Questions & Answers
Do you have questions about our organization? We have some more information to help guide you – see our FAQ below for frequently asked questions.
FAQ – Questions and Answers
Q: Where do donations come from?
A: The foundation’s endowment fund receives gifts from parents, educators, alumni, individuals in the community, civic and social organizations, corporations, financial institutions and services, and retail businesses. Some are large and some are small. All are significant.
Q: How are donations distributed?
A: The principle of the endowment is invested for interest income. The interest earned on the principle is divided annually between the Marengo area’s three public school districts. Marengo Community High Schools receives 40% of each year’s distribution; the remaining 60% is divided among the elementary schools based on current student enrollments.
Q: What are foundation funds used for?
A: Foundation gifts enabled the school districts to make purchases or fund educational projects and activities which are not covered by their annual operating budgets. All age levels and curricular areas are taken into consideration. Funding is not used for basics already provided for through normal revenues, such as teachers salaries, textbooks, and building maintenance.
Q: Who decides which projects will receive funding?
A: Each year, the school districts are advised of the amount of their annual gift. Their school boards then submit written proposals to the Foundation’s Board of Directors, which review each one to ensure that it meets MASEF’s guidelines. The Board then votes on each project, taking care not to jeopardize or replace any other existing funding source.
Since 1992, the Board of Directors has approved requests to purchase technology and lab equipment, enrichment materials and funding for drug awareness and other student programs.
Q: Are donations tax deductible?
A: Yes, the Foundation is an IRS 501(c)(3) tax exempt organization.
Q: How can I make a donation?
A: Gifts are received in various forms, including cash and checks, pledges, scholarships, memorials, gifts of stock, real estate or other real property, or by naming the Foundation as a beneficiary in your will or a life insurance policy.
If you would like more information about foundation please call (815)568-6511
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Phone: (815) 568-6511
Marengo, IL 60152
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