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Advancement Advancement
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Life Christian Education Foundation
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Endowment Funds
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Major
Partners Mission
Statement Life Christian provides a Christ-centered environment
of academic excellence, where staff work in partnership with families, to develop
students who will know and serve the Lord Jesus Christ with all their heart, mind
and strength. Life
Christian Programs That Need Endowments - Faculty
Salaries
- Technology
- Science
- Athletics
- Fine
Arts/Music
- Facility
Maintenance
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What
is the Life Christian Education Foundation? The Foundation is a
501©3 non-profit organization formed to provide a perpetual source of revenue
that supports Life Christian.What is the purpose of
the Life Christian Education Foundation? The specific purpose of
the corporation is to provide funds and promote the educational process at Life
Christian. The funds will enhance educational programs, provide scholarships and
tuition assistance to students with a financial need, enhance faculty salaries,
provide capital maintenance funds, and future funding opportunities. Who
are these Foundation Board Members? Pursuant to the Articles and
By-Laws, the Board is composed of from five to eleven members, who are "of
good report, sound Christian character and possess good business judgment",
and are dedicated to the furtherance and success of Life Christian. What
are Endowment Funds? Endowment funds are designed to accept bequests
(testamentary gifts made through a donor's will), memorial gifts, and gifts of
cash or other tangible property. Endowment funds have been established so the
fair market value of the donor's gift will remain intact and permanently appropriated
to the fund. The resources given are invested in securities so the school uses
only the income the endowed funds generate. What
type of development will the Foundation be conducting? The Foundation
Board will concentrate on the soliciting of funds through donor gifts to include
Charitable Trusts, Lifetime Trusts, Testamentary Trusts, fundraising drives, specific
purpose endowments and through appropriate investment of available funds. There
is no restriction on the type of fund raising activities the Foundation may conduct. What
are the advantages of giving to the Life Christian Education Foundation? All
donations and gifts are tax deductible. Additionally, certain gifts such as charitable
remainder trusts, which designate the Foundation as the lifetime recipient of
income or as the beneficiary of the Trust, provide excellent tax deduction benefits.
When such a Trust is created, the donor protects the assets from capital gains
tax, provides a sizable income tax deduction in the year of creation and provides
for potential Estate tax deduction. Gifts of cash, stocks, real estate and personal
property of value, all qualify for tax deductions. An important advantage is
that the Foundation has an attorney who will prepare your Estate Plan to include
Wills, Trusts, Powers of Attorney, Community Property Agreements, Charitable Trusts
and Living Wills. The services are free and in addition to supporting the kids,
you can accomplish a task which all of us need for the protection of our families. How
can we give to or establish an endowment? A gift to the endowment
fund may be in cash as a current gift, or a planned/deferred gift. Property other
than cash, such as stocks, mutual funds, real estate, and other assets, may help
you make gifts at a lower cost with significant personal savings and donor benefits.
When you give appreciated property, you receive a deduction based on the full
value of the asset, while you also avoid capital gains tax (as high as 28%) that
would have been due if you sold it. What are the
existing endowments and what are their purposes? Buntain Endowment
..Tuition
Assistance Sonja Korum LIFE Program Endowment.
L.I.F.E. Program Larkin
Endowment
.....Tuition Assistance Hultgren Endowment
.Scholarship
Awards Gray Endowment
...Scholarship Awards Bond
Endowment
...Scholarship Awards Jordan Endowments.
..College
Scholarship Awards Schuler Family Endowment....Scholarship Awards Lara Reynolds
Endowment
.Scholarship Awards You may contribute to any of the existing
endowments or you may contribute assets to an endowment in a name you may choose
(Endowments in excess of $25,000.00).
How
can one give to the Foundation? Cash gifts Stocks and Investment
programs Giving through your will. Giving through: Revocable
Living Trusts Charitable Trusts Lifetime Trusts Testamentary Trusts Gift
Annuities Giving through life insurance. Giving through retirement plans. |  |
How
are funds managed and invested? Strategic Capital Group is an investment
manager for the Life Christian Education Foundation. It is an outstanding investment
advisory firm located in Gig Harbor, Washington. They are associated with Russell
Investments, one of the world's largest and most successful retirement fund organizations.
We are fortunate to be associated with these fine organizations.
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