A Gift That Educates
Editors Note: Following is the regular monthly column on the
Education Foundation, which operates independently of APEGGA and Council.
BY DENNIS BROOKS,
President, APEGGA Education Foundation
Atthis season, we traditionally give gifts to family and close friends.
But for a gift that keeps on giving, consider a donation to our foundation
for scholarships. These are gifts that can change lives.
Year end is a time to do tax planning, including choosing which charities
you wish to support and making a donation in the tax year 2001 to maximize
the benefits of tax credits. Although a tax credit can be used in ensuing
years, it may be to your advantage to claim it for this year.
The Income Tax Act requires the foundation to spend 80 per cent of its
tax receipted donations on our charitable purposes, namely scholarships
and awards, and the rest can go to endowment funds. APEGGA contributions
have sheltered us up to now so our endowment could grow fairly quickly,
but that sheltering is now near its limit.
This means we must look to other categories of donation that can go directly
to endowment - bequests, 10-year gifts, and gifts from other
registered charities or foundations. Other special types of giving include
insurance policies and gifts of securities that have had capital gains.
If you are in a position to consider gifts of this kind, we would be happy
to discuss it with you.
A few weeks ago, our foundation and APEGGA had a joint celebration in
which we recognized scholarship and award winners together with deserving
teachers. The latter are 14 of those (out of many nominees) who make math
and science fun. It is always a pleasure for me to take part in student
awards. It leaves me with a feeling that our future is in the hands of
bright, energetic, and capable young people. We can also celebrate a pretty
good year of growth of our foundation: more donations, more donors, and
laid for more growth next year.
Planning for 2002
In the last few months, our board of directors have been doing some soul-searching
about our future. We seem to be reaching the limit of what we can do as
a board of volunteers with a
foundation membership that has largely been inactive. We also need to
address the issue of a campaign aimed at major donors if we are to have
a significant endowment fund. The board feels the first need is to revisit
our vision and to create one that our donors will embrace. We will also
look at the practicality of a part time manager who can give day-to-day
and keep us moving ahead in our goals in a timely way. We also need to
develop our foundation membership to give ushuman resources needed to
attain the goals.
Heres wishing all our supporters the best of the season, and to
the world, Peace on Earth.
Special Note: In a previous column, I explained how to use
APEGGAs website to make an online payment. I felt quite confident,
because I had tried it! Unfortunately, the computer
went down before completing the transaction so it never went through!
So as a note of caution, wait for the Thank You screen which
tells you the transaction was successful and gives you a screen to save
as a temporary receipt. I tried it again today and got this acknowledgement.)