What is the Alumni Fund Advisory Committee and when was it started? The ACS ALUMNI FUND ADVISORY COMMITTEE (AFAC) is a group of ACS alumni, who jointly established an alumni fund (the Fund) in September 2011. They manage the Fund and the way alumni donations are used. AFAC consists of ten alumni selected through an application process.
What are the goals of AFAC?AFAC has the following major goals:
Active ACS alumni contribution to the Fund
Centralization of all donations from alumni, their relatives, and other ACS friends by channeling them through a single platform
Transparency of information regarding ACS finances: sources of funding and historical donation levels
Accountability to donors and alumni regarding donations accrual and usage
What is the role of AFAC in managing the Fund?AFAC is only responsible for organizational matters connected to collecting and allocating donations. ACS stands for distributing donations in compliance with the donation categories.
What has AFAC’s donation target been for the Fund’s first years of functioning as such?The target was 10% participation rate from the entire alumni body in the first year, i.e. 2012-2013. The achieved result was 9.1%. See the ANNUAL REPORT OF THE FUND for more detailed results of the first year's campaign. The same goal of 10% participation rate was adopted for the second year, 2013-2014. See how diffrenet classes are doing so far HERE.
Who can donate?Anyone can donate: alumni, parents, other friends of ACS, as well as people who would like to make a donation on behalf of someone or because of various reasons of their own.
How are donations accounted for?AFAC publishes two REPORTS per year, in late spring and late autumn, in which collected amounts, their distribution, and any noteworthy trends per class are summarized.
The following two additional elements in the structuring of the Fund help tracking and visibility:
keeping a running LIST OF DONOR NAMES BY CLASS on the ACS website (with an option to not disclose donor names should that be the donor’s wish) and
keeping current AGGREGATE PARTICIPATION STATISTICAL DATA regarding alumni donations on the ACS website (i.e. x% of Class of 2003 has donated y BGN so far, etc.).
Are donations tax-deductible in Bulgaria and in the United States?In the United States, donations to ACS are not taxed and are deductible for income tax purposes for taxpayers who itemize deductions. The U.S. Tax Identification Number of Sofia American Schools, Inc. (usually required by corporations making matching gifts) is 13-6400773.
In Bulgaria, donations are taxed as income for ACS at a rate of 5%, paid by the receiver of the donation. /The tax can be paid by the donor, if this is contracted in advance with a contract signed by the two parties./ However, donations in cash or in-kind made by individuals are deductible from a Bulgarian taxpayer's taxable income up to 5% annually as are donations by Bulgarian corporations not exceeding 10% of annual profit.
Will I receive a certificate or a contract for my donation?The American College of Sofia can issue a certificate with the donor name and the donation amount. If the donor (an individual or a company) wishes to take advantage of respective tax breaks, a contract for donation may be signed. This is a valid option for donations in cash, as well.
Where does my donation go?The funding priorities for donations collected through the Fund follow the categories listed on the donation form. They are:
1. Need-Based Financial Aid
2. Academic Departments
3. Athletics / Student Clubs and Organizations
4. Student Clubs and Organizations
5. Infrastructure / Campus Master Plan
6. Unrestricted (ACS Admin Priorities)
How can I donate? What are the donation options?All donations options are described in detail HERE.
Can I make a gift in honor or in memory of someone?Yes.
Why are there two options for ONLINE DONATIONS, Donations to Bulgarian Account and Donations to USA Account?The existing two options allow donors to make a donation regardless of where they live. When the option Donations to Bulgarian Account is used, the donated amount is received at the bank account of the American College of Sofia. When the option Donations to USA Account (PayPal) is used, the donated amount is received at the bank account of Sofia American Schools, Inc. in the United States. Historically, some donors residing in the US have chosen the second option over the first one because some credit card types are accepted by PayPal and not by the currently existing options for online payments in Bulgaria.
Who can I contact if I need help making a donation or technical support?Krassimira Trifonova, Deputy Chief Accountant at email@example.com Do I need a PayPal account to set up a recurring gift? Yes. Alumni cannot set up a recurring gift without a PayPal account.
How do I cancel my recurring gift? Donors can cancel a recurring gift at any time by logging into their PayPal profile and cancelling the preapproved payment.
How do I modify the amount of my recurring gift? Recurring donors can modify the amount they give by canceling their existing recurring payment in their PayPal profile and creating a new one with the updated amount on the ACS giving page.
How do I modify the category allocation of my recurring gift? Alumni can modify a recurring gift's allocation between categories (e.g., Financial Aid, Student Clubs and Organizations, Infrastructure, etc.) in two ways. Alumni can either email Petia Ivanova '97 in the Alumni Office at firstname.lastname@example.org or cancel their existing recurring payment and create a new one with the updated allocation.
Here we upload videos, images, and short text updates on ACS students, clubs, and teams with achievements in their field, that were sponsored by the Alumni Fund.
ACSers Ivan Ivanov (Grade 8) and Hristo Papazov (Grade 9) both took second place on the National Fall Mathematics Competition held on November 9, 2013 in Sofia and Varna. In addition, Boyan Alipiev (Grade 8) and Ivan Ganev (Grade 9) won Certificates of Distinction in the tournament. Part of the travel expenses were covered by the Alumni Fund.
As of school year 2013-14 partially due to alumni funding, ACS ninth graders have a brand new textbook in Physics, one featuring online personal tutor among other things.