Club_Officers_Handbook_2016

Ruritan National Foundation The Ruritan National Foundation (Foundation) is administered by five Foundation Trustees, who are elected by the delegates at the Ruritan National Convention. Each Foundation Trustee must be an active member of a Ruritan club while serving as trustee. These trustees meet as necessary to conduct the business of the Founda‑ tion. Delegates at the 2007 Ruritan National Conven‑ tion approved incorporation of the Ruritan National Foundation, Inc. (Foundation). The Foundation was incorporated by the State of Virginia in March 2007. Mission The Ruritan National Foundation provides financial assistance to qualified individuals or groups for edu‑ cational, charitable, and benevolent activities. Efforts to provide this financial assistance require fundraisers and donations from various sources along with invest‑ ment procedures throughout the year. Purpose The purpose of the Foundation is to manage and maintain a trust for the encouragement, promotion, and financing of the charitable, educational, and be‑ nevolent principles and activities of Ruritan clubs and of Ruritan National. Grant Program The Build Your Dollars Educational grant program is one of the major grant programs of the Foundation. This program allows Ruritan clubs to contribute $300 to the Foundation and get an equal share of the net income of the Foundation the next year. Using criteria established by the club, a student may receive a grant based on the students’ financial need, community service, or academic achievement. The amount of the grant received by the club is based on the number of clubs that participate and the income available for distribution. The grant received by the club will always exceed the amount contributed by the club. Participa‑ tion is limited to those clubs that contribute within the selected time period for contributions and that select a recipient within the required time period. Currently, the club has to donate their $300 by October 1 and select a student by April 1 of the following year. If a club does not have a student selected by April 1, they must submit a written request stating that a student will be determined later. The Foundation also issues a limited number of regular grants, which are awarded on the basis of financial need, character, scholarship, community ser‑ vice, and the applicant’s desire for higher education. Regular grants are awarded to students selected by the Foundation Trustees. Grant applications are available by contacting the

Ruritan National Foundation, P.O. Box 487, Dublin, Virginia 24084 or by calling 877-787-8727 ext. 302. Source of Funds Primary funding for the Foundation comes from individual, club, and district donations. Foundation donations are applied to any fund designated by the donor, but only the donor is credited with the dona‑ tion. The Foundation is a 501(c)(3) organization and all donations to the Foundation can be tax deductible. Gifts to the Foundation are a good way to honor an individual. Acknowlegement is sent to the donor as well as the individual being honored. Gifts of any size may be given to the Foundation in memory of a deceased individual. In the case of memorial gifts, the family of the deceased will be notified of the gift provided the Foundation is given the proper information of whom to notify as well as their address. Appropriate gifts may include money or property such as stocks, bonds, and real estate. The Founda‑ tion may also be listed as the beneficiary of an insur‑ ance policy. Ruritans and friends are encouraged to remember the Foundation in their wills and trusts. For information on other gifts please contact any Founda‑ tion Trustee or the Foundation at Ruritan National. Funds donated to the Foundation are designated for the Education Fund, the Operation We Care (OWC) fund, or special funds established for specific events. For example, the Foundation has contributed funds to the D-Day Memorial in Bedford, Virginia, and to the construction of a Habitat House in the past. Use of Funds The financial assets of the Foundation are invested as directed by the Trustees. Earned income from the Education Fund investments is used to pay Foundation expenses with the net income given as educational grants to further students’ education or training beyond high school. OWC funds are collected and maintained by the Foundation for distribution in cases of National or State declared disasters. Establishing a Permanent Fund Ruritan districts, clubs, individual members, and families are encouraged to establish a permanent fund. This can be to honor an individual, be in memory of an individual, or to recognize a club or district. A per‑ manent fund can be started with any size contribution, and additional contributions may be added at any time. Once the fund balance is $1,000 it will be officially listed as a Permanent Fund and will always retain its identity.

Foundation

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Revised 8/2016