[Rhodes22-list] Financial question by Lady Sailor

Slim salm at mn.rr.com
Thu Nov 30 16:55:13 EST 2006 

Elle,

I'm afraid I can't give you any $$ advice but bless you for making monies
available to would-be music students and giving some kid a chance to get a
job that pays almost nothing while consuming his entire life!   8-)
Just kidding--but not kidding about the blessing.  Good luck.

Slim

On 11/30/06 4:46 PM, "elle" <watermusic38 at yahoo.com> wrote:

> Rex, 
> 
> The bank that we used while living there has a trust
> dept; that is another contact to add to my list.
> 
> These are splendid suggestions; surely one of these
> will have the answer.
> 
> thank you!
> 
> elle
> --- Charles Henthorn <rexh at sbcglobal.net> wrote:
> 
>> Elle:
>>    
>>      That same problem was solved here by the school
>> going to the trust department of a local bank that
>> was willing (as PR to the community) to accept a
>> trust created by the school with the money designed
>> to accept future donations from which scholarships
>> could be granted in the future from the earnings.
>> The bank charges a small administration fee and,
>> with the amount your are describing, the
>> scholarships would be very small at the beginning
>> but, from my experience, sometimes its not as much
>> about the size of the scholarship as it is the honor
>> it bestows --- especially if it carries a respected
>> name in the community.
>>      Just a thought.
>>    
>>   Rex
>>    
>>    
>> 
>> elle <watermusic38 at yahoo.com> wrote:
>>   Rob,
>> 
>> Right now the $$ is in the high school's
>> account...they graciously accepted the donations &
>> kept the names, etc for me. As the HS does not
>> administer the funds, they have to move them to a
>> recognized disbursement agency...hence the
>> management
>> co. (I think it is through a bank...have to go back
>> &
>> check...)
>> 
>> What we hoped to do was to be able to award a decent
>> amt to a deserving grad for music edu....
>> 
>> elle
>> --- Rob Lowe wrote:
>> 
>>> Elle,
>>> What type of school are you talking about? If a
>>> college or university,
>>> could just go into general scholarship fund. But
>>> then you wouldn't have a
>>> self sustaining fund, but perhaps your intent
>> would
>>> be met. I expect there
>>> are also more discriminating scholarship funds
>> (say
>>> for engineering or
>>> business) that would serve the same purpose.
>>> 
>>> 
>>> ----- Original Message -----
>>> From: "elle" 
>>> To: "The Rhodes 22 mail list"
>>> 
>>> Sent: Thursday, November 30, 2006 9:43 AM
>>> Subject: Re: [Rhodes22-list] Financial question by
>>> Lady Sailor
>>> 
>>> 
>>>> Thanaks, Ed. We're trying several different
>>> avenues
>>>> and may have come up with an idea that will
>>>> work....still open to new thinking, though...I'm
>>>> looking into tax-friendly ways to donate to the
>>>> fund...Bill, you appear to be a financial
>>> guru...have
>>>> you a direction I could pursue? It's a big
>>> learning
>>>> curve for me....thanks
>>>> 
>>>> elle
>>>> 
>>>> 
>>>> --- Tootle wrote:
>>>> 
>>>>> 
>>>>> Elle:
>>>>> 
>>>>> So your money is small potatoes to the
>>> school.
>>>>> Often it depends on
>>>>> the school, but usually most smaller
>>> institutions
>>>>> will play ball with the
>>>>> smaller contributors.
>>>>> 
>>>>> My first reaction is that they are trying
>>> to
>>>>> pressure you into giving
>>>>> more. The fund raisers are under serious
>>> pressure
>>>>> to get the most that they
>>>>> can. They do not know your real situation and
>>>>> therefore try for more. In
>>>>> sales it is said you do not get a sale until
>> you
>>> ask
>>>>> for the order. This
>>>>> just may be such a sales technique. Just
>> trying
>>> to
>>>>> up the donations. Just
>>>>> consider that they are just doing their job,
>>> which
>>>>> is to increase giving.
>>>>> 
>>>>> Just set up giving in a small amount each
>>>>> year to placate them.
>>>>> 
>>>>> Ed K
>>>>> Greenville, SC, USA
>>>>> Addendum:
>>>>> "You must give some time to your fellow men.
>>> Even if
>>>>> itâ?Ts a little thing, do
>>>>> something for others - something for which you
>>> get
>>>>> no pay but the privilege
>>>>> of doing it."
>>>>> Albert Schweitzer
>>>>> 
>>>>> 
>>>>> 
>>>>> 
>>>>> 
>>>>> L. Sailor wrote:
>>>>>> 
>>>>>> Hi, guys,
>>>>>> Since the sailing season is over for the
>>> majority
>>>>> of
>>>>>> us, I have a task to occupy your time, if
>>> you're
>>>>> up to
>>>>>> it.
>>>>>> 
>>>>>> Here is the problem:
>>>>>> 
>>>>>> In lieu of flowers for the funeral last
>> year,
>>>>> friends
>>>>>> sent donations for a scholarship fund in
>>> memory of
>>>>> my
>>>>>> guy.
>>>>>> 
>>>>>> It has several thousand dollars in it, but
>>>>> according
>>>>>> to the organzation that manages these types
>> of
>>>>> funds,
>>>>>> it needs to be at least 10K to generate
>> enough
>>>>> income
>>>>>> to be self-sustaining. ´even if I add some
>> to
>>> the
>>>>> pot
>>>>>> now (ha...gotta get #2 daughter through the
>>> last
>>>>> year
>>>>>> of school before I can help someone else's),
>>> it
>>>>> will
>>>>>> be several years before there is enough to
>>> give
>>>>> maybe
>>>>>> $500/year and to keep it
>> self-sustaining.....
>>>>>> 
>>>>>> So I need a plan 'B,' as the $$ is sitting
>> in
>>> the
>>>>>> school's account and needs to be moved as
>> the
>>>>> auditors
>>>>>> will become antsy.
>>>>>> 
>>>>>> I hoped to give $$ for quite a long time,
>> not
>>> just
>>>>> for
>>>>>> several years.
>>>>>> 
>>>>>> I have one idea but I thought the creativity
>> &
>>>>>> expertise on the list might spark an idea.
>>>>>> 
>>>>>> thanks for any ideas. I'll let y'all know
>> what
>>>>>> happens.
>>>>>> 
>>>>>> elle
>>>>>> 
>>>>>> 
>>>>>> 
>>>>>> 
>>>>>> 
>>>>>> 
>>>>>> 
>>>>> 
>>>> 
>>> 
>> 
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>>>>>> 
>>>>>> 
>>>>> 
>>>>> -- 
>>>>> View this message in context:
>>>>> 
>>>> 
>>> 
>> 
> http://www.nabble.com/Financial-question-tf2729185.html#a7618999
>>>>> Sent from the Rhodes 22 mailing list archive
>> at
>>>>> Nabble.com.
>>>>> 
>>>>> 
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>>>> 
>>>> 
>>>> 
>>>> 
>>>> 
>>> 
>> 
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>> 
>> 
>> 
>> 
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> 
> 
> 
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