Our Chapter is recognized and organized as a 501(c)7^ business entity.
The IRS identifies many categories of tax-exempt organizations, including 501(c) code sections 2-27. These categories encompass organizational purposes from mutual insurance to farming coops to cemetery associations. (More here than you wanted to know!)
Our classification (in one of three subgroups) of 501(c) groups, makes up the bulk of all non-501(c)(3) organizations. We are able to obtain our federal income tax exemption but your support can't be recognized as a charitable contribution for federal income tax purposes.The IRS asks that we acknowledge this fact.
We know many brothers do give, just not because a tax benefit is involved.
All Gifts to the chapter are appreciated and acknowledged for the intention of which these gifts provide to the chapter and it's efforts.
Social and Recreation Clubs
Organized for recreation, pleasure, social activities and other similar nonprofit purposes. These organizations include college fraternities or sororities, country clubs, hobby clubs, garden clubs, etc.
Monmouth College and Sigma Phi Epsilon Fraternity (National) are 501(c)(3) entities and are eligible to accord tax advantaged deductions, should you qualify.
Talk with your Investment Advisor regarding planning in 2011 for the qualified charitable distribution (QCD) provisions which was renewed for 2010 and 2011, allowing IRA owners, age 70½ or over, the option of transferring tax-free up to $100,000 to qualified charities. (The closing date for 2010 was Sunday, January 31, 2010.)
The excluded amount can be used to satisfy any required minimum distributions that the individual must otherwise receive from their IRAs for 2011. The deadline for making a 2011 QCD is January 31, 2012. The election to treat a January 2012 QCD as having been made in 2011 is made by including the QCD on the individual's 2011 income tax return.
Gifts to Monmouth College and Sigma Phi Epsilon are most appreciated. You don't actually take a withdrawal from your investment; but have your broker call either MC or SPE for broker account information to transfer the asset directly. Write or call Steve Ehrhart, president of our AVC about your intention to initiate a qualified charitable distribution and he would be happy to assist you.
No upcoming events...
Every brother has a personal experience of coming to the aid of another brother. Today is no different. We invite you to support Sigma Phi Epsilon at this important time. Resources are tight to fulfill the opportunities presented to us. By earmarking your gift, the traditions of SigEp will continue to serve, benefit and honor these men, whom we call brother! Join us today!
Brothers or families who provide a gift will receive a T-shirt honoring your ties to Sigma Phi Epsilon!
Thank you in advance,
AVC of Illinois Gamma Chapter of Sigma Phi Epsilon
A Gift in Your Will: Getting Started
We hope you'll consider including a gift to our chapter's benefit in your will or living trust. Called a charitable bequest, this type of gift offers these main benefits:
Simplicity. Just a few sentences in your will or trust are all that is needed. The official bequest language for Monmouth College to share with your attorney is:
"I, [name], of [city, state ZIP], give, devise and bequeath to Monmouth College* for the benefit of Sigma Phi Epsilon Alumni Association's Endowment Fund of [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.
Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift's full value.
Decide how you would like our chapter to use your gift.
A restricted bequest allows you to specify how we are to use the funds. Depending on your intention, this could be used as an immediate funding priority (as a one time, complete expenditure in the year of the gift.)
An endowed bequest allows you to restrict the principal of your gift (invested into the endowment of the College) so we can use only a small portion (residual of earnings drawn) each year, allowing the fund to last forever.
Contact us in advance to be certain your intent can be fulfilled.
* Gifts may qualify under 501 (c)3 entities for tax qualified purposes include Monmouth College or our National Headquarters. Our chapter is classified as a 501(c)7 under IRS classification regulations and conducts activities as a not for-profit business; yet doesn't qualify for charitable benefits under 501(c)7 statute.
Gifts to Monmouth College to benefit Sigma Phi Epsilon:
Molly Ball, Vice President
Office of Development and College Relations
700 East Broadway
Monmouth, Illinois 61462
Memo Line: Sigma Phi Epsilon Alumni Association Endowment
Purpose: Your investment in support of our chapter will accord you a possible tax-advantaged charitable gift benefit to our Sigma Phi Epsilon Alumni Association endowment account at Monmouth College. This check should be mailed by you directly to MC - add a letter instucting their staff to notify us of your gift decision (you can exclude the dollar amount) in support of the chapter. Otherwise, the AVC and the Chapter won't be aware of this intention as rules prohibit releasing the names of donors to the chapter due to privacy reasons. A gift receipt will be issued by the college for your charitable contribution.
Send us a note indicating you forwarded a gift supporting our endowment! Don't worry, you don't need to tell us the value of your gift. We'd like to send a letter of thanks!
Gifts to National:
Sigma Phi Epsilon - National Fraternity (Richmond, VA)
Sigma Phi Epsilon Headquarters
P.O. Box 1901
Richmond, Virginia 23218
Memo Line:Earmark specific intention to the following chapter Endowment Accounts (under Illinois Gamma)
E. Paul Suhs Scholarship
Virgil Boucher Leadership Awards
Virgil Boucher Balanced Man Scholarship
Purpose: Your investment in Sigma Phi Epsilon Fraternity will accord you a possible tax deductible gift benefit at Sigma Phi Epsilon. This check will be invested in the identified account above into the endowment at Sigma Phi Epsilon Fraternity. Earnings will be paid out annually to a selected candidate within our chapter. The National office will accord you (directly) a gift receipt.
Our chapter isn't advised when benefactors provide a gift to one of our endowment accounts because of privacy reasons. We invite your notifying us to allow a personal thank you in support of these scholarships.
Gifts are welcome to the chapter through our AVC account. Each and every gift, irrespective of size and scope helps tremendously, and provides the greatest advantage when invested to benefit unrestricted chapter operations.
Our chapter by its incorporation as a 501(c)7 doesn't qualify under U.S. tax laws to accord you charitable gift advantages. (See information to the left.) We are also prevented to transfer your gift from our account (on your behalf for tax advantaged gifting) to Monmouth College or Sigma Phi Epsilon National Fraternity.
Our merchant account will accept all major credit card payments to our account. We incur a small fee for transaction charges, so if you prefer, your personal check can be written to Sigma Phi Epsilon, Inc - Illinois Gamma and mailed to this address:
Stephen Ehrhart '77
President, AVC (Alumni Volunteer Corporation)
809 W Archer Avenue
Monmouth, Illinois 61462
www.contactify.com/6f927 (e-mail contact)
Does your company provide matching gifts? Check with your HR or employer for details.