The Rusk County Community Foundation provides an easy, secure, and effective way for people to give to the causes which matter to them most, while creating a fund which will assure their legacy. We provide donors the flexibility to donate the following assets in a way that qualifies for the maximum tax advantages under federal law:
- online through our cart
- appreciated securities, bonds and stocks
- charitable transfer from your IRA in lieu of mandatory minimum distribution
- illiquid assets such as real estate, homes, farms or remainder interests
- beneficiary designations on your IRA, 401(k), 403 (b) pension plan and life insurance
- testamentary bequest through will or trusts
Types of Funds
Designated Fund: allows donors to support a specific nonprofit organization, church, school or program within a charity.
Donor Advised Fund: allow individuals, families, and businesses to choose which causes or charities they will support year to year with the earnings from their fund.
Field of Interest Fund: targets the donor’s gift to address needs in an important area of community life. Areas may include cultural arts, education, environment, health and human services, youth and senior programming, animal welfare or preservation of resources. The donor identifies the cause they want to support when making their gift. The Foundation board awards grants to community organizations and programs that are making a difference in the area that reflects the donor’s wishes.
Unrestricted Fund: allows the donor’s charitable giving to have the greatest possible impact now and in the future. The Foundation is authorized to allocate gifts to a variety of programs and services, giving the most flexibility in responding to emerging needs and opportunities in Rusk County while honoring your family’s legacy.
Agency Fund: Nonprofit organizations, such as schools, churches, charities and clubs, create their own endowed professional investment services to support their missions.
Other Types of Funds
An Acorn Fund allows people from all walks of life to make a difference…. a little at a time. Here’s how it works.
An individual or couple makes a pledge to establish an Acorn Fund and begins making periodic contributions that will eventually grow to be a permanently named fund.
Contributions begin to give back to our region when your balance grows to $10,000. Because your Acorn Fund is “planted” in our already-growing Unrestricted Endowment it helps provide income to support grant funded projects in local Rusk County. These projects help make our community a great place to live. The arts, environment, civic projects, human rights, adult education and community, youth & family services are areas that currently receive funding. Your Acorn Fund will help address the needs of our county now, and as they change over time.
To create an Acorn Fund you simply make a commitment to contribute at least $10.000, with a minimum gift of $1000 now. You have 10 years to bring your balance up to $10,000 for permanent unrestricted granting. You may, of course, pledge a larger sum, or choose a shorter time period. The choice is yours.
If your circumstances change and you are able to fulfill your pledge sooner than expected, that’s fine. If, on the other hand, you find you are unable to continue making the minimum contribution, gifts received will become part of the Unrestricted Endowment.
Donors building an Acorn Fund will be recognized in our Annual Report, unless you request to be anonymous.
You will receive our newsletter and invitations to special events where you can meet others who share your commitment.
Choose a name for your Acorn Fund…. your own name, or the name of a family member or friend you wish to honor. When the fund reaches $10,000 the name will become public.
Once your Acorn matures you can continue to grow the fund with additional gifts at any time. Family and Friends are welcome to contribute as well. You can also add to your fund through a bequest in your will or through beneficiary designations. Income from your fund will continue to benefit your community generation after generation.
Plant your Acorn. Whether you have permanent roots in Rusk County or simply want to give back to our region, we invite you to consider establishing an Acorn Fund today.
The Legacy Circle
The Legacy Circle recognizes a special group of donors who have made a provision in their estate plans to benefit their favorite charitable cause through Rusk County Community Foundation.
Including a charitable bequest in your will is a simple way to make a lasting gift to benefit the Rusk County region. Our staff can provide you and your adviser simple language to include in your will or other planned giving vehicles. Your future gift can be made in the form of cash, stock, or property, whether specific or by percentage; a gift of real estate, a gift in trust to benefit family members during their lives, or a gift of the remainder of an estate when other specific bequests have been fulfilled.
A bequest is a way that is:
- Flexible. You can change your mind at any time.
- Economical. Your charitable gift is excluded from your assets for estate tax purposes.
- Personal. Your gift can be placed into any of our existing endowment funds or you can
- create a fund for your specific charitable purpose.
- Permanent. Your gift – and all future earnings from your gift – is a permanent source of community capital, helping to do good work forever.
Joining The Legacy Circle helps to ensure that future generations will continue to enjoy a vital and caring community. It’s simple and flexible. There is no minimum or maximum gift. While we hope Legacy Circle members will allow us to list their names, you may choose to remain anonymous. You do not need to share the amount of your gift. Although if you wish to create a fund for a specific purpose, a confidential conversation with our staff can ensure your intentions will be met.
How to get started.
For more information about leaving a donation to your charity, contact you legal/financial advisor.
All contributions are tax-deductible. Upon receipt of funds the foundation will provide a receipt with pertinent tax id information.