ruritan foundation

History

In 1949 Ruritan National President, Garland Gray, generously donated all of his expense reimbursement into an account to be set aside for use as educational loans to worthy students. In 1968, the Ruritan National Foundation was established by delegates at the Ruritan National Convention in Virginia Beach, VA. The Constitution was amended form a separate non-profit association and also provided for the election of five trustees.

Purpose

The purpose of the Foundation is to manage and maintain a trust for the encouragement, promotion, and financing of the charitable, educational, and benevolent principles and activities of Ruritan Clubs and of Ruritan National.

Growth

The Foundation has grown from a net worth of only $675 in 1963 to over 2 million dollars currently under management. From 1968, when the Foundation was officially established, more than 2,100 students have received financial aid to continue their education past high school.

Since it’s inception only a few years ago, the Operation We Care program has provided over $80,000 in disaster relief to communities stricken by a National or State declared disasters.

Tax Exemption

The Ruritan National Foundation and all it’s programs are non-profit, and non-private. All donations to the Foundation are tax deductible to the donor under section 501 (c) 3 of the Internal Revenue Code. Copies of the original determination letters are available upon request.

Source of Funds

The Ruritan National Foundation receives the majority of its support from the general public. A small amount of funds are generated through matching programs. Check to see if your company currently matches charitable donations to 501 (c) 3 non-profits. The Foundation is currently developing planned giving programs and estate and trust programs and can be designated to be a recipient of a portion or remainder of your estate providing tax benefits to you and your heirs. Again, all donations to the Ruritan National Foundation and Operation We Care disaster relief are tax deductible to the donor.

Primary funding for the Ruritan National Foundation comes from cash donations. Foundation donations are applied to any fund or funds designated by the donor, but only the donor is credited with the donation. In other words, a check from a club may not be counted as a donation from an individual nor can a check from an individual be counted as a donation from a club.

Gifts to the Foundation in honor of, or in memory of an individual are welcome. Outright gifts to assist students are also gratefully received. Gifts of any size may be given to the Foundation in memory of a deceased individual, in lieu of flowers. In this case, the family of the deceased will be notified of the gift.

Appropriate gifts may include cash or appreciated property such as stocks or bonds. The Foundation may also be listed as the beneficiary of an insurance policy. Ruritans and friends are encouraged to remember the Foundation in their wills and trusts.

Funds are also obtained from the LionShop and Share program.

Governance

The Ruritan National Foundation is administered by five trustees who are elected at large by the delegates at the Ruritan National Convention. Each serves a five-year term. The Ruritan National staff provides administrative support to the trustees and the Foundation.

Partnerships

The Ruritan National Foundation, through its educational grant programs partners with colleges that wish to match grants. The Foundation currently has a letters of agreement with numerous colleges and is actively exploring several additional partnerships.

The Foundation also participates annually in the Food Lion Community Way Days shopping program to generate funds for educational assistance.

Establishing a Memorial

Ruritan Districts, clubs, individual members and families are encouraged to establish a memorial for loved ones or make a Foundation contribution in memory of a loved one. To establish a specific memorial, a minimum gift of $1,000 is necessary. The $1,000 may be contributed overtime, and the fund will be officially listed once the entire amount is on deposit with the Foundation. Once established, these funds become known as a Permanent Funds. Each Permanent Fund will always retain its identity and perpetuate the name of the individual.

Special Permanent Funds

Special Permanent Funds are established with single, one-time donations of $20,000 or more. Grants made from Special Permanent Funds may include reasonable donor restrictions. For example, if requested by the donor, funds may be disbursed in a certain geographic area, or limited to certain fields of study. These educational grants are made from the interest generated by these Special Permanent Funds.

Tom Downing Fellow

Fewer than 1% of all Ruritans are Tom Downing Fellows, making this a distinctive honor among members. The Tom Downing Fellowship is made with a single, lump sum contribution of $500. The contributor must state when the contribution is made that it is for participation in the Tom Downing Fellowship Program. A unique lapel pin designed in the likeness of Tom Downing will be presented to the contributor or a person designated by the contributor. Once presented, the pin or designation as a Tom Downing Fellow is non-transferable and will be a lasting honor to this individual. All funds for this program are credited to the Tom Downing Fellowship Fund.

Use of Funds

The Foundation is currently fulfilling this purpose through an educational grant program and a disaster relief program. All income generated on the trust are used to make educational grants. All donations to disaster relief ultimately give aid to disaster victims.

The financial assets of the Foundation are invested by the trustees. Earned income from these investments is given as scholarships to further students’ education or training beyond high school. All applicants for grants must submit an application to the Trustees. The Foundation must receive all completed applications for education grants by April 1st of each year.