550 Club

The 550 Club is an integral part of the Foundation for Eden Prairie Schools (FEPS) endowment campaign. The concept is to create a donor program that minimizes the burden on individual donors by letting them spread out their contributions over a five-year period. At the same time, the program helps grow the Foundation’s revenues at an accelerated rate through cumulative contributions to the endowment as well as annual contributions to the operating fund.

This is how the 550 Club works:

• Donors pledge to give $550 each year for five years.
• The contribution is divided so that $500 goes to the endowment fund and $50 goes toward annual operations.
• Donors are billed for future installments on the anniversary date of their club membership.

Our goal is to bring in at least ten new 550 Club members each year. Each ten donors represent a five-year contribution of $25,000 to the endowment and $2,500 to annual operations. FEPS board members believe that the 550 Club program will result in strong financial growth and enable us to fund more grants and scholarships each year. The program is not exclusive and those in a position to donate larger amounts are strongly encouraged to do so.

The 550 Club program has a number of benefits for donors:

• It makes the annual commitment of individual donors financially manageable.
• Since FEPS is a 501 (c) (3) tax exempt organization, contributions are tax deductible to the extent provided by law. For example, a donor in the 28% tax bracket would receive a tax deduction of $154 annually. (If tax rates increase, the benefit would be even larger.)
• 550 Club membership includes two half price tickets to the Taste of Eden Prairie, our premier fundraising event. This represents a $30 value.
• 550 Club members will be recognized in the FEPS annual report and on the FEPS donor wall at Eden Prairie High School
• Members have the knowledge that they are making a difference in the lives of students in our schools.

550 Club donors who wish to remain anonymous will be accommodated.

To become a member of the 550 Club, please contact us at (952) 975-7205 or by email at info@foundationforepschools.org. On behalf of all those who will benefit from your generosity, we thank you.