Save the Date ! Sunday, October 2, 5:30 p.m. 2011 Hopewell Academy Silent Auction and Fund Raiser
October Fest At Hopewell
Fundraising
Fund raising is a vital and exciting part of a school's growth and a sign of the school's stability. While older schools have had enough time to build large endowments or hold capital campaigns to fund their expansion needs, Hopewell Academy is at the beginning stages of fund raising and we need your help in many ways.
Like most schools, Hopewell Academy relies on fund raisers to provide financial support for specific programs. Through successful fund raising events, and with each passing year, Hopewell Academy becomes more established and more successful as a small private school. Your support matters!
Whether you donate pizza for the next teacher's workday, donate items for our silent auction, or make a tax deductible donation (Hopewell Academy is a 501(c)(3) Public Charity, your support directly benefits the teachers and students at Hopewell Academy.
There are many ways to contribute; contact the school today for more information on how you can help.
David R. Collins Fund for Creative Arts Raises $5,000
In the spring of 2009, Hopewell established an arts fund to provide an increased opportunity for arts in the curriculum. The inaugural art show and sale, "Masterpieces: Past, Present, for the Future," featured the art work of legendary artist Eugene Massin as well as other local and national artists. Hopewell raised over $5,000. Special thanks to Leanna Collins for providing the night's entertainment and Whole Foods for providing the hors' deourves.
We used these funds to contract with a music teacher and a theatre teacher to guide us in the production of 2 sold out nights of "The Hopewell Musical: Adventures of Dan Shovel."
Annual Silent Auctions
In 2010, Hopewell raised $49,000 during the Fall Auction Gala at Jimmy V's in Cary and sold out the event. Through donations, fundraising and corporate support we raised over $100,000 this year. In 2009-2010, Hopewell raised over $51,000 during the Fall Auction Gala at Gregory's. Overall in 2009 Hopewell raised over $165,000 in donations and fundraising. Click here for a complete list of the 2009 Sponsors and Donors. In 2008-2009, Hopewell raised over $12,000 towards our goal of $25,000 at Gregory's of Cary, NC. In 2007-2008, Hopewell raised over $9,000 towards our goal of $25,000. In 2006-2007 , Hopewell raised $7,000 at our very first annual silent auction.
Below are Pictures from a recent Silent Auction. (Click on image to start slide show)
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Items Auctioned at the 2009 Silent Auction (Click on image to start slide show)
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IRS Charity Guidelines
Donors who
purchase items at a charity auction may claim a charitable contribution
deduction for the excess of the purchase price paid for an item over its fair
market value. The donor must be able to show, however, that he or she knew that
the value of the item was less than the amount paid. For example, a charity may
publish a catalog, given to each person who attends an auction, providing a
good faith estimate of items that will be available for bidding. Assuming the
donor has no reason to doubt the accuracy of the published estimate, if he or
she pays more than the published value, the difference between the amount paid
and the published value may constitute a charitable contribution deduction.
In addition,
donors who provide goods for charities to sell at an auction often ask the
charity if the donor is entitled to claim a fair market value charitable
deduction for a contribution of appreciated property to the charity that will
later be sold. Under these circumstances, the law limits a donor's charitable
deduction to the donor's tax basis in the contributed property and does not
permit the donor to claim a fair market value charitable deduction for the
contribution. Specifically, the Treasury Regulations under section 170 provide
that if a donor contributes tangible personal property to a charity that is put
to an "unrelated use", the donor's contribution is limited to the
donor's tax basis in the contributed property. The term "unrelated
use" means a use that is unrelated to the charity's exempt purposes or
function, or, in the case of a governmental unit, a use of the contributed
property for other than exclusively public purposes. The sale of an item is
considered unrelated, even if the sale raises money for the charity to use in
its programs.
