Frequently Asked Questions
Below are some questions that are frequently asked about the KML Foundation. If you have another question
that you do not see below, please email your questions to Paul Snamiska, Estate and Deferred Giving Counselor, at firstname.lastname@example.org
What is the KML Foundation's legal name and tax ID number?
Kettle Moraine Lutheran High School Foundation, Inc.
What is the KMLHS Foundation?
The Kettle Moraine Lutheran High School Foundation, Inc. is a unique charity that exists to support Kettle Moraine Lutheran High School. It has been established to:
Are donations to KMLHS Foundation tax-deductible?
In most cases, yes, donations to the KMLHS Foundation are tax-deductable. As a 501(c)(3) charitable organization, the KMLHS Foundation is qualified to receive tax-deductible donations. A receipt will be issued promptly after your donation is processed. Please note that if you are setting up a repeating monthly or quarterly donation, your receipt will be sent in January of the following year.
May I give stock?
Yes. Doing so may allow you a tax deduction of the entire current value of the stock while avoiding capital gains taxes. Consult your broker about stock transferred as a charitable gift. The process for donating stock is simple. Contact Paul Snamiska for details.
Can I give gifts to the KMLHS Foundation over several years?
Of course! You can contribute at any time. One-time gifts and on-going commitments are always appreciated and meaningful.
What types of contributions can be made to the KMLHS Foundation?
The Foundation is able to accept a wide variety of contributions including:
I'm not sure how much to give. Is there a minimum?
There is no minimum amount for a gift - it is a personal decision. Every gift is meaningful to the Foundation regardless of size. The participation in building something great together is truly appreciated.
When is the best time to give?
Donations to the KMLHS Foundation can be given at any time. All gifts will make a lasting impact regardless of the timing!
How do I know the Foundation will use my donation for the intended purpose?
The KMLHS Foundation Board of Directors is guided by its established investment and distribution policies as well as the specific donor's intent. The Foundation Board does not write a blank check to the high school. Instead, the Foundation Board makes a commitment to provide funds for tuition assistance and specific projects or programs based on the recommendations of the Board and the intent of the donors as expressed in their estate gift instructions. Donors should meet with KML's Estate/Deferred Giving Counselor, Paul Snamiska (email@example.com), in advance of restricting a gift to ensure the donation will meet the requirements of the Foundation as well as the donor's wishes.
Can I give anonymously
There is no KMLHS Foundation without donors. Every donor makes a difference, and each gift deserves to be acknowledged. However, you can give anonymously by noting it on your donation. We will honor your request.
What are the steps the KMLHS Foundation takes to process a contribution?
Donations to the KMLHS Foundation are accepted by the KMLHS Foundation Board. Upon acceptance, the money will be invested in an account that is managed by the Board, and a gift receipt will be issued to the donor or the donor's estate.
What is an endowed scholarship?
An endowed scholarship is a donor-restricted gift of at least $10,000 that is established for a specific purpose. The gift is invested and managed through the KMLHS Foundation. An annual distribution from the endowed scholarship is used to provide funding for the specific use as identified by the donor. Through the KMLHS Foundation, an individual, family, or congregation can establish an endowed scholarship, such as the Smith Family Memorial Scholarship Fund or the St. John's Scholarship Fund. Endowed scholarships can be established with current gifts or estate gifts (wills, trusts, beneficiary designations on retirement accounts, insurance policies, etc.)
Why give an endowed scholarship?
The KMLHS Foundation's endowed scholarship program has grown because of donors' interest to educate, encourage, and equip future Christian leaders. Creating an endowed scholarship is an opportunity to recognize a loved one, family, or business. All students who receive a named scholarship are made aware that others share a commitment to their education, and are given an opportunity to meet the donor when possible.
How much money does it take to establish an endowed scholarship?
Although gifts of any size can be contributed toward general tuition assistance, a named endowed scholarship that will provide an annual award requires a minimum gift of $10,000. Annual distributions are typically 5% of the fund's balance. The principal remains in the fund and ideally will grow over time, which corresponds to larger annual distributions.
Does the KMLHS Foundation Board of Directors receive compensation?
No. The KMLHS Foundation does not financially compensate its Foundation Board members. The Board members not only donate their time and talent to the KMLHS Foundation, but also donate a measure of their treasure. The motivation to serve on the Foundation board is based on their commitment and dedication to the gospel ministry of KMLHS.
Who can I contact when I have questions?