Gene Pattison TKE Educational Scholarship
Zeta Delta Scholarship Fund at the TKE Educational Foundation
The Alumni Association established the Zeta Delta Scholarship Fund to enable Alumni to provide scholastic assistance to the members of TKE at Alma College. By having the Fund administered by the TKE Educational Foundation, virtually all the gifts provided by Alma alumni are deductible for federal income taxes. The Fund is managed by professional money managers with oversight provided by the Foundation Board of Directors through its Investment Committee. Each year the TKE Educational Foundation provides for an amount to be awarded by the Alumni Association to an active member of the Chapter. As of March 2006, the Fund balance is currently $8,152 with the award amount for 2005 being $500.
The TKE Educational Foundation is incorporated as a not-for-profit corporation in the State of Indiana and maintains tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. Its tax I.D. number is 51-0166412. Contributions made to the Foundation for its educational and charitable purposes offer tax advantages to donors to the full extent of the law. Gift acknowledgements are provided to each donor, with an indication of any services received in return for the donation.
There are many ways to give to the Zeta Delta Scholarship and the TKE Educational Foundation, to demonstrate support of your Fraternity for Life and helping fund the educational, leadership and scholastic programs available through the Foundation. Although not always the primary motivation for contributing, virtually all gifts to the Foundation qualify for special tax considerations for the donor.
Donations via check can be made payable to: TKE Educational Foundation
Write in the memo section of the check: Zeta Delta Scholarship Fund
Send payments to:
TKE Educational Foundation
8645 Founders Road
Indianapolis, IN 46268.
Credit card gifts may be accepted by calling the Foundation
Master Card, Visa and Discover cards are accepted.
Since a bequest is a gift made through your will, you retain full control of your assets during your life. Bequests may specify a designated sum of money, be stated as a percentage of your estate or provide that the residual of your estate (everything left after specific desires are satisfied) be directed to the Foundation. Bequests may also provide for the transfer of real estate, stocks and bonds or other valuable personal property to the Foundation.
This is the most common method used in giving to the Foundation. Cash gifts of any size are welcomed any time and may be in response to the Foundation’s annual fund drive or the Centennial Endowment Campaign, in tribute to another frater or your chapter, in honor of a family member or to support a specific Foundation program. If you itemize deductions on your tax return, an outright donation of cash is fully deductible for federal income tax purposes.
CORPORATE MATCHING GIFTS
Many corporations have established matching gift programs whereby they will match any gift made by an employee to a qualified charitable organization. The philosophy for many companies is that the most effective way to use corporate charitable dollars is in support of the interests of their employees. To find out if your employer has such a program, contact your company’s human services office which usually deals with corporate giving activities.
GIFT OF SECURITIES
Contributions in the form of stock, bonds or other securities which have appreciated in value since purchase can have significant tax benefits for the donor. You not only receive a tax deduction for the full value of the gift, but also avoid capital gains taxes on the appreciated value portion. Stock or securities should not be sold by you, rather sent to the Foundation properly endorsed with a certificate of transfer.
Memorial gifts in tribute to fraters who have entered the Chapter Eternal are an excellent way to honor their lifetime involvement and contributes to Tau Kappa Epsilon. Such gifts can be a means to memorialize close friendships or recognize alumni achievements on behalf of the Fraternity. The families of those so honored are informed of your thoughtfulness and you receive acknowledgement of your gift.
GIFT OF REAL PROPERTY
This type of gift may offer the greatest tax advantages to the donor. A gift of appreciated property during your lifetime generally qualifies for tax deductibility and avoids the capital gains tax on the recognized profit. It is also possible to transfer such assets and still retain use of the property for life. Any acceptance of real property requires the approval of the Foundation Board of Directors.
GIFTS OF LIFE INSURANCE
The gift of life insurance can be a remarkable asset that requires a relatively small dollar investment in premium payments by you during your lifetime, but results in a relatively large future benefit for the Foundation. The Foundation can be named as owner of the policy and as such the premiums paid qualify as a tax deductible gift or an existing policy can name the Foundation as the beneficiary. Benefits paid from such policies not only generate a substantial gift to the Foundation, but are not taxable as a part of your estate.
GIFTS BY CREDIT CARD
This is more a means to giving, rather than a manner of gift. Your donation by credit card basically qualifies as a cash gift with full immediate tax deductibility. It provides convenience to those who desire to make a gift at a particular time without having to have cash to do it. The TKE VISA Card is another way to make a credit card gift and have the Foundation receive additional support through its affinity program with First USA.
TRUST ARRANGEMENT GIFTS
Charitable remainder trusts are arrangements through which you would place assets into a trust that pays an income for as long as you live, with the Foundation as the ultimate beneficiary of the trust property. There are different options available, such as receiving a fixed annuity or a variable annuity. A financial advisor should be consulted anytime there may be a consideration of setting up such arrangements.
ELECTRONIC FUNDS TRANSFER (EFT)
EFT provides for automatic deductions from your checking account on a monthly basis for authorized pledged donation amounts to the TKE Educational Foundation. Smaller amounts deducted each month can enable a donor to increase the size of his total support for the year. A record monthly giving appears on each bank statement. It’s convenient for the donor and saves administrative costs for the Foundation.
UNITED WAY DONOR OPTION
Most United Ways have established Donor Options Plans. It’s a means by which employees, who are ‘encouraged’ to support their employer’s United Way Campaign, can designate workplace payroll deductions or one-time donations for other than United Way member agencies, such as the TKE Educational Foundation. Donor Option forms need to be requested by the donor and follow up of the gift designation is important to be sure the donor’s wishes are fulfilled.
For information on the donation of appreciated stock, establishment of a life income annuity, gift of property, setting up a bequest in one’s will, comments or questions contact:
Greg L. Hatcher
President of the Zeta Delta
(Phi Phi Alpha) Alumni Association
Any comments or questions about the TKE Educational Foundation
can be directed to:
Gary A. Reed
President / CEO
TKE Educational Foundation