Framlingham College was founded in 1864 and the aptly named 1864 Club was launched to recognise and thank individuals, during their lifetimes, who generously give major gifts and indicate that they’re leaving a legacy to Framlingham College.
It is through such generosity that we can ensure that the College remains at the forefront of education for future generations of Old Framlinghamians.
Every donation and every pledge, no matter how large of how small, will make a difference.
We have done something very special for all those young people to help turn them into the outstanding individuals they are at 25, 30 and, no doubt, for life and this is what makes the whole College such a fine place.”
Andrew Fane OBE, Former Chair of Governors
Members of the 1864 Club will receive regular communication so that they are updated on how the schools is progressing. They will also be invited to attend selected school functions and events throughout the year.
Social & Financial Returns on Investment
In addition to the Foundation receiving an additional 25p in the £1 from UK taxpayers via Gift Aid, donors are eligible for income tax relief as outlined below:
Based on 40% Tax Rate
| Net Value of Donation | Gross Value of Donation (Inc. Gift Aid) | Donor Tax Relief at 20% (40% tax rate less basic rate of 20%) | Actual Cost of Donation (Net Value of Donation less Donor Tax Relief) |
|---|---|---|---|
| £1,000 | £1,250 | £250 | £750 |
| £5,000 | £6,250 | £1,250 | £3,750 |
| £25,000 | £31,250 | £6,250 | £18,750 |
| £250,000 | £312,500 | £62,500 | £187,500 |
| £1,000,000 | £1,250,000 | £250,000 | £750,000 |
Based on 45% Tax Rate
| Net Value of Donation | Gross Value of Donation (Inc. Gift Aid) | Donor Tax Relief at 25% (45% tax rate less basic rate of 20%) | Actual Cost of Donation (Net Value of Donation less Donor Tax Relief) |
|---|---|---|---|
| £1,000 | £1,250 | £313 | £687 |
| £5,000 | £6,250 | £1,563 | £3,437 |
| £25,000 | £31,250 | £7,813 | £17,187 |
| £250,000 | £312,500 | £78,125 | £171,875 |
| £1,000,000 | £1,250,000 | £312,500 | £687,500 |
In essence, as a UK taxpayer in the 45% tax bracket, if you donate £25,000 the Framlingham College Foundation will receive £31,250 and your net contribution will be £17,187. In addition, donors are currently exempt from Capital Gains Tax on land, property and shares donated. Leaving a legacy will currently mean that your donation will either be taken off the value of your estate before inheritance tax is calculated, or reduce your inheritance tax, if 10% or more is left to charity. Therefore, in addition to creating a social return through social mobility, both the Foundation and UK donors can benefit financially through the current UK charitable tax laws.
If you would like to learn more about the 1864 Club please feel free to contact Andrew Cook, Director of Development, on 01728 723789 or at acook@framlinghamcollege.co.uk.
