USA and Canada KCOB Centenary Bursary

It was at a dinner with the Headmaster, Elwyn van den Aardweg, and his wife Tracy on their visit to the USA in July 2014 that the idea of a USA and Canada KCOB Centenary Bursary Fund was born.

While many USA KCOBs give privately to Kearsney, there was consensus that having a shared Kearsney USA and Canada Centenary Bursary Fund would give substance to the predominantly USA and Canada Old Boy network,

When Elwyn was asked “looking towards the future, what is the top priority that you see for Kearsney?” his immediate answer was “to raise support for bursaries and financial aid”.  Out of these discussions has come the vision to create a new and permanent bursary called the ‘USA and Canada KCOB Centenary Bursary Fund’.

Momentum for the USA and Canada KCOB Centenary Bursary Fund, led by Michael Hall started at the KCOB dinner in Santa Rosa, CA, USA (5 July 2014). Daniel Da Silva (Gillingham 2001); Brett Webber (Finningley 1981); Leif Gjestland (Gillingham 1950); Ian Macgregor (Gillingham 1952); Dereck Levy (Pembroke 1970); Michael Hall (Gillingham 1953); Grant du Plooy (Pembroke 1978); David Emanuel (Pembroke 1996); Elwyn van den Aardweg (Headmaster).

Our aim is to raise funding for Kearsney bursary awards in perpetuity by the Centenary in 2021. The amount necessary to fully fund such a bursary would be $ 500,000.  This would allow the interest derived from this fund to support deserving boys each year.

The USA and Canada Bursary Fund has grown tremendously since its inception due to the passion, commitment and camaraderie amongst our Old Boys living in the USA and Canada and to date we have raised $276 050. Please continue to dig deep so we are able to reach our target by the Centenary.

Carpe Diem

Michael Hall

This fund has been established by the USA & Canada KCOBs

All donations are invested by the Trustees of the Kearsney Development Fund in conjunction with the Fund’s appointed investment managers;

An endowed gift is commemorated in the history of the school and will provide a sustainable and ongoing fund as a source of income to support Kearsney College’s Bursary and Scholarship programme.

There several options in contributing to the Fund, for a once off EFT payment please see below:

Kearsney Development Fund

Kearsney Development Fund Bank Information

Standard Bank
Account No.:25 081 6733
Swift/Chips ID: SBZAZAJJ
Sort/Bank Code: 045726

Bank street address: 3 Inanda Road, Hillcrest, KZN, 3650, South Africa

Reference: USA-KCOB CF/Your Surname

Please send proof of payment to foundation@kearsney.com

General Board of Global Ministries

General Board of Global Ministries (GBGM) of United Methodist Church (UMC) Bank information

Wire Transfer:

Bank of New York Mellon:

Bank Street Address One Wall Street, New York, New York, 10286
Swift No.: IRVTUS3N
ABA/Routing No. 021000018
Account Name:  General Board of Global Ministries-UMC
Account No:  1096086020

458 Ponce De Leon Ave., NE | Atlanta, GA 30308

Attn: Judy Kelley

EFT Reference: USA-KCOB CF/Your Surname

Contact Details:

Judy Kelley, Senior accountant, Operations and Finance

jkelley@umcmission.org

(T): 404-460-7614; (F): 404-460-7125 | http://www.umcmission.org

Reference: USA-KCOB CF/Your Surname

Another Option

A suggestion from Michael Hall:

Donating directly from an IRA

For those of us past the age of 70 ½, who are required by the IRS to take a minimum distribution (MRD) from our IRA each year, there is a provision that makes charitable giving very attractive.

You can donate any or all of your MRD directly to Kearsney, through the General Board of Global Ministries and not have to pay any tax on that part of your MRD.

As an example:

Ø      If your required MRD for 2016 is $25,000, you can donate all or part of that to Kearsney without it affecting your taxable income at all. The disadvantage to using this route is that you cannot claim this as a charitable donation when filing your tax return.

Ø      If on the other hand you were to allow that $25,000 to transfer to you as income, it would have the following tax consequences (assuming that you are in a 25% Federal tax bracket and live in a State such as California that has an ~8% State income tax):

You would pay ~$6,250 in Federal taxes

You would pay ~ $2.000 in State taxes (this depends on your total income)

This would leave you with ~ $16,750.

Additionally, that $25,000 would be considered income for 2016 and could raise you into a higher tax bracket, possibly increasing your total tax bill as well as putting you into a higher bracket for Medicare Part B and D.

You could then donate this $16,750, or some part of it, to Kearsney and take that as charitable donation, thus reducing your total tax bill.

Summary:

Ø      Making the direct donation from your IRA would allow you to donate up to $25,000 to Kearsney and reduce your tax bill.

Ø      Taking the MRD as income would allow you to donate ~$16,750 Kearsney, increase your taxable income by $25,000, but would allow you to take $16,750 as a tax-deductible charitable donation

USA and Canada KCOB Centenary Fund Honours Board

We acknowledge and give special thanks to those who support this initiative:

 

2020

Grant Smith (Pembroke 1969)
Michael Aitken (Sheffield 2002)
Nathan Pilbrough (Pembroke 2011)

2019

Leif Gjestland (Gillingham 1950)
Michael Hall (Gillingham 1953)
Charles Moses (Finningley 1956)
Jeffrey Kaplan (Pembroke 1962)
Grant Smith (Pembroke 1969)
Mike Barnard (Gillingham 1963)
David Croudace (Gillingham 2000)
Rodney Salm (Pembroke 1964)
John Lacey (Finningley 1960)
David Scott (Gillingham 1952)
Doug Murdoch (Gillingham 1954)

2018

Leif Gjestland (Gillingham 1950)
Michael Hall (Gillingham 1953)
Charles Moses (Finningley 1956)
Jeffrey Kaplan (Pembroke 1962)
Grant Smith (Pembroke 1969)
Mike Barnard (Gillingham 1963)

2017

Michael Hall (Gillingham 1953)
Leif Gjestland (Gillingham 1950)
David Croudace (Gillingham 2000)
Iain Shuker (Finningley 1976)
Grant Smith (Pembroke 1967)
Tom Croft (Pembroke 1974)

2016

Tom Croft (Pembroke 1974)
David Croudace (Gillingham 2000)
Michael Hall (Gillingham 1953)
Joe Jensen (Gillingham 1942)
Grant Smith (Pembroke 1969)
Joe Hansen (Gillingham 1950)
Leif Gjestland (Gillingham 1950)

2015

Leif Gjestland (Gillingham 1950)
Michael Hall (Gillingham 1953)
Joe Hansen (Gillingham 1950) 
Joe Jensen (Gillingham1942)
Grant Smith (Pembroke 1969)

2014

Joe Hansen (Gillingham 1950)
Michael Hall (Gillingham 1953)

USA and Canada KCOB Times

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USA and Canada KCOB Times Vol : 12

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