A Chapter Endowment Fund (CEF) is a restricted fund to support the educational activities of a specific chapter. It provides an annual grant to the chapter that can be used for scholarships, educational programs, leadership development initiatives, and for improvements to educational space in the chapter house.
A CEF created by tax-deductible contributions from alumni and friends of Triangle who designate their gifts to a specific chapter. Once contributions to a CEF reach $25,000 or more an annual grant of up to 5% of the fund’s value can be made to support qualified initiatives. A Chapter Endowment Fund allows your chapter to have its own chapter foundation without the cost, administrative requirements, and restrictions on single chapter foundations.Benefits of a CEF include:
·Donations are tax-deductible for the donor.
·All gift processing is handled by the Foundation staff.
·The funds are professionally managed.
·Funds are tracked separately but are pooled for investment purposes.
·All tax returns are filed by the Foundation.
·The funds are audited annually by a Certified Public Accountant
The following chapters have established a Chapter Endowment Fund:
Armour Colorado State Michigan Oklahoma Purdue
Pittsburgh Marquette Ohio State Cincinnati Rose
Penn State MSOE South Dakota Mines
For information on how to contribute to your chapter’s CEF or how to start a CEF for your chapter, please contact Foundation Vice President, Aaron Girson at firstname.lastname@example.org or call (317)203-4510.
The Triangle Education Foundation is pleased to announce the election of three new Board Members.At its recent meeting in Irvine, California, John Gargani pitt82, Dr. Gerald Jakubowski tol74 and Kenneth Condon minn11 were elected to the Foundation’s Board of Directors.
Al Ver ar65, Chairman of the Board stated, “We are thrilled to add John Gargani and Jake Jakubowski as board members to our dynamic and diverse board of directors!The Foundation is lucky to have men who are leaders in their fields, shape the direction of the Triangle Education Foundation.We are also excited to continue having a collegiate member Triangle Fraternity serve on the board.Ken Condon’s experience and passion for the Foundation’s work made him a natural choice to serve in this role.The entire Board is looking forward to working with these gentlemen at our upcoming meeting in Detroit this November.”
John Gargani joins the board with over 25 years in the oil and gas industry.Gargani currently serves at the Vice President and General Manager, Strategy, Performance and Innovation at Southwestern Energy, where he has been on staff since 1993.John and his wife, Melissa, are both University of Pittsburgh graduates and have four children.John and Melissa’s second oldest son, Matthew, is also a member of Triangle Fraternity at University of Pittsburgh.The Gargani’s currently reside in Houston and visit Pittsburgh often.
Dr. Gerald Jakubowski joins the board as the Provost and Vice President for Academic Affairs at California State University, Maritime campus, a position he has held since 2009.A member of the University of Toledo chapter of Triangle Fraternity, Jakubowski earned his bachelors, masters and PhD at Toledo.Jake and his wife, Lynn, are active supporters of the Fraternity and can be found attending or hosting events to raise awareness and money for the Foundation.The Jakubowski’s currently reside in Napa Valley.
Ken Condon joins the board having recently served as the president of the University of Minnesota Triangle chapter.Ken was instrumental in completing housing renovations on time and within budget and raising the overall chapter GPA from a 2.74 to a 3.18.Condon recently completed an internship with Space-X and will complete his electrical engineering degree in 2014.
The IRA Rollover Provision & Triangle Education Foundation
This allows taxpayers over 70½ on or before December 31, 2012 to make tax-free distributions from their traditional and Roth IRAs (Individual Retirement Accounts) directly to charity in 2012 and 2013.
The provision will be made retroactive to Jan. 1, 2012, and will apply to gifts made from that date through Dec. 31, 2013. How does this impact you? Here are a couple of scenarios that may apply:
First, some individuals in 2012 made gifts directly from their IRA custodian to charities with the hope that the law would be retroactive. These gifts are qualified retroactive to January 1, 2012.
Second, individuals who did not make an IRA gift in 2012 can do so during January of 2013. This is similar to 2011, when it was possible to do an IRA gift for the prior year in January and a second IRA gift in the remaining 11 months of the year. If an individual has not made an IRA gift in 2012, this allows a generous person to make two IRA gifts in 2013.
Third, many individuals had hoped to do an IRA gift in 2012, but in December of 2012 received their IRA required minimum distribution (RMD). If these individuals transfer those funds to charity during January of 2013, they will not report the IRA distribution as income. Because the IRA distribution is not included in income, there is not an added charitable tax deduction. Effectively, the gift of cash from your December 2012 IRA distribution converts it into a 2012 IRA gift. But this cash gift must be done during January of 2013.
The law allows you to use funds from your IRA to make a lifetime charitable gift, tax free.
The benefits to you by making a gift this way are:
You may be or about to be receiving minimum distributions from an IRA as part of your retirement income since you turned 70½. You may not need these IRA distributions, but by law you have to take them and pay income tax on them. Under this law, if you transfer those minimum distributions to your favorite charity such as the Triangle Education Foundation, you will avoid paying income tax on them.
Your transfer will not generate a tax deduction, so you do not have to itemize this tax deduction to receive the benefit.
A couple of rules apply:
You are currently aged 70½ or older, or will be on or before December 31st, 2012
You make your gifts on or before December 31st, 2013
Your gifts do not total more than $100,000 per year (thus you have a maximum allowance of $200,000 by December 31st, 2013)
Your funds are transferred directly from an IRA or Rollover IRA
You make your gift to a public non-profit charity (such as Triangle Education Foundation)
Making a gift to the charitable organization of your choice is easy – please contact your IRA custodian for the necessary transfer forms. Please consult your financial advisor for further information pertinent to your own specific circumstances.
And if you would like any further information on the American Taxpayer Relief Act of 2012 and how your gift could benefit the Triangle Education Foundation, please feel free to contact the Foundation's President, Scott Bova, CFRE, via e-mail at SBova@Triangle.org, or call him directly at (317) 705-9803.
In a comprehensive research project started in December of 2007 the Triangle Education Foundation is pleased to say that the years of investments in educational and leadership programs are paying off and changing the lives of young engineers as planned. The research project took over 12 months to complete and is the first step in the formal evaluation process of the various programs the Foundation funds each year.
In cooperation with the Fraternity the Foundation hired Dr. Tom Jelke, an expert in higher education assessment, to provide quantitative and qualitative assessment of its programs and participants since their inception in 2001. Both the Fraternity and Foundation were enormously pleased with the final results.
The results of the data analysis indicate that the leadership programs are meeting or exceeding the vast majority of their desired outcome goals when it comes to providing participants with the leadership skills needed to run and elevate chapter programming. Participants believed their Triangle leadership training experiences made a significant contribution to their development as leaders during college, and after college - in their workplaces and communities.
While Triangle saw great numbers in the statistics it also spotlighted one area that needs additional attention. One of the major goals of the programming is to provide an increase in citizenship and community involvement we found that there was a very slight lack of connection in the programming and the intended outcomes. This information has been very valuable as Triangle continues to refine and improve its offerings.
But the bottom line is that we are hitting the mark on helping Triangle members excel as leaders with character and integrity. A highlight of the report is an observation Dr. Jelke made in his report: Triangle Fraternity's results, specifically when it comes to perceived leadership development impact, are among some of the best we have studied. These results indicate that you are hitting the targets when it comes to producing desired leadership development outcomes. Those outcomes also seem to persist beyond a participant's time in college.
We have a lot to be proud of and hope to use this information to continue to improve and build new programs that will make life long impacts on young men in the field of engineering, architecture and science. As always our success is due to the strong support we receive each year from all the alumni across the country.
To read a full version of the report, please click here to download a copy.