Culver City Education Foundation
Post Office Box 4178 • Culver City, CA 90231-4178 •
4034 Irving Place •
           Culver City, CA 90232  (310) 842-4220 x4212

Supporting the Culver City Unified School District since 1981

Skye McDougall, President                    Patty Krause, Executive Director

Why the Need for Support?

In the 1970's, various judicial and legislative decisions shifted the primary source of funding from local property taxes to state revenues.  The California Supreme Court decision Serrano vs. Priest held that the existing school finance system based on property taxes was inequitable and unconstitutional.  In 1978, Proposition 13 dramatically reduced property tax revenues statewide, creating a crisis in each community's ability to finance education.  In addition, Proposition 13 requirements for a two-thirds vote on local revenue measures limited additional local revenue options.  These changes the law increased the dependency of our schools on state funding.

To comply with the Serrano vs. Priest decision, the state legislature created formulas for school financing which resulted in limiting the funding available to districts like Culver City Unified.  Local property taxes are redistributed by the state according to formulas that restrict the dollars available to each school district.  This "revenue limit" per student is calculated for each district, and is based on each district's 1972 spending level. with annual adjustments intended to eventually equalize funding between districts.

The state government does not fully fund programs that it mandates by law.  To comply with the law and to enhance our programs, the Culver City Unified School District must find and draw upon additional revenue that would otherwise be available for general purposes.  Aside from the state-mandated programs, funds from the state and federal governments are inadequate to pay competitive teacher salaries, to purchase books and supplies, and repair aging facilities.

2002-2003 OFFICERS

Endowment Fund  •  Planned Giving Program  •  Increase Your Income  
•  Reduce Your Taxes
Help Endow the Future of the Education Foundation!

A charitable gift annuity with the Culver City Education Foundation through the California Community Foundations is a new way for donors to receive both a guaranteed income for life and an immediate income tax deduction, while ensuring a philanthropic legacy. This tool can provide a great amount of help to donors -- who can take an asset like a CD or stock that's producing little in the way of dividends and actually increase their current income. And, at the same time, donors can take advantage of the tax benefits while helping to endow the future of our community.

THE TAX BENEFITS

Look at the advantages of a charitable remainder trust:
* An immediate federal income tax deduction.
* No capital gains tax when you give appreciated securities or property.
* You can save on estate taxes without paying a gift tax, either.
* You can actually increase your income depending on the yield.

HERE'S HOW IT WORKS
When you transfer cash or securities of more than $5,000 to the Education Foundation Fund with the California Community Foundation, you will receive a fixed stream of income for life. After making these payments to you (and your spouse, if you choose), the remaining principal of the annuity becomes part of the CCEF Endowment Fund.

Payments are based on age - the older you are, the higher the rate (please see chart). If the annuity is for you and your spouse, the calculation is based on your joint ages. You can choose to receive payments quarterly,
semi-annually, or annually.

AGE ANNUAL INCOME RATE
60 6.9%
65 7.2%
70 7.7%
75 8.4%
80 9.4%
85 10.5%
90 and over 12%

And if you don't need the income now, you can use our Deferred Plan and take the deduction now but start receiving payments when you reach a specified age. (This is an excellent complement to any already existing
retirement plans.)

The tax advantages are twofold. First, you will receive an immediate income tax charitable deduction when you create your annuity. This will be based on your age and income pay-out rate. Second, the payments you'll receive may be partly income tax-free return of principal, or taxed at the lower capital gains rates.

HOW SAFE IS THIS INVESTMENT?
It's very safe. Payments are guaranteed and supported by the California Community Foundation's $440 million dollars in assets. The California Community Foundation has been managing and investing charitable endowment funds since 1915, with their investments guided by some of the country's top financial advisors.

WHAT IS THE ENDOWMENT FUND?
Our endowment fund is money that the Culver City Education Foundation intends to hold in perpetuity. In this early stage of our Endowment Fund, no money will be spent prior to reaching $100,000. Gifts directed to this fund are managed by the California Community Foundations. After the accumulation of $100,000, a portion of its average investment return will be used for purposes specified by the Foundation, or as directed by the donor. A donor who creates an endowment gift today can be confident that it will grow and continue to support the Culver City Unified School District in the years to come. 

Unrestricted gifts, which will be used for the highest priority needs of the Culver City Unified School district, recognize that the needs and challenges of the future may differ from those of today. However, as with
any donation to the Foundation, your gift to the Endowment Fund offers the opportunity to provide for programs that are of special interest to you. 

For information please call Janey Campbell at 310-842-4220 x 4212.

CULVER CITY, Calif., Dec. 3, 1999 -- Retired Culver City Unified School District (CCUSD) principal Eugene Ziff has contributed an $82,828 charitable gift annuity to the Culver City Education Foundation's (CCEF) new endowment fund.

The program is comprised of funds the CCEF intends to hold in perpetuity and is managed by the California Community Foundation. No funds will be used prior to reaching $100,000, after which part of its average
investment return can be used for purposes specified by the CCEF or as directed by the donor. "I wanted to help get this charitable movement off the ground by giving some seed money to help hit the $100,000 mark, and to help blaze the trail for the Culver City Education Foundation," said Ziff, who was principal of five CCUSD elementary schools.

According to President Patricia Krause, the CCEF established the endowment fund after recognizing the CCUSD's future needs and challenges may differ from those of today. A charitable gift annuity provides donors with both a guaranteed income for life and an immediate income tax deduction, while ensuring a philanthropic legacy that grows and supports CCUSD students.  "We are incredibly excited to receive this generous gift," Krause said.  "Mr. Ziff has helped to ensure the future of quality education for all Culver City schools."

Ziff's relationship with CCUSD began in 1949. He taught fifth and sixth grades at Culver (now CCUSD's Linwood Howe Elementary School) and Washington (current Echo Horizon School site) Elementary Schools, and also worked in the District office to supervise child welfare and attendance.  He was principal of Washington and Linda Vista Elementary Schools concurrently, and was later principal of La Ballona, El Marino and El Rincon Elementary Schools. "Gene was one of our veteran principals with great experience and leadership during his years with the District," said former Superintendent Curt Rethmeyer. "Students knew him well because he was out on the playground and in the classroom to interact with them."

According to Carmen Jarel, former El Marino teacher and principal, "He was very supportive of the teachers and especially supportive of the Spanish Immersion Program. He's always had energy that abounds." Retired teacher Nancy Kelly recalled, "He was very much a co-player and a true company man whom we all still admire today." She added Ziff offered use of his Rosarita beach house to their families and to groups as large as 30 teachers and staff members.

Ziff, who has five children and nine grandchildren, retired from CCUSD 1988 and lives in Leisure World. "So many parents and teachers have given so much to the kids," he said. "I spent 40 years of my life in the Culver
City community and have a collage of memories that make me feel happy I'm in a position to give something back."

For more information about the CCEF endowment fund, call Janey Campbell at (310) 842-4220 x 4212.

Past year's accomplishments include:

$39,500     Teacher Incentive Program Grants*
$15.000     Library Books
$12,000     High School Computer Writing Lab funding
$9,000       Matching funds for the Eisenhower Grant (Interdisciplinary Math & Science Program)
$8,400       Rite Zide Grant
$5,000       Culver City Youth Health Center
$5,000       Farragut Elementary School Balanced Literacy Project
$5,000       El Marino Language School Literacy Project
$4,500       Academy of Visual & Performing Arts
$4,000       High School Athletic Uniforms 
$3,000       "Kid's Care" - Service Learning Project
$2,000       Middle School "Gathering Place" native plant garden
$1,200       Office of Child Development
$1,100       Elementary School Disability Awareness Assemblies
$1,000       John Edell Grant - Middle School After-School Program
$1,000       John Edell Grant - Middle School Field Trips
$1,000      Eva Gross Memorial Scholarship Fund
$1,000      Tito's Tacos Library Grant
$1,000      School Satellite Libraries 
$675         Culver Park High School Typing Tutorial Software
$250         High School Satellite Library Books
$250          Independent Study School Satellite Library Books
$250          Middle School Satellite Library Books
$250          Culver Park Satellite Library Books
Total  $85,500.00

Recent Projects:

Rethmeyer Retirement Celebration & Tribute Book
Pittard Sullivan/Academy of Visual & Performing Arts Mentoring Program
Benefactors' Breakfast
Walk for Education
Active West "Partners in Education"
Playa Vista/Academy of Visual & Performing Arts sponsorship
Town Hall Meeting on Education
"Sharing the Holiday Lights" in partnership with the Office of Child Development's Kid's Klub.
American Place Theater's "Literature to Life" program - interactive workshop of "Black Boy"
W. LA/VA Medical Center High School Summer Research Institute
1st Annual Tribute to the Stars Gala dinner with CCUSD

Partnership Linkages/ Affiliate Organizations
Culver City High School Alumni Association
Culver City Academy of Travel & Tourism
Culver City Academy of Visual & Performing Arts
Eva Gross Memorial Scholarship Fund

The Culver City Education Foundation (CCEF) provides for outstanding programs submitted by teachers that address the Culver City Unified School District (CCUSD) mission statement, focus on student achievement and align with California State and CCUSD content standards and frameworks.

MEETINGS

The C.C.E.F. monthly board meetings may be attended by the public.   All board meetings are on Monday night, at 7:00 PM in the school district board room (except where noted).  Please call our office for information at (310) 842-4220 x 4212. 

C.C.E.F. Trustees participate on a myriad of committees and ad hoc committees such as; Endowment Fund, Planned Giving, Membership, Bylaws Committee and Nominating Committee, Benefactors' Breakfast, Tribute to the Stars,  T.I.P. Grants, General Grants, Public Relations, CCUSD Education Committee, and several more.  If you see  committee that you would like to volunteer your time for, please call Janey Campbell at (310) 842-4220 x 4212.

CORPORATE SPONSORS

Advisory Board: Michael R. Bauer, Financial
Andrew N. Weissman, Legal
To go back to the Culver City Council PTA page, click here.

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This page last updated on 7/8/02