What is the purpose of the J. Sargeant Reynolds Community College Educational Foundation?
The Educational Foundation was established to serve as a vehicle to raise private funds to support college initiates and projects. Private support helps to ensure that the college can continue to provide exemplary services and support even in the face of state budget reductions. The Foundation is governed by a Board of Directors, which includes civic and business leaders from the Richmond area. The Foundation is a tax-exempt 501(c)(3) organization and all gifts made to the foundation are tax deductible to the extent allowed by law. The Foundation's federal identification number is 54-1130296. How can I learn more about the financial operations of the Educational Foundation?
Detailed financial information about J. Sargeant Reynolds Community College Educational Foundation can be found by visiting www.guidestar.com. GuideStar is the nation's leading source of information about nonprofit organizations. GuideStar provides a free, public Internet service, which provides user access to extensive programmatic and financial information about more than 850,000 American charitable nonprofit organizations. To view information on the Educational Foundation, log on to www.guidestar.com and type "J. Sargeant Reynolds" into the quick search window in the upper left corner of your screen and click "go." Why does J. Sargeant Reynolds Community College need private funds? Isn't it a state school?
With the current fiscal demands on the Commonwealth, funding for higher education in Virginia is in a critical state. Compared to our southern peers, Virginia ranks 13th out of 15 states in appropriations to its community colleges. Additionally, a 2000 study by Virginia Legislature suggested that Reynolds is underfunded by $6-8 million. What are the potential tax and income benefits of giving to the Foundation? Donors to the J. Sargeant Reynolds Educational Foundation may benefit from:  | Income savings through a charitable deduction for the value of the gift based on the donor’s tax rate | | Avoidance of capital gains tax on gifts of appreciated securities and/or property | | Life income for themselves and/or others through life income and planned gifts | | Elimination of federal estate tax on the value of a gift passing to the Educational Foundation under a will or revocable trust |
Please note that these benefits apply in specific ways and may not be applicable to all gifts. Consult your attorney or financial advisor for more information. What is the relationship between the college and the Foundation? The Educational Foundation oversees and conducts all fund raising activities on behalf of the college. Since the Foundation exists solely to support and promote the college, all gifts to the Foundation directly benefit the college. To learn more about the Educational Foundation, contact the Foundation staff or read our publications. How can I make a contribution to the Foundation? Contributions are accepted in the following forms: | Contribution by check: Make checks payable to: J. Sargeant Reynolds Community College Educational Foundation, Inc. We accept personal checks, money orders and cashier's checks. | | Other contributions: MasterCard, VISA and gifts of stock and other real property |
Mail to:
J. Sargeant Reynolds Educational Foundation, Inc.
P.O. Box 26924
Richmond, VA 23261-6924 Contact the Foundation staff if you have questions about making a gift to Reynolds. How can I set up a Foundation scholarship for a Reynolds student?
A named scholarship for students can be established with an annual gift of $1,500. Foundation scholarships can be named in honor of a family member, a beloved professor or other individual or group. For more information about establishing a scholarship, contact Rose Liggan at 371-3084 or rliggan@jsr.vccs.edu What is an endowment?
An endowment is similar to an interest bearing “savings account” for the institution. The principal, or corpus, of the endowment is invested but never spent, thus ensuring that a donor's generosity will continue throughout the life of the college. Through its investments, the endowment account generates interest income in perpetuity. This interest income provides financial support for the area of the donor's choosing. At the Educational Foundation, an endowment account can be established with a minimum gift of $30,000. Currently, Foundation endowments support a number of areas, including culinary arts education and scholarships. For more information about establishing an endowment, contact the Foundation staff. Does the college have an endowment? Yes, the college has an endowment. At the end of fiscal year 2002, the Foundation endowment was valued at $1,529,494.00. | 
