Giving through the RCS Foundation to reach the students of RCS is easy, flexible and rewarding!

*care deeply about public schools

*belive that there is a sense of duty to society and a desire to improve the lives of others, or to make a difference and enhance educational opportunities for K-12 students

*wants to estabish a personal, family or business legacy at RCS

*have a direct personal connection to RCS

*loves to be involved and witness the difference of your donation

*believe in the emotional “Feel-Good” factor! Do you get a sense of personal satisfaction, happiness, or purpose when you donate to a great cause?

*aim to receive the maximum tax benefit under federal law for their charitable contribution

The RCS Foundation helps donors create a legacy of giving that focuses on more than a single charity or interest, beyond one year or a short-term initiative at RCS. The RCS Foundation works with a Professional Wealth Management Advisor to create a Donor Advised Fund that is endowed or non-endowed and the charitable interest of the fund can be honored forever, encouraging succeeding generations to carry on their philanthropic goals.

1. A non-expendable endowed fund or
2. An expendable endowed fund also referred to as a pledge fund.

Planned gifts include naming the RCS Foundation as a beneficiary in a will or trust and disbursements from a retirement plan or life insurance policy are acceptable. Through naming the RCS Foundation as a beneficiary, a fund agreement is excuted as a planned gift and creates a permanent legacy that will serve the RCS students’ educational enhancement for generations to come.

Is there a minimum amount required to create an non-expendable endowment or a pledge scholarship fund? If so, what is the minimum amount?

Yes, a minimum of $10,000 for a non-expendable endowment will in return provide an annual scholarship to one or two students from $1,000 to $1,500 from gains.

A pledged scholarship fund can be created with a minimum of $1,500 before the RCS Scholarship Program begins annually in November followed by an annual pledge to maintain the fund.

Naming a non-expendable endowment or a pledged scholarship fund.

All donor advised funds are established and named by the initiators of the fund. It could be a personal name, a family name, a career or a memorial fund are a few examples.

If I create a donor advised fund with the intention of establishing an annual scholarship award to RCS student(s), how are the recipients chosen for the scholarship?

• • There are 2 options a donor can choose from:

• • • Creating and sharing the names and emails of your own committee of 3-5 members. Annually, your committee will receive all the applicants or narrowed down to the top 10-15 applicants that chose your scholarship on the application platform to be considered for your award. 
    • The RCS Foundation Scholarship Committee, that consists of 7-8 members, review and choose the most eligible recipient(s) on your behalf, following your set criteria.

Are there any fees associated with creating a donor advised fund?

All credit card fees are listed and deducted from online payments. A report is generated and provided to the RCS Foundation from STRIPE and shared with the donor of the amount of fees deducted per credit used. 

On a pledged fund, a 2% annual “operation of fund” fee is processed towards the balance of the fund at the end of every fiscal year on June 30.

On a non-expendable endowment fund, a fixed 2% fee is applied annually to the initial contribution to establish the fund. For example, $200 will be deducted from the gains of a $10,000 non-expendable endowment fund on June 30.

These fee will be processed as a one-time annually deduction to cover the costs incurred to maintain and provide all RCS graduating high school seniors the opportunity to participate in the annual RCS Foundation Scholarship Program. The costs include but are not limited to the following operation fees: online submission website domain and platform site; processing student agreement and financial forms; check processing and mailings to colleges/universities; and the annual audit services to remain in good standing.

What are examples of donor advised scholarship funds? 

As mentioned, the RCS Foundation awards over 40 donor advised scholarships to over 70 RCS students annually. A list of the criteria, award amounts, legacy description of the funds can be reviewed by clicking the following and learning more about the annual: RCS Foundation Scholarship Program