FAQs
What is the Yellow Tea Rose Foundation of NC?
The Yellow Tea Rose Foundation of NC is a non-profit charitable corporation is to secure and distribute contributions from individuals, estates, government, corporations, foundations, and any other source for the sole purpose of empowerment and education of women and children in the Charlotte Metro community by providing educational, social, and leadership development in the form of scholarships, tutoring, workshops, and volunteerism. The Foundation was started by members of the Beta Omicron Sigma Chapter of Sigma Gamma Rho Sorority, Inc. on behalf of Hopie Perry, a deceased member of the Beta Omicron Sigma Chapter. She donated funds to the Beta Omicron Sigma Chapter to set up a foundation to assist with educational needs for young women. The chapter decided to establish an entity, separate and not directly related to the chapter or to Sigma Gamma Rho Sorority, Inc., through which it could serve the Charlotte Metro community. In 2008, the Yellow Tea Rose Foundation of NC was chartered as a non-profit organization in the State of NC. In 2008, it was recognized by the Internal Revenue Service, under code 501(c)3.
Why is the Foundation separate from Sigma Gamma Rho Sorority, Inc. - Beta Omicron Sigma Chapter?
An independent Foundation is better able to protect donor intent in the use of the gift, free from any possible institutional or governmental pressures
Should all private gifts be directed to the Foundation?
Yes. The Yellow Tea Rose Foundation of NC is designated to receive, manage, invest and disburse private gifts to Charlotte metro community. The Foundation is uniquely equipped to fulfill this obligation through an efficient, experienced Board of Directors and officers.
How have donors helped the Foundation?
Donors have helped the Yellow Tea Rose Foundation of NC to increase the number of scholarships in the name of Hopie Perry-Lavenia Young to young women pursuing higher education. Funds provided for scholarships are limited to female students who are planning to pursue post-secondary education at a four year college or university and actively involve in community service activities.
Who decides how gifts are used?
You do. As donors to the Foundation, you determine where your money goes and the guidelines for its expenditure. The Foundation works with you and/or your legal and financial advisers to accomplish what you want. In either case, it is then the Foundation's job to see that your wishes are followed and to keep you informed on the status of your gift or any fund that you establish.
What does the Foundation do with the gift I make?
Contributions are deposited in either an existing fund/account or a newly created fund as you have determined.
As events or other activities occur, amounts requested must be submitted timely and upon Foundation approval, the checks are issued.
How is the Foundation funded?
All funds are received via donations
Who governs the Foundation?
A Board of Directors comprised of 7 individuals elected for two-year staggered terms governs the Foundation. The Board of Directors are themselves donors to the Foundation who have exhibited over time a dedication to community service and a willingness to give of their time, resources and expertise. The Board of Directors are drawn from active members of the Beta Omicron Sigma Chapter of Sigma Gamma Rho Sorority, Inc. and professional and philanthropic backgrounds that are an invaluable resource to Beta Omicron Sigma Chapter and the Foundation in attaining our private funding goals.
What kinds of gifts can I make to the Foundation?
The Foundation accepts cash gifts, securities, gifts of property, deferred or planned gifts, life insurance, memorials and matching gifts. Thousands of corporations and foundations throughout the country match, most often dollar-for-dollar, the contributions of their employees to educational institutions.
If a donor is unable to make an outright gift at this time, are there other ways to support the Foundation?
Gifts can be tailored to meet the financial, income tax or estate planning needs of the individual donor. These giving vehicles include:
Charitable remainder unitrusts
Charitable remainder annuity trusts
Remainder interest in a personal residence or farm
Bequests through a will or living trust
Life insurance
How does the Foundation fulfill its responsibility to be accountable?
When you establish a fund within the Foundation, you sign a legal contract which ensures that the Foundation will carry out your wishes. Each donor, to either an existing or a new fund, receives a receipt for every donation to that fund. Expenditures are requested by the fund's sponsor and approved by the Foundation.
When are scholarship applications available?
Scholarship applications will be available November 15th - January 31st.
Application packets are sent to all Mecklenburg, Cabbarus, Union, and Stanley county high schools each fall, and are also made available via this Web site.