By considering a Planned Gift you will establish a legacy and ensure that your support will impact future generations. The Sanger Education Foundation accepts donations from individuals, corporations and other foundations to fund its programs and activities. Donations may be given in honor or in memory of someone. Contributions may also include endowment gifts to ensure the perpetuity of the Foundation. While donations of any amount are accepted, a minimum of $10,000 is required for a named endowment and may be given as a one-time gift or given over five years.
Endowed gifts are major gifts that create a permanent legacy which will impact students for generations to come. You can choose to contribute to the existing general endowment, or you can create a new one in your – or your chosen name.
An annual report on the financial status of your scholarship fund will be provided. You will also be invited to attend a special reception held annually with fellow like minded Legacy Supporters.
Endowed Named Scholarship
You might also be interested in establishing an Endowed Scholarship. This perpetual scholarship will create a legacy and support generations of students to come. Supporters have the option of fulfilling a five year commitment to fully endow your scholarship. You can name this scholarship after an individual, a business or a program, you select the name. You can extend the commitment period at any time with additional payments, or if you prefer, we can transfer the remaining funds into an established Named and Endowed Scholarship fund.
Planned Giving, such as wills, trust, life insurance, or other options, recommended by an estate planner, may be considered options. A bequest, a gift in your will or life insurance policy, is easy; it only takes a few sentences. Your gift is a charitable tax deduction at full value, helping offset possible estate taxes. When planning for a bequest, you will need to consider how you would like your gift to be used. It can be unrestricted in purpose or restricted to a specific program . It can be an expendable fund or an endowed fund that awards in perpetuity. If you are considering making a bequest to the Sanger Education Foundation, it can be made for a specific amount, or for a percentage of your estate. If you make a bequest from your estate, you will have to sign a new will or living trust instrument, or make amendments to the current documents. When planning for a bequest, you will need to consider how you would like your gift to be used.
Unrestricted: if you make an unrestricted bequest, the Foundation can use it for scholarships or programs that the Board of Directors has deemed appropriate for the mission of the Foundation.
Restricted: A restricted bequest directs assets to a specific purpose. A specific document will be created, specifying your wishes for the fund. This will ensure that your gift will only be used as you have specified.
Expendable: An expendable bequest will be used in their entirety over a specified period of time.
Endowed: An endowed bequest will provide income each year in perpetuity to carry out the designated purpose. (This type of fund will have minimum requirements, and only the income will be used.)
Bequests for unrestricted purpose: I hereby give, devise and bequest $_____________ dollar to the Sanger Education Foundation, a 501 (C) (3) organization, located in Sanger Texas at 601 Elm St. Tax ID#20.4067636. The Foundation may use these funds for general use and purpose.
Contact the Foundation for bequest language for restricted purposes or for bequests of specific Real Estate. We appreciate your consideration and we will work with your financial planners, attorney etc. to ensure that your gift is set up according to your wishes and your legacy will be handled according to your specifications. For additional information on contributions and endowment gifts, please contact the foundation office at 940-458-4859 or contact us through this website.
All donors are encouraged to seek professional advice and counsel about any gift to the Sanger Education Foundation, Inc. Gifts of non cash property, other than publicly traded securities and closely held stock valued at less than $10,000 must adhere to strict appraisal rules if the value of the property is more than $5,000.
Legacy Gifts may include:
- Life Insurance Beneficiary designations
- Restricted or Unrestricted Payments of Dividends from insurance policies, shares of stock, securities or other income producing assets.
- Real Estate