William James, the American philosopher and psychologist said, “The greatest use of a life is to spend it on something that will outlast it.” The Board of Directors of SaddleBrooke Community Outreach (SBCO) engaged in this type of farsighted thinking when it established the SBCO Scholarship Endowment Fund.
Since 2001, SBCO has been granting two- and four-year college scholarships to deserving students in the “Copper Corridor,” an area that stretches more than 100 miles from Catalina north to Globe, Ariz. The purpose of the Fund is two-fold: to ensure that college scholarships would continue to be granted even if SBCO as an organization ceased to exist and to provide funding for more scholarships (for both undergraduate and graduate students) without taking money from other SBCO programs. A minimum $5,000 level was set for Endowment Fund donations to keep smaller donations directed toward SBCO’s general fund.
However, not all of us are comfortable making a large financial donation during our lifetime. While we are living, we may need to carefully manage our financial resources. Inflation, a prolonged illness, or simply living to a ripe old age can make us cautious about giving away money today. But once we pass, such concerns no longer exist. As the old saying goes, “You can’t take it with you.”
A legacy donation, or planned giving, allows you to ensure your estate is distributed in a way that reflects your values and allows you to help future generations. Legacy donations are designated in your will or trust. You indicate the parties that receive the proceeds of your estate. One or even several individuals or organizations can be designated as your heirs.
All contributions to the SBCO Scholarship Endowment Fund must be made payable to the Community Foundation of Southern Arizona (CFSA) and designated for the “SBCO Scholarship Endowment Fund.” (CFSA’s Tax ID is 94-2681765.) This ensures donations are legally separated from SBCO general funds, properly processed, and the donor receives acknowledgment. To make a legacy donation, have your attorney include CFSA as the manager of the SBCO Scholarship Endowment Fund as a beneficiary in your trust or estate plan.
For more information about the SBCO Scholarship Endowment Fund, please send an email to SBCO.firstname.lastname@example.org or call the SBCO office at 520-825-3302.