P ‘27, ‘29
We're All In.
Every family is different. Every reason for giving is different; but, all support one common goal: Being ALL IN together. Together and ALL IN is a win-win!
Like all independent schools, Far Hills has an operating budget that relies on three main areas of income—tuition, endowment return, and philanthropy—to provide our students with a robust and well-rounded educational experience.
As a school, we must raise over $1 million annually to provide the Far Hills journey. For every $1 contributed to the Annual Fund, $.95 goes directly to support:
Faculty salaries and professional development,
Arts and Athletics,
And most importantly, this year, the health, safety, and extensive preparations to help Far Hills students and families feel safe and secure in school.
As such, gifts to the Annual Fund are our most important source of non-tuition income. When you make a gift to Far Hills, it’s not “just a donation.” It’s an investment in the educational and emotional growth of our students.
All Annual Fund donors have the opportunity to allocate their gift to one of six areas of distinction:
We’re ALL IN! Are you?
A Special Thank You to our 2020–21 Annual Fund Committee!
Annual Fund Co-Chairs
Helen and Ray Plummer, P ’21, ’24, ‘29
Committee Member Ambassadors
Christine Antoneck, P '21, '22, '26, '27
Sharyn Bilenker, P '21, '24
Andrew Brucker '90, P '20, '22, '25
Lynda McMaster Gentile, P '22
Lauren Ingenito, P '21, '24, '28
Josephine Isgro, P '27, '27, '29
Julie Jaster de Garcia, P '28, '31
Beth Mikosh, P '19, '17
Eileen Paragano, GP '28
The CARES (Coronavirus Aid, Relief, and Economic Security) Act
For the 2021 tax year, the CARES Act allowable "above-the-line" deduction for charitable contributions
Qualified Charitable Distributions ("QCDs")
An alternative method of using RMD funds for charitable purposes include Qualified Charitable Contributions (QCDs). QCDs are RMDs that the taxpayer instructs the IRA custodian to pay directly to a qualified charitable organization (i.e., Far Hills Country Day School). When executed properly, QCDs can be excluded from income recognition in any given tax year (up to $100k). When the Secure Act was passed in late December 2019, the age for taking mandatory RMDs from traditional IRAs was increased from 70 ½ to 72; however, QCDs are still allowed at 70 ½. Friends of Far Hills Country Day School that are 70 ½ or older can use QCDs as a way to recognize a federal tax deduction on charitable contributions (even if the standard deduction is taken). When combined with the "above-the-line" $300 charitable contribution via the CARES Act, these particular types of donors can further increase their charitable contributions without having to itemize.
If you have any additional questions on how this may affect your charitable contribution tax deductions, make sure to consult a licensed tax professional.