Several months ago I wrote that I am interested in funding a post-Thames scholarship but that I didn't want it to go through the Foundation--at least not while the current Foundation leadership is in place. Ram said it is possible to set up a scholarship through an independent agent. Does anyone know more about this? Ram, if you are reading and have a quick answer for me, please post through my message board address or LVN can give you my email. I suspect (and hope) that lots of donors will open their pockets come May.
One way is to set up your own private foundation. See your lawyer.
Another way is to set up a charitable trust. In that case, you would have to name a charity as the beneficiary. You could empower your trustee to deliver annual income to the USM Foundation to be applied for a particular purpose, . . . or to some other charity if the USM Foundation is not sufficiently responsive or accountable. You might also want your trustee to look at the shrinkage, that is the administrative expenses charged by the charity.
Third way is to use an existing charitable community foundation. There's one in Hattiesburg, on the Coast, in Meridian, and Jackson. Probably others.
Let me do a little checking, and I'll post more later.
ram wrote: Third way is to use an existing charitable community foundation. There's one in Hattiesburg, on the Coast, in Meridian, and Jackson. Probably others.
Let me do a little checking, and I'll post more later.