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Foundation Contributions
Showcase 2010 a Huge Success!
The South Suburban College Foundation would like to thank everyone who participated in and supported our Showcase 2010 fundraiser. This year’s Mardi Gras themed event was a huge success thanks to the more than 200 guests, 28 sponsors, and countless auction donors. Odyssey Country Club did a tremendous job as usual, and a good time was had by all thanks to wonderful sounds of The Connexion Band.
Most importantly, the SSCF hosts this annual dinner-dance to support academic scholarships and technology improvements for SSC students. Because of the great success of the fall Donor Drive, and now with Showcase 2010 raising nearly $40,000 in proceeds, the Foundation will award well over $100,000 in scholarship awards at our Academic Achievement Reception on Monday, May 10, 2010. These awards will assist many students who otherwise could not afford to begin or continue their college education.
Thank you all once again for your continued support of education in the south suburban community. We will continue to communicate our progress on behalf of SSC students to you in the future.
The SSC Foundation is a philanthropic, not-for-profit organization governed by a Board of Directors composed of 30 of the south suburban area’s finest business, civic and community leaders. The SSCF has now awarded over $1,000,000 in student scholarships since 1989. For more information, please contact Patrick Rush, Executive Director, at 708-596-2000 ext. 2463.
Gifts for the Present and the Future
Your financial support of the South Suburban College Foundation is an investment in the economic development of the south suburbs and a better future for the thousands of residents who depend on South Suburban College for the education and training to meet their career goals.
The SSCF annual campaigns include a spring Showcase Dinner and a Donor Drive in the fall. Individuals and businesses can establish a personal, memorial, or business-sponsored scholarship with an annual donation of $750 or more. An endowed scholarship fund that produces an annual scholarship for as long as South Suburban College endures can also be established with a donation of $30,000 (over five years).
Some other tax-deductable, charitable gift ideas include:
Cash/Check
If an individual itemizes, outright gifts of cash are fully deductible for federal income tax purposes up to 50% of the adjusted gross income. Total gifts that exceed this limitation may be carried forward for tax purposes for up to five additional years.
Stock
Giving long-term appreciated stock offers a two-fold tax saving. First, it allows individuals to avoid paying any capital gains tax on the increase in value of the stock. In addition, they will receive a tax deduction for the full fair market value of the stock on the date of the gift. For income tax purposes the value of such gifts may be deducted up to 30% of the adjusted gross income, with an additional five year carry forward.
Gifts of Insurance
To receive a charitable deduction, name the SSC Foundation as both the owner and beneficiary of the policy. If the policy has a cash value, an individual can take a charitable deduction approximately equal to the cash value at the time of the gift. In addition, any annual premiums will become tax deductible each year.
Bequests
Through bequeathing money in one’s will the Foundation can benefit tremendously while saving individuals many estate tax dollars at the same time. The federal estate tax can still take approximately 50% of one’s estate at the time of death.
If you are interested in making a contribution to the South Suburban College Foundation, please contact Interim Director, Patrick Rush, at (708) 596-2000, ext. 2697.
South Suburban College Foundation 2007 Donors