Couple Gives Gift for Scholarship Funds
November 21, 2019
For Immediate Release
Draymond and Estella Crawford from Fontana, Californnia have given a gift of $10,000 to the Baptist Foundation of California. The gift will be added to the principal of the Nelson Frazier Crawford Fund, a donor advised fund, which the couple created in 2014. The fund provides scholarships for deserving college students. The couple established the fund because they knew the importance of education in their own lives and wanted to help students from local churches to achieve their academic goals. Currently, scholarships are provided for students from Temple Missionary Baptist Church in San Bernardino, Loveland Baptist Church in Fontana, Ecclesia Christian Fellowship in San Bernardino, and Saint Reed Missionary Baptist Church of Los Angeles.
Donor Advised Funds serve as a charitable investment account, for the sole purpose of supporting charitable organizations favored by the donor. Generally, when gifts are given to a donor advised fund at the Foundation, the donor may take an immediate tax deduction. The donation is invested for tax-free growth and the donor can recommend grants to any IRS-qualified charity.
After establishing the Nelson Crawford Fund, Mr. Crawford said, “ We wanted our gift to keep giving scholarships to young people even after we are gone, and our family to be involved in the selection process as well. The donor advised fund allows us to accomplish both goals.” To date, the fund has provided $20,000 to eighteen students. Eventually, the Nelson Frazier Crawford Fund will convert to a permanent endowment with the Foundation and the scholarships will continue in their family’s name into perpetuity.
“We are proud to serve this generous family and their desire to assist deserving college students,” said Phil Kell, president of the Foundation. “Through this recent gift, they will increase the fund’s ability even further to fund more scholarship for young people seeking a college education.”