Page 15 - Alumni Newsletter

What can it be used for?
How can you give the gift?
Are the contributions tax deductible?
How long can the gift be given?
Contact Information
To find out more, contact either of the following individuals:
Kelly James, Endowment Director 785.890.1529 kelly.james@nwktc.edu
Ben Schears, President 785-890-1501 ben.schears@nwktc.edu
Example: If an individual contributed $5,000 and received the $5,000 match, their corpus would be a $10,000 fund. If our pool of assets performs at an estimate of 8% per year, we would distribute 5%, and 3% would be deposited back into the fund to grow the corpus. The 5% distribution would provide a $500 scholarship (as an example), while $300 would be deposited back into the fund to support long-term growth.
When you establish an endowed fund, we will work with you to determine what it gets used for. Common uses are the support of scholarships, equipment for programs, facilities, student life, campus beautification, or any number of areas where you would like to see your gift put to work. We will work with you to name your fund and determine the use. If it is a scholarship fund, we will also work with you to establish minimum requirements for who receives the scholarship (GPA, hometown, major, etc).
You have the flexibility to establish the gift though a direct gift (cash, check, etc.) as well as to donate commodities, oil/gas income, and real estate. In the case of commodities and real estate, the donation would be then sold, and the income generated would be invested into the endowed fund.
The Northwest Tech Endowment Association is a 501(c)3 charitable organization and your contribution is eligible for tax deductions. If you have questions on the amount of the impact of the tax deduction, we encourage you to contact your local accountant. The portion of your fund matched by the Dane G. Hansen Foundation is not eligible for a tax deduction, only the portion provided by you as the donor.
The campaign we are launching now is for the next three years. We are seeking donors who are interested in contributing as frequently or as infrequently as they desire over the course of the campaign. Individuals can provide a one-time donation, monthly, quarterly for one year, two years, or all three years of the campaign. For the contribution to count toward the annual yearly goal, gifts must be received by December 31st of that year.
When the campaign completes at the end of 2023, even though the matching portion will be complete, individuals are able and encouraged to continue to make contributions to grow their fund corpus if they so desire!
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