As the end of 2018 approaches, the Sigma Chi Foundation is reminding brothers and donors of opportunities to receive additional charitable income tax credit by the Dec. 31, 2018, deadline.
Gifts of appreciated property, such as publicly traded securities, are a sound and convenient way to benefit Sigma Chi while providing favorable tax consequences.
Donors may avoid capital gains tax by making a gift of appreciated assets that have been held for at least one year. They may also qualify to receive a charitable income tax deduction for the full fair-market value of the stock at the time of the gift.
Donors who are over age 70 ½ can make a direct transfer to Sigma Chi with a rollover from their traditional IRA account.
Any amount of up to $100,000 will not be included in donors’ taxable income and will count toward the required minimum distribution.
Gifts to Sigma Chi support academic scholarships and educational initiatives for members as the Fraternity builds leaders of good character and impacts lives in the face of a challenging world.
Sig Alumni Find Success During Mid-Term Election Cycle
Ten Sigma Chi alumni were victorious during Tuesday’s mid-term congressional election, with three brothers gaining seats in the House of Representatives for the 116th Congress.
Democrat Dean Phillips, BROWN 1991, flipped Minnesota’s third district seat with a win over incumbent Republican Erik Paulsen to help regain a House majority for the left side of the aisle, while Republican Kelly Armstrong, NORTH DAKOTA 2000, defeated incumbent Democrat Mac Schneider for an at-large congressional seat in North Dakota, and GOP colleague Tim Burchett, TENNESSEE-KNOXVILLE 1985, landed the second district seat in Tennessee.
Seven incumbent Sig congressmen were victorious in their bids for reelection. On the Democratic side, Significant Sig Ruben Gallego, HARVARD 2004, picked up 84.3 percent of the vote in Arizona’s seventh district; Significant Sig John Garamendi, CALIFORNIA-BERKELEY 1966, delivered a win in California’s third district; and House minority whip and Significant Sig Steny Hoyer, MARYLAND 1963, retained his fifth district in Maryland.
Four Republican Sigs maintained their congressional seats: Garrett Graves, ALABAMA and LOUISIANA STATE 1994, grabbed 69.5 percent of the vote in Louisiana’s sixth district; Mark Meadows, SOUTH FLORIDA 1983, held onto North Carolina’s 11th district; Significant Sig Steven Palazzo, SOUTHERN MISSISSIPPI 1994, took Mississippi’s fourth district; and Significant Sig Roger Williams, TEXAS CHRISTIAN 1971, held onto Texas’ 25th district.
Sigma Chi Republican senators and Significant Sigs Lamar Alexander, VANDERBILT 1962, and Mike Enzi, GEORGE WASHINGTON 1966, were not up for reelection in Tennessee and Wyoming, respectively. Elsewhere, fellow Republicans and Significant Sigs Senator Bob Corker, TENNESSEE-KNOXVILLE 1974, of Tennessee and Congressman Bill Shuster, DICKINSON 1983, of Pennsylvania are expected to retire at the conclusion of their terms.