The AEAF is a non-profit organization that strives to encourage post-secondary education, promote education in the arts and provide arts exposure to the local community. The foundation is run by a 7-member board of directors who represent different facets of the community. The Foundation funds a variety of programs at the Alma Performing Arts Center including annual professional seasons, educational seasons, and the student scholarship program.
What we Do:
We strive to contribute to the Culture of Excellence throughout the Alma School District by:
Encouraging high school students to pursue a post secondary education
Promoting education in the arts for students in grade K-12
Providing arts exposure to the surrounding community
The Why of What we Do:
The bottom line: it’s all about our students. Contributing to the AEAF helps provide the extra margin of excellence allowing us to equip our students not only with a top notch education, but helps them reach their greatest future potential as successful and competitive adults. We work to go beyond essential government support by providing for enhancements through private giving that otherwise would not be possible.
Since its inception, the AEAF has awarded 1.4 million dollars in scholarship funds to Alma Graduates; aiding them in attending the college, university, or trade school of their choice. In recent years, an average of $90-100,000 annually is awarded. We the help of people like you, even more funds will be available as we expand the programs of the Foundation.
How it’s Done: We dream BIG!
All it takes is a quick tour of our facilities to understand that the Alma School District defies the definition of “small”. It all starts with a vision that requires community effort to accomplish great things.
Whether your interest lies in providing graduate scholarships, staff development, facilities, co-curricular activities or bringing world-class entertainment to the Performing Arts Center, your financial contribution will help us to realize a big picture future for generations of students to come.
Create a Legacy through the AEAF and realize Your Philanthropic Vision
In order to meet its goals, the Foundation seeks funding resources through endowments, private bequests, contributions, and entertainment programs.
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
Receiving income tax
Avoiding capital gains tax
Retaining an income stream for life
Increasing spendable income
Eliminating federal estate tax
Depending on the level of your gift, you will have the opportunity to designate how it is to be used, and to have it named as you desire. Significant gifts will be invested in the endowment fund which functions as a permanent savings account, for the Foundation to provide a perpetual source of income for such purposes as scholarships, awards, and special activities. Only the earnings of the endowment are spent each year. Scholarships , awards, or special activities funded from the endowment earnings can be named by the donor.
In keeping with the mission of the Foundation, it is important to recognize and honor those individuals and organizations that have made the commitment to be generous and loyal benefactors.
Each year the Honor Roll of Giving will recognize thoughts who have given during the year. They will also be listed in the programs of entertainment events that are presented by the Foundation. Additionally, special events will be held from time to time to honor our donors.
When it comes to making a contribution, please consider the following options:
Cash is the simplest, most direct, and most popular type of charitable gift. It can be given in a number of different ways. Because it is a charitable deduction, the actual cost to the donor is much less than the actual amount of the gift.
Securities and Real Estate
Also popular are gifts of appreciated property, such as securities (stock) and real estate. Such gifts generate double tax benefits. In addition to receiving an income tax charitable deduction for the full market value of the property of security, the donor avoids any potential tax or capital gain.
Tangible personal property
A donor is also entitled to a charitable deduction for gifts of tangible personal property such as works of art, stamp or coin collections, musical instruments or other personal property. There are specific tax guidelines that must be met.
The simplest and most straightforward, an annual gift is simply one that a person decides each year if, and how much, to give. Often an annual gift is made year after year.
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 $1000.00 for 10 years.
There are several 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 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 the designing a plan to meet your needs.
Types of Deferred Giving:
Will: Often a person will 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 a beneficiary and provide a substantial gift to the Foundation for a relatively modest 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. However, basically 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.
We look forward to speaking with you about your investment into the Foundation. However you choose to give, the Board of Directors thanks you sincerely for aiding us in our vision!
Chuck King, Executive Director
BOARD OF DIRECTORS
Jim Fincher, President