Resident sets up music fund
Bill Berrier, president of the Coastal Community Foundation, announced the addition of the Betty Scalice Foundation as the newest charitable fund at the foundation. The fund, established through a donation of a rental home, was created to enhance music programs for children.
It was a second-grade music teacher who originally inspired Scalice to appreciate music and understand its part in an overall education.
“I’m 87,” Scalice said, “and I don’t have to save as much for my old age. I don’t have to die for this portion of my ‘will’ to be done. I know that the funds are so badly needed now. Through this fund, I want to sponsor winning programs that will instill positive messages for coming generations. I’ve known the locals who began and operate the foundation, and in my opinion, they are trustworthy and on the ball.”
One of the immediate benefits of donating property is the ability to provide a large charitable gift and make a difference now. With such a fund, the donor can make recommendations on grants. An equally important benefit is that capital gains won’t be taxed if a property is given to charity, according to Berrier.
Coastal Community Foundation manages more than $1.5 million in charitable assets in 30 funds. Funds include programs in mental health, classroom education, arts, college scholarships, the environment, aid to women and girls, and community projects from libraries to lagoons. Call (760) 942-9245 or visit www.coastalfoundation.org.
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