[Rhodes22-list] Financial question by Lady Sailor

[Charles Henthorn]

Elle:
   
     That same problem was solved here by the school going to the trust department of a local bank that was willing (as PR to the community) to accept a trust created by the school with the money designed to accept future donations from which scholarships could be granted in the future from the earnings.  The bank charges a small administration fee and, with the amount your are describing, the scholarships would be very small at the beginning but, from my experience, sometimes its not as much about the size of the scholarship as it is the honor it bestows --- especially if it carries a respected name in the community.
     Just a thought.
   
  Rex
   
   

elle <watermusic38 at yahoo.com> wrote:
  Rob,

Right now the $$ is in the high school's
account...they graciously accepted the donations &
kept the names, etc for me. As the HS does not
administer the funds, they have to move them to a
recognized disbursement agency...hence the management
co. (I think it is through a bank...have to go back &
check...)

What we hoped to do was to be able to award a decent
amt to a deserving grad for music edu....

elle
--- Rob Lowe wrote:

> Elle,
> What type of school are you talking about? If a
> college or university,
> could just go into general scholarship fund. But
> then you wouldn't have a
> self sustaining fund, but perhaps your intent would
> be met. I expect there
> are also more discriminating scholarship funds (say
> for engineering or
> business) that would serve the same purpose.
> 
> 
> ----- Original Message ----- 
> From: "elle" 
> To: "The Rhodes 22 mail list"
> 
> Sent: Thursday, November 30, 2006 9:43 AM
> Subject: Re: [Rhodes22-list] Financial question by
> Lady Sailor
> 
> 
> > Thanaks, Ed. We're trying several different
> avenues
> > and may have come up with an idea that will
> > work....still open to new thinking, though...I'm
> > looking into tax-friendly ways to donate to the
> > fund...Bill, you appear to be a financial
> guru...have
> > you a direction I could pursue? It's a big
> learning
> > curve for me....thanks
> >
> > elle
> >
> >
> > --- Tootle wrote:
> >
> > >
> > > Elle:
> > >
> > > So your money is small potatoes to the
> school.
> > > Often it depends on
> > > the school, but usually most smaller
> institutions
> > > will play ball with the
> > > smaller contributors.
> > >
> > > My first reaction is that they are trying
> to
> > > pressure you into giving
> > > more. The fund raisers are under serious
> pressure
> > > to get the most that they
> > > can. They do not know your real situation and
> > > therefore try for more. In
> > > sales it is said you do not get a sale until you
> ask
> > > for the order. This
> > > just may be such a sales technique. Just trying
> to
> > > up the donations. Just
> > > consider that they are just doing their job,
> which
> > > is to increase giving.
> > >
> > > Just set up giving in a small amount each
> > > year to placate them.
> > >
> > > Ed K
> > > Greenville, SC, USA
> > > Addendum:
> > > "You must give some time to your fellow men.
> Even if
> > > itâ?Ts a little thing, do
> > > something for others - something for which you
> get
> > > no pay but the privilege
> > > of doing it."
> > > Albert Schweitzer
> > >
> > >
> > >
> > >
> > >
> > > L. Sailor wrote:
> > > >
> > > > Hi, guys,
> > > > Since the sailing season is over for the
> majority
> > > of
> > > > us, I have a task to occupy your time, if
> you're
> > > up to
> > > > it.
> > > >
> > > > Here is the problem:
> > > >
> > > > In lieu of flowers for the funeral last year,
> > > friends
> > > > sent donations for a scholarship fund in
> memory of
> > > my
> > > > guy.
> > > >
> > > > It has several thousand dollars in it, but
> > > according
> > > > to the organzation that manages these types of
> > > funds,
> > > > it needs to be at least 10K to generate enough
> > > income
> > > > to be self-sustaining. ´even if I add some to
> the
> > > pot
> > > > now (ha...gotta get #2 daughter through the
> last
> > > year
> > > > of school before I can help someone else's),
> it
> > > will
> > > > be several years before there is enough to
> give
> > > maybe
> > > > $500/year and to keep it self-sustaining.....
> > > >
> > > > So I need a plan 'B,' as the $$ is sitting in
> the
> > > > school's account and needs to be moved as the
> > > auditors
> > > > will become antsy.
> > > >
> > > > I hoped to give $$ for quite a long time, not
> just
> > > for
> > > > several years.
> > > >
> > > > I have one idea but I thought the creativity &
> > > > expertise on the list might spark an idea.
> > > >
> > > > thanks for any ideas. I'll let y'all know what
> > > > happens.
> > > >
> > > > elle
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > >
> >
>
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> > > >
> > >
> > > -- 
> > > View this message in context:
> > >
> >
>
http://www.nabble.com/Financial-question-tf2729185.html#a7618999
> > > Sent from the Rhodes 22 mailing list archive at
> > > Nabble.com.
> > >
> > >
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