Club_Officers_Handbook_2016

Ruritan National Foundation (continued)

21st Century Legacy Fund

Friend of the Foundation Fund A Friend of the Foundation Fund is established by the request of the donor when a permanent fund bal‑ ance is $10,000. These funds will provide a scholarship annually for 10 years equal to 5% of the fund balance. The club designated will submit from two to five ap‑ plicants to the Foundation and the Trustees will select the student to receive the scholarship. At the end of 10 years, the donor can ask for up to two extensions of 5 years each. Special Permanent Funds Special Permanent Funds are established with do‑ nations totalling $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. The specific terms and conditions for these funds are established by an agreement between the donor and the Foundation. Tom Downing Fellow The Tom Downing Fellow is a great way to honor an individual. The Tom Downing Fellow 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 Fellow Program. A unique lapel pin designed in the likeness of Tom Down‑ ing (one of the co-founders of Ruritan) and a plaque will be presented to the person desig‑ nated 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 Fellow Fund.

The Cornerstone Fund A cornerstone fund is established by a contribu‑ tion of $5,000 to the Foundation. Contributions to the cornerstone fund can be of any amount and additional funds may be contributed at any time. Once $4,500 has been contributed, upon written request submitted to Foundation, an additional $500 will be added to the fund bringing it to $5,000. $100 Foundation addition will be added upon written request. Then other opportunities will be available such as “rolling” this amount into a Cornerstone Fund.  A Legacy Fund may be named in honor of a friend, relative, or an institution.  A special lapel pin will be given to the Legacy Fund donor. The Virginia Tech Memorial Scholarship Fund has been established in memory of those persons who lost their lives from the shooting rampage on Virginia Tech campus in Blacksburg, Virginia, on April 16, 2007, and in honor of the entire Tech family, the Blacksburg community, the Commonwealth of Virginia, colleges, universities, and secondary school system from across the United States of America. Scholarship grants will be awarded annu‑ ally from the previous fiscal year’s earnings derived from this fund to individuals who have been accepted for enrollment at Virginia Tech and whose educational grant application has been submitted by a Ruritan club. Foundation Trustees will make the selection of awarded grants. Virginia Tech Memorial Scholarship Fund The Ruritan National Foundation 21st Century Legacy Fund is a new plan to provide opportunities to grow our scholarship funds.  This plan allows any Ruritan member to leave funding to assist in the education of our youth.  By participating in this plan, Ruritans will leave a legacy of “love” to children, grandchildren, great grandchildren, and others. Donated funds may begin with any amount.  Once the donations have reached $2,000, a one-time

Foundation

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Revised 8/2016