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HISTORY | ENDOWMENT | PROJECTS | SHESANS | MUSIC | REFERENCES |  |
 he Endowment
Fund (EF) is has been established under Shesa America (a non-profit, tax
exempt organization) to raise funds so as to secure a strong financial
status for Shesa-America. All donations made to EF can be deducted on
your federal tax return for the year in which the donation was made.
Purpose The EF is a tool for generating money and granting it to qualified causes related to Sacred Heart College (SHC). The by-laws of the EF are very flexible and allow alumni to participate in a wide variety of projects that might benefit Shesans and her community. Contributions
The endowment accepts all contributions and may be named as a beneficiary in a personal will or life insurance policy. If you would like to name the Endowment as a beneficiary of your estate or insurance policy, please consult your attorney. How the Endowment Raises Money The Endowment may raise money just like any other federally tax-exempt, public charity. This can be through donations or fund raisers. The by-laws the EF permit it to advertise for donations, to solicit donations through mass mailings, to give away small "token" items (such as buttons, imprinted pencils, etc.) in exchange for donations, and basically to raise money in any way that would be appropriate for a public charity. Control of the EF & Spending Decisions All the funds donated to the EF are controlled by the Board of Directors of the EF and Shesa-America. Grants from the EF may be made only to other tax-exempt, not-for-profit institutions. All EF expenditures (including grants) must be approved by a majority vote of a quorum of the Endowment Board of Directors. The by-laws of the EF permits the board to delegate grant making authority to a specific "grant committee" if so desired. Using Interest From EF For Grants Yes. The whole point of the endowment is to generate funds in perpetuity. To achieve this only the interest from the endowment will be used - the principal will remain in the endowment, providing operating funds for Shesa-America for generations to come. Why the Endowment is critical The EF will provide a solid financial base for Shesa-America. Shesa-America
will have enough money to better serve its members. With the EF we will
continue to generate revenue for years to come and will continue to grow.
We should be able to grant scholarships to new Shesans, champion more
projects in Sacred Heart College (SHC). |
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