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Friends of the Angeles Chapter Foundation Join Us | |||||||||||||||
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FACF ANNUAL DONORS Become a FACF Annual Contributor and help secure the current priorities of the Angeles Chapter! Members will be kept up-to-date on our activities and receive the satisfaction of knowing their funds are at work in their local communities. Annual Donor categories are as follows:
Donations can be mailed to: Friends of the Angeles Chapter Foundation 3435 Wilshire Blvd., Suite 320 Los Angeles, CA 90010-1904 FRIENDS OF THE ANGELES CHAPTER OUTINGS ENDOWMENT Frequently Asked Questions WHAT IS AN ENDOWMENT? An Endowment is a fund of money set aside permanently in a legal trust to fund some activity. There is often a further restriction that the money in the endowment be invested, and only the income or interest used to fund the activity. Universities, Hospitals, Foundations and many charities have endowments that fund a significant part o their activities Harvard University has the largest endowment of many billions of dollars. HOW MANY OUTINGS ENDOWMENTS ARE THERE? There are two Outings Endowments. WHAT ARE THE TWO OUTINGS ENDOWMENTS?
At the time the Endowments were set up, it was felt that the sources of income for the Angeles Chapter might fluctuate from year to year, and there might be times when it would be difficult to provide all the funds the Chapter might need, which in turn would make it difficult to provide funds for the outings activities. The Outings Endowments were set up to raise funds to insure that money will always be available to pay for the Schedule of Activities and other Outings Expenses, regardless of the financial situation of the National Sierra Club or the Angles Chapter. WHY IS THERE A NEED TO BE CONCERNED ABOUT THIS NOW? Future sources of funds that are now used to pay for the cost of the outings program (in particular the cost of the Schedule of Activities) is uncertain. Most of the funds used to pay the cost of printing and mailing the Schedule of Activities come from past bequests to the Angeles Chapter account at the Sierra Club Foundation. Chapter income is derived from four sources: past bequests, current bequests, donations, and funds from the National Sierra Club, which in turn come from membership dues. All these can vary from year to year. Without the funds from past bequests, a shortfall in funds from National Sierra Club would be even more problematic. Fully Funding Outings Endowments will insure that there will always be funds for the Schedule of Activities and other essential or useful outings expenses. WHY A SEPARATE OUTINGS ENDOWMENT? The board of the Friends of the Angeles Chapter Foundation and Angeles Chapter Executive committee believed that the many people committed to the outings programs of the Angeles Chapter will be interested in insuring the permanent health and survival of the outings program, by a bequest to specific outings endowments By setting up the endowments, the intent was to try to insure the health and survival of the outings program, regardless of financial situation of the national and local Sierra Club, and to provide an opportunity for those to whom the outings program was important to support it, during their life and by a permanent legacy even when they might no longer be around. Angeles chapter members can also help the chapter by giving to a general chapter endowment, or a conservation endowment. WHY TWO OUTINGS ENDOWMENTS? There are two endowments because one can accept contributions that are tax deducible and the other cannot. One is run by the Friends of the Angeles Chapter Foundation, which is a charitable foundation, and the other is set up by the Angeles Chapter which is part of the Sierra Club. Contributions and bequests to the Friends of the Angeles Chapter Foundation are tax deductible—but subject to many more restrictors as to how it can be spent. Funds from the Friends of the Angeles Chapter Outings Endowment can only be used for purposes the IRS designates as charitable and educational. The following specific restrictions apply: Any activity or training funded by the Friends of the Angeles Chapter Outings Endowment must have an educational or conservation component and not be simply recreational; any activity or training that is funded must be open to the general public not simply outings leaders; would be leaders, or sierra club members. Training about Sierra Club procedures, cannot be covered. Currently about 2/3 of the cost of the Schedule of Activities is funded subject to these restrictions. Contributions and bequests to the Angeles Chapter Outings Endowment are not tax deductible—but subject to far fewer restrictions as to how it can be spent. Funds from the Angeles Chapter Outings Endowment can be used to fund the entire schedule of activities and ANY type outings trips, training, or equipment, including trips or training specifically intended for angles chapter members or outings leaders or would be leaders. Essentially it can fund any Sierra Club outings training equipment or activity. OTHER WAYS YOU CAN HELP All sorts of help is needed including such things as:
Friends of the Angeles Chapter Foundation 3435 Wilshire Blvd., Suite 320 Los Angeles, CA 90010-1904 Phone: 213-472-9800 Email: info@angelesfoundation.org | ||||||||||||||||
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