Our Vision for the children in our community
It began with a Vision
A vision for a community-funded effort which would benefit all Marengo and Union residents by enhancing the quality of education in our public schools. Since its founding in 1992, MASEF (the Marengo Area Schools Education Foundation) has worked to build an endowment fund which would enrich and enhance educational programs and opportunities for elementary and high school students through annual gifts to our schools.
The foundation is governed by a Board of Directors comprised of local residents who oversee these gifts to Marengo Community High School District 154, Marengo-Union Elementary School District 165, and Riley Community Consolidated School District 18. The foundation is driven by a belief in one overriding principle: In education, good is never good enough. Nothing short of excellence in education will prepare today’s students for the challenges of tomorrow –challenges they will face in their roles as business owners, employees, and community leaders. The reality of public education has placed budget constraints on our schools. The foundation provides financial support which can make a financial difference between a very good education and an excellent one — in order to bridge the gap between what is, and what can be. Invest in the future of our community by pledging your sport to the foundation. Together, we can fund the future — a future in which we all have stake as a community.
A Lasting Memory
You can make a lasting gift to Marengo-Union area students by including a charitable bequest to the Foundation in your will. There are various ways you can include MASEF in your will. Everyone recognizes the need for a charitable organization to receive gifts to successfully perform its intended function. Most are aware that outright gifts to a not-for-profit organization may be tax deductible. What they may not be aware of is that there are a variety of ways in which a gift can be made which provide additional benefits that may be awarded to the donor. A Bequest is a charitable gift left through a Will.
A Charitable Remainder Trust: a conveyance of assets to a trust which allows the income of an asset to be used during the donor’s life with the balance remaining after the death passing to the charitable institution.
A Charitable Lead Trust: allows a donor to pass immediate income to a charity while passing assets on to an heir at a reduced tax.
Revocable Living Trust: Agreement: a trust that is created for the purpose of avoiding probate and perhaps avoiding the need for guardianship.
Life Estate Agreement: allows for real property to be utilized by the donor during his or her lifetime, with the property passing to the charity or death.
There are also numerous methods of making gifts which provide immediate tax benefits. One such method allows a donor to give assets such a stocks or real estate, with a deduction being allowed for the entire value of the asset without having to pay tax on the increase in the value of the asset. For example, if a stock was purchased for $1.00 and has increased in value to $10.00 and gifted, the donor would receive a charitable tax deduction on the $9.00 of increased value.
A charitable organization can only survive based on donations. Fortunately, there are numerous ways in which a donation can be beneficial to both the organization and the donor. If you have an interest in finding out how to take advantage of these rules, please contact your tax advisor, attorney, or us for further information.
Make a Difference by making a donation
Our charity helps provide annual funds to be used by our local school districts for technology, classroom materials, and other much needed supplies to aid our students learning.
Marengo, IL 60152