Your donations directly fund scholarships given to Alma High School seniors pursuing a college education. Each year the Alma Education and Arts Foundation uses profits from Alma PAC productions in addition to donations from our generous supporters to fund nearly $100,000 in college scholarships for graduating seniors.
Due to COVID-19, we had to cancel all performances through the end of 2020. These cancelations will result in a severe reduction to scholarships in the coming year, as ticket revenue from these canceled shows will no longer be available to fund scholarships. The graduating class of 2021 will depend on the generosity of our donors more than any other to date. Please consider supporting the continuing education of Alma students by making a donation to our scholarship fund today.
Annual Giving – The simplest and most straightforward, an annual gift allows a person to choose each year if and how much to give. Often an annual gift is made year after year.
Pledges – A pledge differs from an annual gift in that it is a commitment to give a specific amount for a specified number of years. For instance, a person might pledge to give $1,000 a year for five years.
Endowment Scholarships – By making a donation to our endowment fund, you can ensure that your gift will continue impacting students year after year. With a one-time gift of at least $10,000 within one fiscal year, 5% of the initial endowment ($500 for a $10,000 donation) will be dispersed each year in the form of a college scholarship to a local high school student. The scholarship will continue to be given each year with no expiration date.
There are many types of deferred gifts. They all have in common that the commitment is made now to make the gift, with the assets coming to the Foundation at some time in the future. Usually, they are all associated with estate planning. Upon request the Foundation is happy to provide the services of an estate planner or attorney to assist in designing a plan to meet your needs.
Will – A person can choose to remember the Foundation in their will with a gift of cash or property.
Life Insurance – A life insurance policy can have the Foundation named as the beneficiary, and provide a substantial gift to the Foundation for a relatively modest annual outlay that is tax deductible.
Gift Annuity – In exchange for a transfer of cash, securities, or other property, the Foundation will pay you and/or your beneficiaries a fixed income for life.
Charitable Remainder Trust – There are several varieties of trusts. They consist of a transfer of cash or property to a trust administered by the Foundation. The trust pays an income to you and/or your beneficiaries for life or for a specified number of years.
Depending on what you give and the gift arrangement you choose, you can benefit by:
Providing support for Alma students
Supporting a specific interest
Fulfilling philanthropic goals
Reducing income tax
Avoiding capital gains tax
Retaining an income stream for life
Increasing spendable income
Eliminating federal estate tax
Recognition at Foundation events
If you are interested in making an annual gift to the Foundation, download our Donation Form, and return the completed form to the PAC box office located at 103 E. Main Street, Alma, AR.
If you would like to know more about any of the above options, or would like to set up a meeting with an estate planner, contact our Executive Director, Teresa Schlabach, at 479-632-2129.