matching program, you might be able to increase the value of your gift to Cushing. Read on for more.
Cash (check or credit card)
The simplest and most frequent gift to Cushing Academy is cash. There are three ways to make a gift of cash:
- You can make a gift right now with your credit card by using our secure online gift form at www.cushing.org/give.
- You can make your gift by phone, by calling our office at 978-827-7400.
- You can mail a check payable to Cushing Academy. To make a gift by post, mail your contribution to:
39 School Street
Ashburnham, MA 01430
Gifts via Wire Transfer
To make a gift to Cushing via wire transfer from a domestic bank, please direct your gifts and transfers to:
370 Main Street
Worcester, MA 01608
Please note “Gift” with the transfer for our information.
To make a gift to Cushing via wire transfer from an international bank, please direct your gifts and transfers to:
370 Main Street
Worcester, MA 01608
SWIFT Code #NRTHUS33
Please reference “Development Office” with the transfer and the recipient name should be Cushing Academy"
If you have any questions at all, please call the Cushing Academy Finance Office directly at 978-827-7022, or fax at 978-827-7185.
One way to maximize your giving is to make a pledge to Cushing. Generally, a pledge is payable by the end of the fiscal year in which it is made; Cushing’s fiscal year runs from July 1 to June 30. Cushing will send you regular pledge reminders about the balance of your current pledge. In certain circumstances, a multi-year pledge may be possible for larger gifts. Please call our office at 978-827-7400 to learn more about making a pledge to Cushing.
Securities and Other Appreciated Assets
Your gift of appreciated securities—stocks, bonds, or mutual funds—can provide significant tax benefits that reduce the net cost of your gift when compared with an equal gift of cash. If you have held a security or parcel of real estate for more than one year, donating this appreciated asset in lieu of cash can be a tax-wise decision.
Transferring Your Publicly Traded Stock
If the securities are Depository Trust Company (DTC) eligible, they may be transferred electronically to Cushing, through Cetera Investment Services. Securities should be routed as follows: DTC# 0701, for the account of Cushing Academy, account number 8CM03191. Please have a notation made on the transaction referencing the name of the donor(s) so we can match the proceeds properly. Cushing’s tax ID# is 042-104-048.
Donors cannot be credited for unclaimed stock gifts, so be sure to request the submission of your name(s) with your stock transfer(s) to Cushing Academy by calling 978-827-7400 or by emailing firstname.lastname@example.org.
Stock not publicly traded may also be donated, although both the donor and the Academy must exercise greater care in making the gift.
There are several benefits to making a gift of appreciated stocks, whether publically traded or privately held. However, these gifts can be complex. Before making a gift of appreciated assets, please give us and your financial advisor a call.
Many companies have matching gift programs. If you—or your spouse—work for such a company, they may match your gift to Cushing Academy. Employee matches typically range from a 1:1 to 1:3 ratio and are a wonderful way to maximize your gift. Your employer’s human resources office can provide the information and forms you need to take advantage of this benefit.
Gifts in Kind and Tangible Personal Property
Artwork, equipment, collectibles, supplies, books, and other kinds of tangible property can be valuable gifts to Cushing. Such gifts are subject to appraisal and must be approved by Cushing’s Gift Acceptance Committee.
Please note that the school is prohibited by law to appraise the value of gifts of tangible personal property. For donations of personal property over $500, the donor must complete the appropriate IRS forms for tax deduction purposes; for property having a value of $5,000 or more, the donor must obtain a qualified, independent appraisal.
Please contact our office if you would like to make this kind of gift.
A gift of real estate can be almost any kind of property, including a personal residence, vacation home, farm, undeveloped land, or commercial property. As a donor of real estate, you receive an income tax deduction and can avoid capital gains tax. You can also avoid a variety of ongoing expenses associated with real estate. Such gifts can also simplify your estate plan and free your heirs from estate taxes. You can even donate your personal residence or farm and continue to live there throughout your lifetime.
We can guide you through the real estate gift process. For more information, please call our office.