Million Dollar Challenge

Fundraising ThermometerThe Bernie L. Bates Foundation, Inc., a 501(c)(3) notfor-profit organization (Tax ID No. 541752985). The proceeds generated by this event support and allow the Foundation to award scholarships to students who have demonstrated academic excellence and desire to continue their education through colleges and universities nationwide. Proceeds from the Foundation also allow Psi Alpha Alpha to service the community by means of benevolent designations and various mandated social action projects.

Goal:  Raise $1,000,000.00 dollars for Bernie L. Bates Foundation to support scholarships and community support activities.

Why:  Enable BLB to award college scholarships to deserving students and fund the foundations community support initiatives in perpetuity.

Impact: Provide funding for issues you deem important.  Have a lasting impact on your community.  Build your Legacy!

How: 100 Psi Alpha Alpha members each pledge funding to BLB via their estates by

  • designating BLB as the beneficiary for at least $10,000 from one of your life insurance policies
  • donating an existing fully paid life insurance policy
  • purchasing a new life insurance policy and naming BLB as a beneficiary

Benefits:

  • Your estate may qualify for tax advantages
  • Ability to designate the usage category for your donated funds
  • Ability to provide long term support for your charitable priorities

Example: $500,000.00 Insurance Policy

  • Beneficiaries
    • Spouse: $490,000.00 (98%)
    • BLB Foundation: $10,000.00 (2%)