Donating to the British Friends of Harvard Business School
You can donate to the British Friends of Harvard Business School in two ways:
- Directly supporting our scholarships and outreach programs, through a donation that stays with the British Friends
- Making a gift for the benefit of Harvard Business School through the British Friends. A modest £250 or 5% of the donation (whichever is higher), remains with the British Friends to support our scholarships and outreach programs. The balance of the donation is transferred to HBS for appropriate educational purposes and for the benefit of HBS students, faculty and programs.
Donating to the British Friends in either way is tax efficient:
- British nationals paying UK tax can claim tax relief on their donations, considerably enhancing the effectiveness of their donations, by making them through the British Friends
For example, a 45% taxpayer making a donation of £1,000: the British Friends can claim tax relief of £250, and the donor can claim tax relief of £312 (25% of £1,250 – the gap between the higher rate and the basic rate). This results in a net donation cost of £688 to the donor, and £1,250 being received by the British Friends (or transferred on to Harvard Business School).
- Dual UK/US taxpayers can receive a double deduction if they pass their donation through the Charities Aid Foundation American Donor Fund. This benefits from the tax relief outlined above, and donors can claim tax deductibility on their donation in the US. A donation of £1,000 can result in £1,250 being received by the British Friends (or transferred on to Harvard Business School), at a net cost of £292 to the donor
All donations to the British Friends of harvard business school in either way, recieve full Class Credit and donor recognition at Harvard Business School.
Please consult with a tax advisor if you have any questions about how donations and/or Gift Aid affect your personal tax. Also, please contact info@bfhbs.org for any clarifications that the British Friends can help with.
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You can transfer your donations directly from your bank to British Friends of Harvard Business School:
Bank: Barclays
Account Name: The British Friends of Harvard Business School
Sort Code: 20-80-14
Account Number: 10712019
Reference: Donor name, degree/year, and intended gift purpose
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To make a donation send your cheque made out to 'British Friends of Harvard Business School' to: British Friends of Harvard Business School, St. James House, Vicar Lane, Sheffield, S1 2EX.
If you wish to set up a regular payment, contact us at info@bfhbs.org.
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Please use the following bank details to make a bank transfer:
Bank: Barclays
Account Name: The British Friends of Harvard Business School
Sort Code: 20-80-14
Account Number: 42860677
Swift: BUKBGB22
IBAN: GB36 BUKB 208014 42860677
Reference: Donor name, degree/year, and intended gift purpose
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Donors can give through the CAF American Donor Fund if they pay tax in both the UK and US and if earnings exceed the worldwide foreign-earned income threshold.
For more information and gift forms go to the CAF website.
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Please contact us if you are considering putting the BFHBS in your will: info@bfhbs.org.
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DONATIONS DIRECT TO HARVARD BUSINESS SCHOOL
The English Charity Commissioners have agreed that British nationals paying UK tax can make gifts for the benefit of Harvard Business School through the British Friends for appropriate educational purposes and claim UK tax relief on their donations. Following your donation, the British Friends will obtain the tax refund and add this amount to the donation and send onto the School. A modest levy of £250 or 5%, whichever is higher, is applied which covers the cost of the bank transfer and the rest goes into the Scholarship Fund. This is waived for first time donors who have left HBS in the previous five years up to and including their 5th year reunion. All donations to the British Friends Scholarship Fund will count towards section and class reunion fundraising and annual lists of donations at HBS whether donations stay with the Scholarship Fund or are transferred to HBS for appropriate educational purposes.
