Organization: For information purposes, the Clear Lake Community School Foundation and Alumni Association is a nonprofit, tax-exempt entity, that owns the endowments. 100% of each gift/donation goes to our scholarship endowments.
Endowments: By definition, our scholarship endowments are perpetual. We have three defined forms of funds: closed, designated and open funds.
2004 – $712,996.00
Cummings Family Scholarship Fund [Closed Endowment]
Instructions: Annual earnings from investments provide individual scholarships of not less than $1,000.00 nor more than $2,000.00. Criteria for the scholarships are based on a student’s financial need and academic performance evidenced by a student’s cumulative grade point average.
2007 – $100,000.00
Dr. Tom & Janis Joslyn Education Fund [Closed Endowment]
Instructions: The donors hope is multiple scholarships be awarded each year from earnings from investments. Scholarships are to be given to generally “B” and “C” students with participation in at least one extracurricular activity or employment outside of school.
2008 – $134,790.00
Marcia Connell Estate Gift [Designated Fund]
Instructions: These funds are given for the purpose of supporting enrichment programs & activities in the Clear Lake Community School District. The Board of Education of the district is given authority for the use of these funds. The funds may also be used to continue programs and services due to budgetary concerns.
Alumni Scholarship Endowment [Open]
ASE started in August with $22,600.00 in gifts. This “open” fund can accept any size of gift or donation. The “Donor” is eligible for a Federal Tax Deduction. For a State Tax Credit, please refer to the tax authority in your state of residence. For more information, view the Endow Iowa page.
Our goal is to increase ASE to $1 million by 2015 or sooner, with gifts/donations from all quarters & our alumni. Please place our ASE on your “Annual Giving List”. Thank you!