ONEIDA EDUCATION FOUNDATIONThe following explains about the OEF Endowment Fund Program and how it is set up and administered:
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How much needs to be donated to establish an Endowment Fund?
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Will the donors of the Endowment Fund have any say in the dispersing of the Endowment Fund?
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How can I set up an Endowment Fund in honor of a loved one or a person of my choice?
Why an Endowment Fund?
The OEF was established in 1989 to provide a channel for donors to present monetary and in-kind gifts to t he Oneida County Schools and their students. Many of these donations are annual contributions made during various fund-raising campaigns. Other donations fund ongoing projects through the interest earned on endowments. Several prominent Malad Valley families have established endowments to honor the memory of family members.
How is an Endowment Fund setup?
The endowment funds are invested in mutual funds through Piper Jaffray of Pocatello. The annual interest is used by the OEF to fund projects and scholarships as specified by the donors.
What does the Endowment Fund support?
Endowments can be established to fund many types of projects through the OEF. The following are such examples:
- Materials and equipment for specific curricular areas (science, fine arts, vocational programs, foreign language, etc.
- Library books and resources.
- Technology,
- Scholarships.
- Playground Equipment.
- Athletic Programs.
- Extracurricular programs.
- Gifted and Talented programs.
- Specific school or grade levels (Malad Elementary, Stone Elementary, Malad Middle School, Malad High School).
- Capital Equipment.
How much needs to be donated to establish an Endowment Fund?
Any amount of money can be donated to the OEF to be used as an endowment. Generally, an initial donation of $1,000 is needed before an endowment is established. The annual interest from $1,000 can make a significant difference to a curricular area or specific program.
A donation of at least $5,000 is needed to provide funding for a scholarship as OEF strives for all scholarships to be $500. More than $5000 is always greatly appreciated.
Will others be encouraged to donate to an
Endowment Fund?The endowment for a scholarship can be established with less than $5,000 and then additional donation made until $5,000 is achieved. The OEF will work with donors to raise funds for endowments, if necessary.
What are the tax benefits of an Endowment Fund?
Donors of endowed funds should work with their attorneys and accountants in order to take advantage of tax benefits available to them.
Will the donors of the Endowment Fund have any say in the dispersing of the Endowment Fund?
When an endowment is established, a memorandum of understanding is drawn up to be signed by the chair of the OEF and the donor so that the donor's expectations and desires can be fully implemented by the OEF throughout future years. Once they have specified criteria for the use of their endowed funds, donors generally do not retain decision-making authority over these funds. Instead, they rely on the OEF board to adhere to the criteria and make decisions on the use of the funds. The OEF, in turn, reports to the donor regularly on the use of the funds.
How can I set up an Endowment Fund in honor of a
loved one
or a person of my choice?
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You may contact any member of the OEF Board and set up the endowment fund, or
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You may fill in the following form and submit it to the OEF.
Oneida Education Foundation Endowments
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William H. and Cecelia D. Rutter Memorial Endowment
Funds scholarships for students with a record of service to the community. -
Robert W. Waldron Memorial Endowment
Funds scholarships for students with a strong background in math and/or science and with expressed interest in continuing in a math or science field. -
M. Joe Davis Memorial Scholarship Fund
Funds scholarships for students with a strong background in history or political science and with expressed interest in continuing in a history or political science field. -
Tammy Thorpe Price Memorial Kindergarten Endowment
Funds projects for kindergarten at Malad Elementary School. -
David Crowther Memorial Endowment
Funds scholarships for students with a record of service to the community. -
Gerald E. Williams Memorial Scholarship Fund
Funds scholarships for high school athletes. -
Gerald H. Thomas Memorial Scholarship Fund
Funds scholarships for students with an interest in careers in business. -
Lucille Evans Memorial Scholarship Fund
Funds scholarships for students with special needs who plan to continue their education past high school. -
Bryce M. Robbins Memorial Scholarship Fund
Funds scholarships for students who participated in track in high school. -
G.K. Matkin Memorial Baseball Scholarship Fund
Funds scholarships for students who participated in baseball in high school.
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