Back to Alumni

The Latymerians' Challenge

A gift costing a higher rate taxpayer donor £4,125 - net of tax - benefits the Latymer bursary programme by £22,500. 

How is that possible?

  • Join a group of alumni donors who each give the equivalent of one term’s fees (or 2 or 3….)
  • We need 21 pledges of £7,500 = £158,000 = a 100% bursary for a child to study at Latymer for 7 years from 11+ entry in 2018

A small group of alumni have established a “challenge fund” to match these 21 gifts. The matching funds will go to Latymer’s endowment for bursaries and would themselves be matched by the Latymer Foundation. Thus, if we were successful in securing funding by February 2018 for all 21 terms, not only would a new 100% bursary be created for a young person starting at Latymer next September, but as a result £316,000 would be assigned to the endowment to provide funding for such bursaries in perpetuity.

Now here's the magic:

  • Higher rate tax payer writes a cheque to the Latymer Foundation for £6,000
  • 25% Gift Aid is added worth an additional £1,500
  • This covers one term of fees of - £7,500
  • 45% tax payer claims tax relief worth £1,875*
  • Net cost to donor is £4,125
  • Challenge Fund matches the gift with £7,500 to the bursary endowment
  • The Latymer Foundation matches this £7,500 gift
  • Thus, a gift costing a higher rate taxpayer donor £4,125 - net of tax- benefits the Latymer bursary programme by £22,500

*These figures are indicative and professional advice should be taken as to your own personal tax situation.

 To find out more please email Ruby Danowski