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IMPACT INSIDE THIS EDITION

• Golf Classic Recap

• Gifts That Keep Giving

• Brick Dedication

• ECC Foundation Board Member Spotlight

• Distinguished Alumni: Call for Nominations

• Scholarship Recipient Spotlight

Lamp Construction Legacy Provides Gateway to Learning In March, Elgin Community College dedicated a beautiful new health and life sciences building that will serve as the college’s front door for new students and visitors. Named Building A, this is also the space that the Lamp family and members of their firm built­—beam by beam, brick by brick—into a state-of-the-art center for teaching and learning. Thousands of students, faculty and community members will enter these doors as they continue their educational journey at ECC. At the building’s dedication, the Lamps announced a $150,000 gift to the college from Lamp Construction that will have impact even beyond this beautiful new structure. Lead by Ian Lamp (Vice Chair of the ECC Foundation Board of Directors), Craig Lamp, and Steve Lamp, the firm’s gift to the ECC Foundation will support an endowed scholarship for academic and

leadership excellence. Their generosity will provide an infinite source of scholarship awards for generations of promising ECC students to come. “We feel it’s important to be part of the college, part of this building, and part of its legacy,” says Lamp Incorporated president Craig Lamp. “Long after we’re here, this gift will still be providing opportunity for students.” “Both of our spouses are in the medical industry,” indicates CFO Steve Lamp referring to himself and Craig, his cousin. “Being able to construct this space and now support students through the gift of education is really special to us.” Aljon Ferrer is an excellent example of the caliber of student that will receive scholarship support from the Lamps’

Senior executive representatives of Lamp, Inc. during Grand Opening ceremonies for the Building A (from left to right): Steve Lamp, CFO Lamp Inc.; Craig Lamp, President Lamp Inc.; and Ian Lamp, ECC Foundation Board member and Lamp, Inc. VP of Marketing & Sales

investment in the future. Having immigrated to the United States from the Philippines as a child, he graduated in the top 11 percent of his class at Streamwood High School. A recipient of two ECC and ECC Foundation scholarships based on his high academic achievement, Ferrer is the first in his family to attend college and is focused on his goal to become a registered nurse. “Nursing is my definition of the perfect job. I know that I will have a successful career with the right education and believe that ECC embedded passion, responsibility, and willingness to learn in my heart and soul. I’m extremely positive about the future.” In honor of the firm’s gift, the lobby area of Building A, the new health and life sciences building, has been named the Lamp Construction Gateway.

Students work at computers in the Lamp Construction Gateway in Building A.

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Executive Director’s Letter Dear Friends, Welcome to the second issue of IMPACT, the Elgin Community College Foundation’s quarterly update to share the impact you are making through your investment in ECC students and programs. We’ve designed the publication to be insightful and inspirational, and welcome your feedback to assess if we’re hitting the mark. Our schedule for future issues is as follows: • • • •

Spring­—mid-April Summer—mid-July Fall—mid-October Winter—mid-February—the ECC Foundation annual report published in conjunction with the college’s Community Report publication.

As the college celebrated 1,400 new graduates at May commencement and moved into the summer semester, the work of the foundation has been focused on raising funds through our annual golf outing and partnering with our Financial Aid Office to prepare for 20122013 scholarship awards. The board of directors has been hard at work updating matters of policy, welcoming new officers, and adding new directors and directors emeriti to their ranks. We look forward to sharing this and more in the pages that follow. My genuine thanks to you for the impact you are making to change lives through learning at Elgin Community College. All my best,

Katherine Sawyer Executive Director, Institutional Advancement and ECC Foundation

Call for Nominations­—2013 Distinguished Alumnus Award The purpose of the Distinguished Alumnus Award program is to recognize the accomplishments of notable alumni who have attended Elgin Community College and raise awareness of the outstanding achievements of former ECC students.

demonstrated achievement of an exceptional nature, shown professional excellence within his/her chosen field, and made a positive impact on his/her community, please consider nominating them for the 2013 Distinguished Alumnus Award.

If you, or someone you know, has attended Elgin Community College,

For more information, a complete list of criteria, and to submit a nomination,

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please visit elgin.edu/eccalumni, send an email request to eccalumni@elgin.edu, or call the Alumni Relations Office at 847-214-7746. The deadline for submission of completed nomination forms is Friday, September 28, 2012 at midnight CST.


“Pathway to Knowledge” Brick Dedication The “Pathway to Knowledge” Brick Campaign is off and running as a group of engraved bricks was installed and dedicated on May 8. The bricks will serve as an inspiration to the students who walk the paths and enjoy the courtyard of Building C.

Clayton Haldeman of Kluber Architects & Engineers is pleased with the brick that he and his wife purchased on behalf of their family.

At the dedication ceremony, David Sam, PhD, JD, college president, gave a welcome followed by Robert McBride, EdD, chairman of the Community College District 509 Board of Trustees, who dedicated the bricks. Jerry Turnquist, ECC alumnus from 1967, gave an inspirational speech about what his time at ECC meant to him. In addition to the new bricks that were dedicated, there was a re-dedication of 158 bricks purchased in support of the “Build a Vision” Brick Campaign from 1989 during the college’s 40th anniversary celebration. These bricks were purchased to provide funds to make Alumni Court a reality and located there for the past 20 years. When the new building and renovations started on campus in 2009, these bricks were removed and preserved until their new location was ready in the beautiful new library courtyard, Building C. This location is the heartbeat of campus as its pathways lead to a multitude of learning experiences. We now have 250 engraved bricks that commemorate a student’s time at ECC, celebrate his or her accomplishments, honor someone special, or remember a graduate. There is still room for more! To order your brick, please visit elgin.edu/eccalumni. For further information, email eccalumni@elgin.edu, or call the Alumni Relations Office at 847-214-7746.

David Sam, PhD, JD, ECC president, addresses audience during the Brick Dedication ceremony.

ECC employee (and tap dance enthusiast) Lonnie Keeler celebrates her brick “BAM! We all got rhythm!”

Brick Dedication attendees and supporters including ECC employees, past and present ECC Board of Trustees members, ECC Foundation directors, and other members of the community at large.

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2012 Golf Classic Over 144 golfers and 165 dinner guests attended the ECC Foundation’s 14th Annual Golf Classic held on Monday, June 18 at the St. Charles Country Club. Activities for the day began with a buffet lunch and silent auction at 11 a.m. The main event, a scramble shotgun tee-off, started promptly at noon. After a full afternoon on the golf course, guests returned to the clubhouse for the evening’s reception, awards dinner, and live auction. A special highlight of the evening was the dinner program which featured two scholarship recipients—Matt Allison and Julie Lobocki. Almost every golfer in the room met Matt earlier in the day when he served as the “pro” student golfer to beat on the ninth hole. Julie volunteered the entire day as well­—first helping to set-up and manage the auction items and later in the afternoon at one of the contest holes on the golf course. Both Matt and Julie shared with the dinner guests several significant moments in their experiences as ECC students. The audience was captivated by the pair as they talked about how their parents had always instilled in them an uncompromising commitment to excellence and the attainment of a “good” education. Each of them then reflected upon the significance of ECC as a milestone on their journey for excellence and a great education.

ECC Foundation 2011-2012 scholarship recipient Julie Lobocki addresses dinner guests.

Under the leadership of chair Paul Dawson, ECC managing director of construction, and vice-chairs John Kluber, partner in Kluber, Inc., and Bob Werderich, owner of the Illinois Aviation Academy, the planning committee reported the golf classic was sold out with a record $115,000 raised to support student scholarships, enhanced instructional programs, and other areas of greatest need to enable student success. Marc Konny and Robert McBride, EdD, ECC Board of Trustees Chair

ECC Faculty Association foursome (from left to right): Luis Martinez, MD, Roger Ramey, Manuel Salgado, Sue Ford

One of two Kluber Architects and Engineers foursomes including far right, John Kluber, partner, and second from right David Sam, ECC president

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Paul Dawson, ECC managing director of construction and 2012 Golf Classic committee chair.

IHC Construction Companies Masters Sponsor foursome (from left to right): James McDonough, IHC director of business development; Melissa Tait, ECC senior director of business services; Sean Stegall, city manager-Elgin,

First place foursome from St. Charles Bank and Trust

Silent auction display during dinner reception

14th ANNUAL GOLF CLASSIC SPONSORS Genuine thanks to the support of the following firms and individuals: Masters Sponsor

Dinner Sponsor

U.S. Open Sponsors

Lunch Sponsor

IHC Construction Companies, LLC Affiliated Systems, Inc. Constellation Energy Kellenberger Electric Inc. Shales McNutt Construction WET Solutions, Inc.

Golf Cart Sponsors DLA Architects, Ltd. Kluber Architects and   Engineers, Inc.

LeaderBoard Sponsors EFS Foundation Lamp Incorporated

PGA Sponsors

Advance Electrical Supply Co. Associated Electrical Contractors Automated Logic Chicago Dewberry Architects Inc. Illinois Aviation Academy and   McGrath Honda of St. Charles KJWW Engineering Consultants Lundstrom Insurance Plumbers and Pipefitters Local 501 Sikich LLP St. Charles Bank and Trust Company,   A Wintrust Community Bank Tandus Flooring

Recognition Sponsor

Kahler Slater, Inc.

Community College District 509   Board of Trustees

Putting Green Sponsor

EcoEnergy, LLC

Thermosystems, Inc.

Hole Sponsors

Driving Range Sponsor

Applied Communications Group Automated Logic Chicago Dewberry Architects Inc. Doherty Construction, Inc. KI Kroeschell, Inc. S.G. Krauss Co. Sound Vision, Inc. Speer Financial Inc.

Daily Herald Media Group

Contest Hole Sponsors Constellation Energy Lundstrom Insurance

Tee Box Sponsor

Absolute Fire Protection, Inc. Affiliated Systems, Inc. Carey Electric Contracting, Inc. Fox Valley Building and   Construction Trades Council Elgin Trade Council Hampton, Lenzini and   Renwick, Inc. Lundstrom Insurance McQuay International PMA Financial Network Total Home Health

19th Hole Sponsor

Kovitz Investment Group, LLC

Scholarship Sponsors

Break Thru Enterprises, Inc. Caren and Dale Nickelsen Early, Tousey, Regan, and Wlodek Hargrave Builders, Inc. Hartwig Plumbing & Heating, Inc. Oosterbaan & Sons Co. Premier Mechanical, Inc. Sullivan Roofing Trane

Snack Cart Sponsors

Ace Coffee Bar Dewberry Architects Inc. Serigraphics Sign Systems, Inc.

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Volunteer Polo Shirt Sponsor Richard and Cindy Green

Additional Supporters

Amber Mechanical, Inc. BSC Private Wealth   Management, LLC Bornquist Elgin Community College   Faculty Association G. C. Masonry, Inc. Gourmet Kernel Integritas Systems LLC Interiors for Business, Inc. Janelle Crowley Metalmaster Roofmaster PMA Financial Network River Valley Land   Improvement Co. The Mohawk Group Wills Burke Kelsey Associates, Ltd.


New Scholarship Funds Established for ECC Students The Elgin Community College Foundation currently offers over 125 scholarships for students each year thanks to the generous investment of donors. Students receive financial support in a variety of categories, including: • Academic and leadership excellence • Career areas of study • Overcoming obstacles • Financial need A foundation scholarship award can cover tuition, fees, and a book stipend for one or many ECC students. We are proud to announce the following new scholarship funds.

Elgin Elks Lodge Scholarship for Health Careers The Elgin Elks Lodge 737 has established a scholarship aimed at providing financial assistance to two full-time ECC students who have completed at least 24 credit hours of collegelevel work in a health-related curriculum. The scholarship also places an emphasis on above average academic performance as students must have a 3.0 GPA or better. The scholarship awards will be available to help cover students’ tuition, books, and fees. The Elks USA website reports that Elks Lodges across the country invest in their local communities through programs that help children grow up healthy and drug-free, by undertaking projects that address unmet need, and by honoring the service and sacrifice of veterans.

Mary Kae Hoffmann Scholarship for Nursing Jean Saylor and Jacqueline A. Stashwick, on behalf of a cadre of over 300 volunteers in the Provena St. Joseph volunteer program network, have established a new scholarship fund in honor of Mary Kae Hoffmann. A recently retired staff member from Provena St. Joe’s, Mary Kae is beloved by the volunteers as a very compassionate and caring individual. The scholarship will support nursing students from St. Edwards High School with a GPA of 3.0 or better and financial need.

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ECC Foundation Scholarship Recipient Spotlight Brea Cabezudo Brea Cabezudo is a resident of Elgin and a graduate of Elgin High School. This past spring she graduated from ECC’s highly esteemed and competitive nursing program with an Associate of Applied Science Degree. While attending ECC, Brea maintained a full-time course load most semesters, including summers, and worked part-time at Sherman Hospital for the past four years. Throughout her time at ECC, Brea consistently maintained an above average GPA which earned her a place on the Dean’s List for several semesters, as well as membership in Phi Theta Kappa, a distinguished international academic honor society for two-year college students. In addition to the rigors of her classroom studies and parttime employment, Brea’s extracurricular activities were plentiful. She was elected into and assumed various active leadership roles on campus including those of fundraising coordinator and vice president of the ECC chapter of the Association of Nursing Students, member of the College Programming Board and Amnesty International, in addition to volunteer work at Little Angels, a long-term care facility for children with disabilities, and her Phi Theta Kappa activities. Brea Cabezudo, ECC Foundation scholarship recipient

Brea’s commitment to academic excellence and selfless service to others, earned her the utmost respect of her instructors and peers. Members of ECC’s faculty have cited her as “…distinguish[ing] herself as a bright, respectful, inquisitive and energetic scholar who is earnest about her studies…and other students look to her for guidance.”

The ECC nursing program provides high quality nursing education leading to careers as a registered nurse and a licensed practical nurse. The program moved last January to an all-new, state-of-the-art health and life sciences facility, Building A, where students utilize a wide variety of simulation equipment to master practical and invaluable skills. Nearly 120 students are accepted each year to ECC’s nursing program. The majority of these students are adult learners interested in changing careers, reinvesting in their education, or seeking to advance in their medical career. Most hold full- or part-time jobs while working through the challenging curriculum; and may even be the first to attend college in their family. ECC nursing students gain practical experience through hands-on training at one of our many clinical partners in the community. Graduates are well prepared to meet demands of quality and compassionate patient care, as evidenced by 96 percent who pass the national licensing exam on their first try.

She’s a past recipient of two scholarships from the ECC Foundation – the Jack and Marlene Shales Endowed Scholarship for nursing students, and the Sherman Health Foundation Nursing Scholarship. As she prepares to transfer to the University of Illinois-Chicago’s Bachelor of Science program in nursing within the coming year, after completing a couple of additional prerequisite courses, she reflects upon what she has enjoyed and treasured most about her time at ECC. She states, “…although my grades were good in high school, I was able to do better at ECC because I was in a nurturing environment where the instructors truly care about their students.” She continues, “ECC cared; I wasn’t ‘just’ a student and a face.” When asked why and how she did it, she responded, “Drive. At times I wanted to say ‘I can’t do this anymore’ but I knew I started this program for a reason. I wanted a better life for me…and my dog,” interjecting a little humor. “I worked hard in high school but not as hard as I should have. [ECC] gave me an opportunity to work harder and do something great.”

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Spotlight on ECC Foundation Board Member Jennifer Betancourt, AIA, LEED AP BD+C Jennifer Betancourt is a licensed architect with Dewberry Architects, Inc., located in downtown Elgin, where she has worked as a project manager since 2006. She is a member of the American Institute of Architects and holds accreditation with the United States Green Building Council as a Leadership in Energy and Environmental Design (LEED) Accredited Professional with specialization in building design and construction. She was the lead architect for the recently completed ECC Academic Library and Learning Resources and for the ongoing renovations to the Student Resource Center which will reach completion at the end of 2012.

ECC Foundation Board of Directors member Jennifer Betancourt

Betancourt is a graduate of the University of Arizona in Tucson where

she earned her Bachelor of Architecture degree from the College of Architecture and Landscape Architecture. She studied architecture internationally at La Universidad LaSalle in Mexico City as part of an exchange program and traveled extensively throughout Mexico and Europe. She speaks English and Spanish. Betancourt has been a resident of the Elgin Community College District 509 for 38 years. She is actively involved at West Ridge Community Church in Elgin, where she has served for the past 15 years. Jennifer, her husband, Carlos, and their two children, Jake and Jasmin, live in Elgin. In her free time, she enjoys golfing, traveling and spending time with family and friends.

Spotlight on ECC Foundation Board Member John Sleeting John Sleeting is a partner at Elgin-based BSC Private Wealth Management LLC. He has over 20 years of experience in finance and capital markets. Prior to joining BSC Private Wealth Management, he held positions at General Electric Company, Motorola Corporation, and the U.S. Coast Guard. An Algonquin native, Sleeting is a 1986 graduate of H.D. Jacobs High School. He has a bachelor’s degree from the U.S. Coast Guard Academy and a master’s of business administration from the University of Maryland.

ECC Foundation Board of Directors member John Sleeting

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In addition to the ECC Foundation, he also serves on the school board of Westminster Christian School in Elgin, where he is finance committee chairman. John Sleeting and his wife live in Algonquin and have three children.


Congratulations Emeritus Members William Lauderdale

Emeriti status is an honor conferred on members of the foundation board to recognize exemplary service to the foundation and Elgin Community College. Qualities considered in determining recipients include long and distinguished service, a history of board leadership and a record of philanthropy.

Bill Lauderdale is vice president and owner of Lauderdale Electric in East Dundee. Another exemplary civic leader and businessman, he is also an ECC alumnus and former ECC student-athlete as a member of ECC’s baseball team. He has served on the ECC Foundation Board of Directors since 1987. During his 24 year tenure, he says he most enjoyed working with Paul Dawson on prospects for additional foundation support. He also feels fortunate to have had his very own personal experience with ECC as a student. He treasures his time on the board as having been a great way to “give back.”

Emeritus director status was bestowed on the following retiring and former members during the annual meeting of the ECC Foundation Board of Directors in June 2012.

Betty Brown A lifelong resident of Elgin and a product of the Elgin public schools, Betty Brown is affectionately known throughout the Elgin and Chicagoland areas as a style maven and staunch civic leader for more than 35 years. Betty first joined the ECC Foundation Board of Directors in 1987. She has served the mission of the foundation tirelessly over the past 24 years. When asked about what she enjoys most, she mentioned the thrill and excitement of meeting the scholarship recipients. She has also enjoyed demonstrating the board’s support at each graduation ceremony.

Leo Nelson Leo Nelson first began serving on the ECC Foundation’s Board of Directors in 1991. He’s been a staunch supporter ever since. He has served the community personally and professionally for many years and he continues to give back. His experience is expansive, having made significant professional contributions in three major areas­—city management, industrial relations management, and most recently as the president of the Elgin Area Chamber of Commerce. With such a comprehensive breadth of experiences, he has been wellpositioned to chair the ECC Foundation Board’s governance initiatives for some time.

Charles Burnidge As a founding principal of his own architectural firm in 1967, Charles Burnidge has always been a pioneer and uncompromising stalwart of Elgin and surrounding communities. He has served on the foundation board for over 25 years. He has been an integral part of the foundation’s fundraising efforts and leadership throughout ECC’s district. As he reflects upon his years of service, he shares that he is most proud of the vital role that both the college and the foundation have played in the lives of so many students and the overall quality of life in the district.

These new emeritus members join a distinguished list of former servant leaders, many of whom continue to lend their wisdom and treasure to the work of the ECC Foundation. The ECC Foundation’s Emeritus Directors are as follows: Harry Blizzard Betty Brown Charles Burnidge Paul Heath, EdD J. Thomas Finnegan Jr.

John Kluber William Lauderdale Leo Nelson Michael S. Shirley, PhD Don Waters, EdD

ECC Foundation Board Officers Elected for New Fiscal Year Congratulations are also in order for the new slate of board officers who were elected during the ECC Foundation’s annual board meeting this past June. The following individuals will begin their new duties July 1 and serve through the 2013 fiscal year:

Chair—Caren Nickelsen Vice Chair—Ian Lamp Immediate Past President—Brett Lundstrom Secretary—Paul Dawson Treasurer—John Sleeting

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Update to the Foundation’s Investment, Endowment and Spending Program Over the last year, the ECC Foundation’s Finance and Investment Committee has carefully reviewed and materially updated the foundation’s investment, endowment and spending program policy. With the approval of this revision by the ECC Foundation Board of Directors in April, this policy guides good financial practice for honoring our promise to donors while providing needed support for students and programs.

What is spend rate and how is it determined? Each spring, the Finance and Investment Committee reviews the historical performance of the total investment fund and determines a spend rate for the next scholastic year. The foundation’s goal is to maintain the long-term purchasing power of the foundation’s assets and to provide support to the college’s priorities and programs at a level consistent with the intention of the donors. This will ensure that the funds entrusted by the donor as permanently restricted (endowed) will be intact for future generations and that the value of $1 in scholarship funding given to today’s student has the same purchase power as a $1 received by a student 25, 50 or 100 years from now.

What happens if my fund is “under water”? As indicated previously, endowed scholarship funds are invested collectively to produce income interest while maintaining the principle amount contributed by the donor(s). As investments decline, endowment accounts with a paper value less than the donor’s initial and subsequent contributions are considered to be ‘under water’ and may generate low or no interest return until the market recovers. If you are a founding donor of an endowed fund that is currently ‘under water’, the foundation will forgo spending from the fund until it has time to recover.

How do I know where my account stands?

What is an endowment? An endowed fund is a gift or bequest where the principal is maintained intact in perpetuity and invested to create a source of income to support the designated purpose (such as scholarship). This means the foundation never spends any of the gift the donor gives (the endowment principle); only the investment earnings that accumulate over time. The larger the principle, the larger the pool of investment earnings are available to spend for the fund’s intended purpose.

The foundation will send 2011-2012 scholarship statements to all founding donors (individuals and organizations who established scholarship or program fund) in the fall of 2012 after our fiscal year closes and we receive investment reports. These statements include information regarding current account balances, the previous year’s award amounts and scholarship recipients (for July 1, 2011June 30, 2012). The statement will also identify the scholarship award amount for the 2012-2013 academic year that has been approved by the foundation board. If you wish to supplement the current year award amount, you can do so by sending a contribution with this designation to the ECC Foundation.

Additional funds can be added at any time to grow the endowment principle.

How does the foundation invest my funds? Investments are made as a total fund, with all endowed funds and unrestricted funds pooled together. The Finance and Investment Committee secured the services of an investment advisor to manage the funds on a day-to-day basis, but guides these decisions by way of the investment policy. The policy serves as a framework for the advisor to work in, defining the asset classes that can be considered (and those that cannot), ranges of investment tolerance within permitted classes and a target range where the committee believes the fund will maximize return while minimizing risk. The Finance and Investment Committee monitors investment performance regularly and reviews the policy annually for updates as needed.

The approved spend rate for the 20122013 scholastic year is 4 percent, the maximum allowed by policy. This means that $10,000 endowed scholarship fund would be expected to award $400 from interest earning.

A copy of the new policy has been sent to the address of record for all founding fund donors. If you did not receive this document, or would like to check the status of your scholarship, please feel free to contact Katherine Sawyer at 847-214-7143 at any time. Consistent with this goal, the foundation’s new spending policy is to distribute annually up to 4 percent of a trailing fiveyear average of the endowment’s total asset value. The actual spending rate is reviewed and approved annually by the Finance and Investment Committee and ECC Foundation Board of Directors. 10


Planned Giving: The Gift That Continues Have you taken time to create or review your estate plans in the last five years? While updating these important documents, if life experience has led you to value benefits of education, an opportunity exists to create a legacy through the Elgin Community College Foundation that will impact generations of students to come.

Unlike retirement benefits, it’s important, from a tax standpoint, for a donor’s will to specify that these items are to pass onto a qualified organization. Your will or living trust can mandate your charitable gifts be paid with IRD.

A charitable bequest

While the majority of bequest designations are revocable, there are a number of benefits to sharing your intentions with the charitable organization during your lifetime.

Sharing your intentions

As you contemplate the people and organizations that have been important in your life, a charitable bequest is a wonderful way to invest in a mission you value without having to part with assets during your lifetime. Including an estate gift for the benefit of the Elgin Community College Foundation is easily accomplished with your professional advisor through a codicil to your will or amendment to your living trust. Simpler yet is to make the foundation a partial beneficiary of life insurance, financial or retirement accounts. You can donate a specific amount, a percentage of your estate, or a particular piece of property. The value is generally deductible from the estate of the donor. Bequests are simple and flexible—you can change your mind at any time, should you need to.

• The charitable organization can offer sample bequest language to assist you and your professional advisor to ensure the right legal entity is identified in your estate documents, so that your gift is received by the right organization. • Alerting the charity during lifetime also allows you to set up a fund agreement with the organization, detailing your designation intentions. This agreement gives the organization proper direction when the gift is realized. For instance, if you would like your gift to establish an endowed scholarship for students, you can pre-determine the scholarship name, purpose and award criteria through the fund agreement. This document will remain on file with the foundation until it is matched with your estate gift.

Why retirement benefits make excellent charitable gifts As you contemplate which assets you might use to fulfill charitable intentions, it is important to recognize that some assets carry income tax liability to beneficiaries. These items will produce so-called ‘income in respect of a decent’ (IRD) and will cost your heirs both income taxes and inheritance taxes. Because of our tax-exempt status, by gifting these types of assets to a charitable organization like the Elgin Community College Foundation, no income taxes or inheritance taxes are paid and 100 percent of the value of these items will benefit the foundation for the purpose you designate. Another beneficiary might end up with only 20 to 40 cents after taxes. What this means is that the federal government is, in effect, subsidizing 60 to 80 percent of your charitable gift.

• You will also allow the charitable organization an opportunity to recognize you in your lifetime for your generosity. Joining the organization’s legacy society, the Spartan Legacy Society, allows the organization to publically acknowledge you for your gift intention and may serve to motivate others to consider the same. If you have questions or would like more information about ways to include Elgin Community College through the Elgin Community College Foundation in your estate plans, please contact the ECC Foundation Office at 847-214-7377.

Individual retirement accounts (IRAs) and other retirement assets are easy to leave to charity because you can designate the charity as a beneficiary. You don’t have to change your will or trust to make this gift or if you change your mind about the amount or identity of the beneficiary. Examples of other IRD, or dual-taxed assets include: • U.S. savings bonds • Accounts receivable of a professional or business owner • Deferred compensation • Last salary check • Bonuses and distributions from employee benefit plans • A partner’s distributive share of partnership income up to date of death • Payments on installment notes such as land sale contracts • Commercial annuities • Employee stock options

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Return Service Requested

ELGIN COMMUNITY COLLEGE FOUNDATION BOARD OF DIRECTORS 2012 EXECUTIVE COMMITTEE

BOARD MEMBERS

Chair

Jenni Betancourt Architect Dewberry Inc.

Caren Nickelsen Nickelsen Dentistry (Retired) Parti Particulars (Retired)

Vice Chair

Donna Burnidge St. Charles

Ian Lamp VP of Marketing & Sales Lamp Incorporated

Bruce Dahlquist Partner DLA Architects, Ltd.

Immediate Past President

Phyllis Folarin, EdD President Achievement Solutions U-46 School District (Retired)

Brett Lundstrom President & CEO Lundstrom Insurance

Secretary

Paul Dawson Managing Director, Construction Elgin Community College

Treasurer

John Sleeting Partner BSC Private Wealth   Management, LLC

Assistant Treasurer

Sharon Konny VP, Business and Finance Elgin Community College

Kimm Gilmore (’91) President Gilmore Marketing Concepts John Hurlbut Principle Attorney Hurlbut & Hurlbut, PC Larry Jones Village Manager Village of South Elgin Carolyn Kirk-Likou Professor Emeritus Elgin Community College Shawn Dalton Kluber Batavia

College President

Eric Larson, EdD President (Emeritus) Blackhawk Technical College

Executive Director

Michael McKay Financial Advisor, Limited Partner Edward Jones

David A. Sam, PhD, JD Elgin Community College Katherine Sawyer Executive Director, Institutional Advancement and Foundation Elgin Community College

J. Emeka Onwuta, MD Physician David Pfeiffer Senior Vice President St. Charles Bank & Trust

Jack Shales Chairman Shales McNutt Construction Patricia Szpekowski President PmS Advertising, Inc. Robert Werderich President Illinois Aviation Academy, Inc.

EX-OFFICIO LIAISONS Board of Trustees John G. Dalton, JD

Faculty Liaison

Linda Hefferin, EdD

DIRECTORS EMERITI Harry Blizzard Elgin, IL Betty Brown Elgin, IL Charles Burnidge Elgin, IL Tom Finnegan Jr. Palatine, IL Paul Heath, EdD Bloomington, IL John Kluber Batavia, IL William Lauderdale Elgin, IL Leo Nelson Elgin, IL Michael S. Shirley, PhD Bloomington, IL Don Waters, EdD Elgin, IL


IMPACT Newsletter - Issue 2, Summer 2012