Capital gifts play a crucial role in advancing Wayland's strategic objectives and initiatives. They have a significant impact on the Academy’s programs and resources.
They make a crucial difference, helping us strengthen or launch academic initiatives, create scholarships, build or renovate buildings, and undertake other projects that advance the Academy’s priorities. They also stand as philanthropic landmarks for all donors, inspiring others to give generously.
Capital gifts generally have these attributes:
- They are outright gifts (as opposed to deferred or "planned" gifts, which are often made through a charitable trust, a gift annuity, or a donor's will).
- Donors may pay them over a period of time, generally up to five years.
- Depending on the donor's intent, they can be spent in their entirety or they can be endowed funds that continue to support the Academy over time.
- They can be unrestricted, or they can be earmarked for identified Academy needs that are of interest to the donor, such as student scholarships or endowed chair of a certain academic department.
- They may be of gifts of cash, publicly traded securities, closely held stock, real estate, or other property.
- They generally qualify for favorable tax treatment and can be a strategic tool in estate planning and wealth transfer.
Many gifts come with naming opportunities, which means that an Academy program, building, or resource may be named in honor of the donor or someone else the donor wishes to commemorate.