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Foundation for Lovejoy Schools
259 Country Club Road
Allen, TX 75002
The Endowment Fund is a permanent fund that is invested to provide for future support of the mission of the Foundation for Lovejoy Schools.
An investment strategy is followed to maintain the long-term purchasing power of contributions to the Endowment Fund and to distribute investment growth or income generated to enhancing education in the Lovejoy ISD.
Gifts to the Endowment may be made to the following funds:
Allocation is designated by the FLS board of directors
- Designated for a specific program area (math and science for example)
Distributions will be allocated by the FLS finance committee to grants within the designated program area. Minimum amount for a Named Endowment is $10,000. (payments may be spread over a 5 year period)
Types of Gifts
This is the most popular type of endowment gift as it is the most simple. For tax purposes, a gift of cash is considered to be given on the date it is mode to the Endowment Fund.
This is a very tax efficient method of making a gift. The donor is entitled to a tax deduction for the full market value of the security donated on the date of the gift. The donor is not liable for the capital gains tax that would be incurred had the donor sold the security first before donating it.
- Through a Will
Bequeath in your will a percentage of your estate or a specific dollar amount. Bequests could be cash, securities, or real property
- Through Life Insurance
Foundation for Lovejoy Schools can be named as a beneficiary on a life insurance policy
- Charitable Lead Trust
Set up a trust that will pay to the Foundation over a designated number of years. At the end of the time period, the gift goes back to the donor or to their designated heirs.
- Charitable Remainder Trust
Set up a trust that will pay the donor income over the rest of their life with the remainder going to the Foundation at the death of the donor.
- Charitable Gift Annuity
Make a gift to the Foundation and receive a lifetime stream of income with the remainder going to the Foundation at the time of your death.