Ruritan Club and District Officers' Handbook

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 Foundation. Delegates at the 2007 Ruritan National Convention approved incorporation of the Ruritan National Foundation, Inc. (Founda ‑ tion). The Foundation was incorporated by the State of Virginia in March 2007. Mission The Ruritan National Foundation provides finan ‑ cial assistance to qualified individuals or groups for educational, charitable, and benevolent activities. Efforts to provide this financial assistance require fundraisers and donations from various sources along with investment 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 benevolent principles and activities of Ruritan clubs and of Ruritan National. Grant Program The Build Your Dollars (BY$) Program is one of the major educational grant programs of the Foun ‑ dation. This program allows Ruritan clubs to deposit $300 with the Foundation by September 1 and claim their grant funds by June 30 of the following year. 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 club's $300 deposit amount. Using criteria established by the club, a student may receive a scholarship grant based on the student's financial need, community service, or academic achievement. If a club does not have a student selected by June 30, they must submit a written request stating that a student will be deter ‑ mined later. 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 donation. The Foundation is a 501(c)(3) organiza ‑ tion and all donations to the Foundation can be tax deductible. Gifts to the Foundation are a good way to honor an individual. Acknowledgement is sent to the donor and upon request to 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 who to notify as well as their address. Appropriate gifts may include money or property such as stocks, bonds, and real estate. The Foun ‑ dation may also be listed as the beneficiary of an insurance policy. Ruritans and friends are encour ‑ aged to remember the Foundation in their wills and trusts. For information on other gifts please contact any Foundation Trustee or the Foundation at Ruritan National. Funds donated to the Foundation are designated for the Education 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 Founda ‑ tion expenses with the net income given as educa ‑ tional grants to further students’ education or training beyond high school. 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 mem ‑ ory of an individual, or to recognize a club or dis‑ trict. A permanent fund can be started with any size donation, and additional donations 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.

Annual/fiscal year gifts are important to support the Foundation general scholarship and unre ‑ stricted needs. They are recognized by name in the combined Ruritan National and Ruritan National Foundation Annual Report.

Fiscal year Gift Levels are: Gold: $1,000 and up Silver: $500 - $999 Bronze: $100 - $499

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Revised 8/2024