The Washington State School Retirees’ Foundation (formerly the Washington State Retired Teachers Foundation) was established in 1985 by the WSSRA Delegate Assembly in Olympia. Since then, the Foundation has developed governance documents and successfully filed with the State of Washington and achieved status as a 501 (c) (3) tax exempt organization.
The effect of the tax exempt IRS status is that the Foundation is recognized as a publicly supported organization under the IRS Code which allows donors to deduct contributions to the Foundation as provided under Section 170 of the Code. Bequests, legacies, devises, transfers or gifts to the Foundation are deductible for Federal estate and gift tax purposes if such gifts meet the applicable provisions.
The Foundation’s primary purpose is to raise funds and accept donations for the Foundation, and to manage the Foundation’s investments for the purpose of providing annual scholarships for high school seniors planning to seek a degree as an educator.
A long-range goal of the Foundation is to create a self-sustaining endowment fund, which would provide annual scholarships. The Foundation also engages in fund raising annually which helps support the yearly cost of the scholarships. Avenues have been developed which allow any person, firm, or association to make gifts to the Foundation, while at the same time benefiting the donor and family. A brochure is available for distribution upon request.
Gifts or donations may be made in the form of memorials, bequests, contributions of cash, real estate, securities, stocks, IRA’s Trust Fund or real and/or personal property. Gift categories will be recognized on an annual basis and published in the WSSRA Handbook. As indicated above, gifts to the Foundation are tax deductible.