Scholarship Endowment Fund Managed for Generations to Come
Nancy McCluskey-Moore
Since 2001 SaddleBrooke Community Outreach (SBCO) has been granting two- and four-year college scholarships to deserving students in the Copper Corridor, an area that stretches 100 miles from Catalina to Miami, Ariz. Annually SBCO allocates some of its general fund to granting new scholarships and to supporting scholarships granted in prior years. In 2019, the SBCO board of directors established a scholarship endowment fund so in the future, more scholarships for undergraduate and graduate students could be granted without taking money from other SBCO programs.
Most smaller nonprofits use a professional investment management team to provide administrative support for their endowment funds. SBCO reviewed various contenders for this role. Key criteria included:
* Solid reputation for fiscal responsibility
* Reasonable service fees
* Local presence for prompt service
* Ability to restrict scholarships to “Copper Corridor” students, per SBCO policies.
SBCO chose Community Foundation for Southern Arizona (CFSA), a 501(c)(3) nonprofit organization, to manage its endowment fund. CFSA was founded in Tucson in 1980 and has managed more than $200 million in grants over the past four decades. CFSA receives donations designated for the SBCO Scholarship Endowment Fund and invests them. Only the earnings on the fund’s donations are used to support the scholarship program so the fund’s principal lasts in perpetuity. Even if SBCO should cease to exist, endowment fund donations will be used to fund scholarships for generations of students.
All contributions to the endowment fund must be made payable to the Community Foundation of Southern Arizona (CFSA) and designated for the “SBCO Scholarship Endowment Fund.” (CFSA’s Tax ID is 94-2681765.) This ensures donations are legally separated from SBCO general funds, properly processed, and the donor receives acknowledgment. The minimum contribution to the fund is $5,000.
Tax-deductible donations can be made any of three ways:
* A personal check sent directly to CFSA, made payable to Community Foundation of Southern Arizona with “SBCO Endowment” in the memo line.
* A distribution from your IRA to CFSA for the SBCO Scholarship Endowment Fund. (Consult your tax advisor for potential tax benefits.)
* Include CFSA as the manager of the SBCO Scholarship Endowment Fund as a beneficiary in your trust or estate plan.
Only monetary or in-kind donations valued at $5,000 or more are accepted for this fund.
Donations must be sent to:
The Community Foundation of Southern Arizona
SBCO Scholarship Endowment Fund
5049 E. Broadway, Suite 201
Tucson, AZ 85711
For more information about the SBCO Scholarship Endowment Fund, send an email to [email protected] or call the SBCO office at 520-825-3302.
A volunteer helped students select books, along with new school clothing, to take home from a visit to Kids’ Closet in Mammoth, Ariz.
Volunteers to Help Local Students Succeed
Nancy McCluskey-Moore
SaddleBrooke Community Outreach (SBCO) was founded in 1997 to meet the needs of children living in the 11 current and former mining communities in the “Copper Corridor” stretching 100 miles north of Catalina, Ariz. SBCO’s mission of providing children with opportunities to succeed is realized through programs that focus on food, clothing, and education. As an award-winning 503(c)(3) nonprofit, SBCO has been making a significant difference in the lives of local children and their families for nearly 25 years.
Like most nonprofits, SBCO relies on an army of more than 300 volunteers to implement our programs. We need volunteers to assist in the following areas:
Kids’ Closet: help children from Head Start through eighth grade select new school clothing.
Teen Closet: assist eligible students on a school clothing shopping trip at local stores.
Education Enrichment Committee: review and select funding grant requests from schools and community organizations.
Scholarship Committee: review scholarship applications, select recipients, and follow the progress of students
Food: secure community financial support and donations of goods for the Food Drive and Thanksgiving and holiday food baskets.
Special Events Committee: help organize and staff the annual Home Tour and Walkathon.
Scholarship endowment: seek donations for the college scholarship endowment fund.
Adopt-a-Family/Adopt-a Child: help shop for, wrap, and deliver gifts to tri-community families (Adopt-a-Family) and children living on the Apache reservation (Adopt-a-Child).
Office staffing: provide administrative services for the SBCO office in Suite L of the SaddleBrooke Business Plaza.
Donating your time and talent clearly helps those who receive assistance from SBCO. But did you know that you also benefit from being a volunteer? Various studies have found that volunteering:
* Is good for your mind and body. Volunteering can make you feel healthier, improve your mood, increase your sense of purpose, keep you mentally stimulated and reduce your stress level.
* Helps you connect with others. Volunteering helps build connections with others, including those you assist. These connections make you part of a larger community and keep you engaged in making it a better place to live.
* Brings fulfillment to your life. Volunteering is also an enjoyable and easy way to explore your interests and passions. When you are involved in meaningful and interesting activities, volunteering can provide a relaxing, stimulating change from your day-to-day routine.
SBCO always needs volunteers for both long- and short-term commitments. To become involved, visit community-outreach.org/volunteers to complete an interest form. We’d love to have you join our team!
20 Scholarships to College-Bound Students
Nancy McCluskey-Moore
Each year, SaddleBrooke Community Outreach’s (SBCO) Education Committee receives applications from local high school seniors for college scholarships. After the applications are received, committee members review each student’s financial situation, high school transcript, activities, an essay about personal and professional goals, and letters of recommendation. Committee members usually conduct a personal interview to select the scholarship recipients (this practice was suspended during the pandemic). This year, the committee received 29 applications and awarded 20 scholarships. Seventeen were for four-year degrees and the remaining three were for two-year degrees.
Scholarships were given to students attending the following high schools:
Canyon del Oro in Oro Valley: 1 scholarship
Manuel High School: 5 scholarships
Hayden High School: 3 scholarships
Miami: 5 scholarships
Ray in Kearney: 5 scholarships
Superior: 1 scholarship
Scholarship recipients have indicated that they will be attending the following schools this fall:
* University of Arizona: 7
* Northern Arizona University: 5
* Arizona State University: 4
* Western New Mexico University: 1
* Central Arizona Community College: 2
* Paradise Valley Community College: 1
* Mesa Community College: 2
One scholarship recipient has indicated he/she will not be attending college this fall and another’s school selection is pending.
Students attending two-year colleges receive a $1,500 per year scholarship while those attending four-year institutions receive $3,000 per year. If a student earns a minimum 2.0 GPA while registered as a full-time student with a minimum of 12 credit hours per semester, the scholarship continues until a two- or four-year degree is completed. If a student’s tuition and other expenses are otherwise covered, SBCO will pay for other school-related expenses to offer the maximum benefit from the scholarship. If a student receiving a two-year degree wishes to continue in a four-year program, a second $3,000 a year scholarship may be awarded.
This year the Education Committee set aside additional funds for graduate school scholarship applicants and “second chance” students. Students in the latter category have previously failed to meet the requirements to keep their scholarships but would like the opportunity to try again. Because students who graduate from very small schools often find it challenging to adapt to a large college campus, SBCO has given some students the opportunity to regain their scholarship funds to continue their education.
Betsy Lowry models her “bee-utiful” Halloween costume selected from the Golden Goose Thrift Shop’s inventory.
Save the Date: SBCO Fall Meeting to Feature Golden Goose Fashion Show
Nancy McCluskey-Moore
The SaddleBrooke Community Outreach (SBCO) Fall Kick-off General Meeting, which includes the popular Golden Goose Fashion Show, will be held at 3:30 p.m. on Monday, Oct. 11, in the MountainView Ballroom. It’s a great chance to learn about SBCO’s programs to provide food, clothing, and educational opportunities for local children—and see some “cheap chic” clothing.
Throughout the year, Golden Goose Thrift Shop volunteer Betsy Lowry culls through clothing donations to find runway-worthy items for this fashion show. Clothing and coordinating accessories, from casual to formal wear, are selected for quality and style in order to display some of the best items available to the store’s shoppers. Betsy also recruits volunteers who are willing to serve as runway models, some of whom also bring their sense of humor to the occasion.
Plan now to attend this very popular annual event!
Karin and Jeff Roby are pleased to be able to support the academic dreams of local students through the SBCO Scholarship Endowment Fund.
A Gift of Education Changes Lives Forever
Ron Andrea
Jeff and Karin Roby moved to SaddleBrooke in 2001 from Discovery Bay, Calif., after they had both retired. As a University of Arizona graduate, Karin was familiar with Tucson, and the prospect of year-round blue skies and golf appealed to both of them. Karin worked for the State of California Employment Development Department for 35 years. Jeff, after spending six years as an active-duty Navy officer, retired as CEO of a small healthcare company.
Karin and Jeff enjoyed reading the personal stories of the many students who have benefitted from the SaddleBrooke Community Outreach (SBCO) Scholarship Endowment Fund and they both decided it was time to step up and contribute. “We appreciate that we were able to finish college with no debts and are fortunate that we are able to help local students pay at least part of their tuition,” they said. “Working 35 years in employment services certainly proved to me the value of higher education and advanced technical training,” Karen added. They not only like the aspect of helping local students but, knowing that SBCO is an all-volunteer organization, they also know that all of the money they contribute goes toward its intended purpose. Finally, the fact that only the earnings on their contribution are used to provide scholarships, they know that their contribution will continue to help students for generations to come.
If, like Karin and Jeff, you would like to leave a lasting educational legacy for local students, consider making a donation to the SBCO Scholarship Endowment Fund. Donations to the endowment program are professionally invested by the Community Foundation of Southern Arizona (CFSA). Tax-deductible donations can be made in any of four ways:
* A personal check: sent directly to CFSA and made payable to Community Foundation of Southern Arizona with “SBCO Endowment” in the memo line
* A distribution from your IRA to CFSA for the SBCO Scholarship Endowment Fund
* Include CFSA, as the manager of the SBCO Scholarship Endowment Fund, as a beneficiary in your trust or estate plan.
* In-kind donations of real property such as real estate, an automobile, or stocks and bonds.
Only monetary or in-kind donations valued at $5,000 or more are accepted for this fund. Consult your tax advisor about the potential tax benefits of any donation.
Donations must be sent to:
The Community Foundation of Southern Arizona
SBCO Scholarship Endowment Fund
5049 E. Broadway, Suite 201
Tucson, AZ 85711
For more information, contact Ron Andrea at [email protected] or call the SBCO office at 520-825-3302. You can also visit the SBCO website at community-outreach.org.