Farragut Community School Foundation Program
Endowment for Excellence
January 21, 2005
The Farragut Community School District Board has partnered with The Greater Shenandoah Foundation Inc. to manage our endowment. The Greater Shenandoah Foundation is a non-for-profit, tax exempt organization. The board of education will continue to manage the endowments to provide new and improved educational opportunities for the benefit of students, teachers, employees and residents of the Farragut School System.
Farragut has a tradition of providing a strong, sound educational program. This new partnership provides a vehicle for contributing to the continuance of excellence for our community and children.
The Foundation operates on a non-for-profit and tax exempt basis, exclusively for charitable or educational purposes, including the following:
- To promote and support the continuing improvement of the educational program offered by Farragut CSD.
- To provide new, improved educational opportunities for the benefit of students, teachers, residents, and employees of Farragut CSD.
- To recognize excellence and outstanding contributions to the educational program of Farragut CSD.
Ways to Contribute
- Outright Gifts - Includes donations of cash, securities,
personal property, or real estate.
- Recognition Gifts: Cash gifts to honor a person or special occasion.
- Memorial Gifts: Money donated to honor a deceased relative or friend.
- Special Gifts: Money designated for a specified area of support. (Athletics, Fine Arts, Scholarships, etc.)
- Heritage Club
- Bequests: A gift by will.
- Specific Bequests: The donor specifies a dollar amount or percentage of the estate to be transferred to the Endowment Found of the Foundation.
- Contingent Bequests: The assets of the estate are transferred to the Fund if previously named beneficiaries are no longer living.
- Residuary Bequest: After all specific bequests have been satisfied, the Fund receives all, or a portion of the remaining estate assets.
- Life Insurance: This allows donors to change their premium dollars into charitable contributions by assigning policy benefits to the Endowment Fund. Premiums may be tax deductible, and the policy benefits may be exempt from estate taxes.
- Life Income Plan: This plan assists the Fund but also provides cash returns for the donors and their families.
- Charitable Remainder Trust: This provides income to beneficiaries during their life. After death of the beneficiaries or a specified number of years, the remainder of the trust is given to the Fund. Contributions to the Foundation are deductible for Federal income, estate and gift tax purposes.
Matching Gifts
Check with your employer to see if your corporation participates in a matching gift program. Under this program, your contribution is matched by your employer and the size of your original gift is doubled and sometimes tripled. Your company will provide you with a "matching gift" form to mail in with your donation. Check with the appropriate person in your business for more information.
