"The mission of the Southern Okanagan Secondary School Enrichment Fund Society is to encourage and assist all students in pursuing post-secondary education as well as enhance and enrich the quality of school life."
PRIMARY FOCUS
The primary goal of the Southern Okanagan Secondary School Enrichment Fund is to assist deserving students in the continuance of a quality education. This is done through the establishment of various Scholarship, Trust and Memorial Funds which make annual Bursaries and awards available to all students demonstrating excellence in their field of academic, technical, trade or vocational training.
The Southern Okanagan Secondary School has been helping to shape the futures of our young people for more than one half of a century. We continue to take pride in the successes of all our graduates.
The average cost of attending university is at least $15,000 per eight month term and that can only increase as governments continue to cut educational spending. It is already estimated that a basic degree, within 10 years, may exceed $100,000.
The need for higher education is an absolute necessity. It is therefore in everyone’s best interest to support the educational aspirations of all our students.
HOW CAN YOU HELP?
There are several methods of making a donation to the Southern Okanagan Secondary School Enrichment Fund Society. This brochure provides an outline of them to assist you in making your decisions.
Although not the primary reason for giving, a $200 donation can result in a 16% tax credit. Amounts in excess of $200 can be eligible for a 29% tax credit. For example: a one-time lump sum of $10,000 at a 5% rate of return results in a lifetime scholarship of $500 annually. You, the donor, benefit by a tax credit of $2874.
$10,000 @ 5% = $500 scholarship (priceless)
CASH GIFTS
Cash gifts are the most common form of donation. They may be made in a lump sum donation or may be pledged over a period of years.
The Society accepts one time gifts of cash or annual commitments to provide financial aid in the form of a bursary or scholarship awarded in the year the gift was given.
The Society may accept cash donations to be designated for specific purposes as agreed upon by the donor and the society which furthers the aims of the Society.
Donations are invested and the principal is held in perpetuity and the interest earned is distributed annually for students scholarships and bursaries.
GIFTS OF SECURITIES AND PROPERTY
The Society is able to accept donations of real estate, stocks, bonds, gifts-in-kind and other forms of securities and assets in consultation with the Society. The receipted value of the gift is based on its market value on the day of the transfer.
LIFE INSURANCE AND ANNUITIES
Donations can easily be made through life insurance and annuity plans. The Society may be named the sole beneficiary or may share the benefits with one or more named beneficiaries. Premiums paid on policies and plans where the Society is the owner and beneficiary are treated as donations for tax purposes.
BEQUESTS
Naming the Southern Okanagan Secondary School Enrichment Fund society as the primary or secondary beneficiary in a will is a method of providing a significant contribution.
*Donors may require consultation with their own legal and/or financial advisor when planning their gift.
Charitable Registration Number: 1054212-21
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