Ways to GIVE
Making a Gift
Online: It’s easy and safe! Simply choose one of the funds from the list below:
- The Graduate School
- The School for Children
- The Family Center
- The President’s Fund
- Liberty LEADS
- Bank Street Head Start
- Library Programs
Mail a Check: Please make your check out to the address below. On the memo line, please indicate the fund you wish to support. Our mailing address is:
Bank Street College of Education
Development and External Relations Office
P.O. Box 250865
New York, NY 10025
Honor Someone Special: A gift to Bank Street in honor of a student, teacher, or advisor is a wonderful way to commemorate a special occasion. Gifts may also be made in memory of a friend or loved one. Please provide information in the comments section (online) or include instructions with your check (by mail to the address above.) We will be certain to advise the honoree or family of the gift with the information you provide.
If you need further assistance, please email us at email@example.com or contact our Vice President of Development.
Make a Gift of a Securities
The tax benefits of making a gift of appreciated securities held for more than a year is two-fold:
Avoid capital-gains taxes and receive a charitable deduction for the transferred stock’s full market value.
Stocks are frequently transferred by electronic delivery. For instance, stocks are usually held in “street accounts” with financial services firms. While a taxpayer may irrevocably instruct his or her broker to transfer the stock to charity, the gift is not complete until the stock is delivered to the charity’s account. This means that the gift date for tax purposes may be days and possibly even weeks after the taxpayer’s instructions to transfer. This poses a potential problem to last minute charitable contributions. To receive calendar year tax credit for stock securities, please initiate the transfer prior to December 21st. (Note below: transfers of mutual funds require more lead time.)
Transfers to our broker do not include the name of the donor. For proper credit, please contact Sonja Carter (contact info below) and indicate the name of the stock you are giving, the number of shares, and to what fund you would like to give (e.g. The Bank Street Annual Fund, the Graduate School Annual Fund, or the School for Children Annual Fund).
Broker: Michael Dabulis, Neuberger Berman
Depository Trust Company (DTC) number: #0226/NFS
Finance Business Office (FBO) Account: NBJ036247
Bank Street Tax ID: 13-5562167
For more information and to assure that your gift is properly recognized and credited, please contact Sonja Carter, 212-961-3337.
Also note: The transfer of Mutual Funds is not DTC eligible. To make a gift of Mutual Funds, please contact our broker with the name of the fund and number of shares to obtain a brokerage account and full bin numbers. To guarantee your transfer of Mutual Funds for the end of the calendar year receipt, please make your transfer prior to December 1 of the year in which you require tax credit.
Match your Gift
If you or your spouse works for a company that participates in corporate matching, your contribution to Bank Street may be doubled or even tripled. Please contact your employer’s human resources office for information on how you can participate in their matching program.
When making a gift, please keep in mind:
- Matching gift programs can double or triple the value of your gift to Bank Street.
- The donor’s employer will also be acknowledged in the honor roll.
- We strongly encourage you to check with your employer’s charitable giving representative for the latest matching gift policy and relevant forms to complete—please let us know if you intend to have your gift matched.
Questions? Please contact Jacob Levy, Development Assistant by dialing 212-961-3315.
List of Several Corporations That Match Gifts: Bank of America-Merrill Lynch General Electric Barclays Bank Citibank Goldman Sachs Deutsche Bank HSBC Fidelity Investments JP Morgan Chase & Co Morgan Stanley The Bill and Melinda Gates Foundation Thomson Reuters UBS
Planned gifts, including bequests and life income gifts, are designed to help you meet your financial and charitable goals while supporting Bank Street in the long term. There are several ways to make a planned gift:
- Bequests to Bank Street are deductible for estate tax purposes. They may be structured in many ways and directed to a purpose of your choice. For sample bequest language please contact Sonja Carter at 212-961-3337 or firstname.lastname@example.org
- Consider an IRA Charitable Rollover. For those 70.5 years or older, directing gifts to Bank Street from your Individual Retirement Account (IRA) is an easy, convenient way to make a gift from one of your major assets. The gift will be excluded from your gross income: a tax-free rollover will count towards your required minimum distribution (RMD).
- Charitable Gift Annuities, which are funded with $25,000 or more in cash or securities provide fixed payments for life and an immediate tax deduction. A portion of these payments is usually tax-free for a number of years.
- Charitable Remainder Trusts provide a stream of payments for life (or a term of years) determined by investment performance (unitrust) or a fixed dollar amount (annuity trust).
Bank Street greatly encourages and appreciates such future gifts. All these planned gifts are counted in our Centennial Campaign and considered in our long-term financial planning. Please consult with your attorney or tax professional about what gift opportunity might best fit your situation. In appreciation of your planned gift, you will be recognized as a member of the Lucy Sprague Mitchell Society.
For more information contact Sonja Carter at email@example.com, or 212-961-3337.
What is an endowment?
An endowment is created when a donor gives a major gift, which is then invested in equities or bonds or other investment vehicles, and the income from the investment is available to spend each year by Bank Street for specific uses. Endowing a fund allows the principal to remain intact in perpetuity, thus ensuring the endowment provides a permanent source of funding for Bank Street. At present, that spending policy allows us to appropriate approximately 4% of the fund’s value to be used for the designated purpose of the endowed fund.
Impact of starting an endowment?
The impact of our endowments is enormous for our students, faculty, staff, and stakeholders at Bank Street. Currently, our endowments make an impact in numerous ways, depending on the original intent of the fund. Our endowed funds support scholarships for students in the Family Center, School for Children, and Graduate School, professional development for faculty and staff, programs and events at Bank Street, teacher and artist residencies, and operating costs for the institution.
How to create or support an endowment?
The minimum gift to establish an endowment fund at Bank Street is $50,000, which can be given in one gift or over several years. Endowment funds may be added to over time and by more than one donor. Higher minimums may be needed for specific purposes. If you are interested in starting an endowment or learning more about our endowed funds, please email our Stewardship Manager, Chase McNamee at firstname.lastname@example.org or call 212-961-3380.
How do we invest and use endowments?
We pool our endowment funds together, invest actively through an advisor as monitored by the Board of Trustees, and spend according to the policy established by our Trustees. At present, that spending policy allows us to appropriate approximately 4% of the fund’s value to be used for the designated purpose. Importantly, the goal with endowments is that with time, the fund will grow as the investment gains exceed the spending rate, allowing for increased support that can offset the effect of inflation.
Endowment Funds are governed by NYPMIFA, New York’s version of the Uniform Prudent Management of Institutional Funds Act. This law dictates “prudent” (wise) investment and use of all endowment funds.
Foundation and Government Grants
Foundations, corporations, donor-advised funds, and government agencies play an important role in furthering Bank Street’s mission. Our grant-making partners commit to improving the educational outcomes of children and their teachers through their generous support of strategic initiatives, projects, and scholarships.
The Institutional Giving team works with grant-making organizations whose interests are aligned with Bank Street’s mission and work. Together we create meaningful partnerships that advance our mutual goals. Partnerships support the development of teachers and leaders who are experts in the education of children and adults; expand Bank Street’s impact in the communities we serve; and ensure the college’s financial stability. We also work with Bank Street faculty and programmatic staff to make new connections with grantmakers, prepare grant proposals, and manage grant awards.
We welcome inquiries from foundations, corporations, and other grant-making organizations about Bank Street’s work. We are available to help you learn more about Bank Street, match your interests and giving goals with Bank Street initiatives, and arrange for you to meet with faculty and staff and visit programs. We strive to develop true partnerships that are collaborative and rewarding.
We appreciate suggestions from staff, faculty, alumni, and friends on potential grant-making partnerships that can further our mission, including introductions to potential partners. We also like to hear from prospective non-profit partners that are interested in working with Bank Street on specific grant opportunities.
To explore grant-making partnerships or to introduce Bank Street to potential partners, please contact Kris Conklin, Associate Vice President for Institutional Giving, at 212-961-3327.