2008 Board of Directors

Front Row: Pam Hoeing, Mike
Wicker, Betsy Williams, Ron
Westerfeld, Amy Meyer Ploeger,
Marcia Schwering.
Back Row: Darwin Brewer, Dahl
Petry, Roy Mohr, John Wilson,
Al Hodge, Phil Mitchell, Deb
Hassler. Absent when picture
taken: Barbara White

About the Foundation

The mission of the Rush County Community Foundation is to enrich and enhance the quality of life in Rush County, Indiana.

The purpose of a community foundation is to contribute to community betterment. The concept is as ingenious as it is simple-a means by which a substantial amount of money can be built over a period of time from contributions both large and small, the income from which is used to help meet the community's charitable needs.

Because these contributions are endowed, they are never spent. Instead, they are permanently invested to produce income. The income earned is then used to help meet the community's charitable needs--from social work to art and culture.

Donors like you may set up individual funds, in your own name or the name of a loved one, and have essentially as little or as much control as you wish in determining which charities benefit from your fund. Or, you may choose to contribute to a varitey of existing funds, set up to serve particular purposes. We also have a general endowment fund, which is distributed by the foundation to address needs and opportunities in our community as they change over time.

A community foundation is governed by a local board of directors chosen for their knowledge of the community and designed to be representative of a broad cross-section of the community.

A community foundation is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. All contributions are tax deductible to the maximum amount allowable for gifts to a public charity.

The Rush County Community Foundation now holds over 125 funds, and have permanent endowment assets of over $6.5 million.

Your gift to a community foundation is a gift for now and in the future.

IS THERE A MINIMUM AMOUNT I MUST CONTRIBUTE?
NO! You may contribute in any amount to an existing fund.

IS THERE A MINIMUM AMOUNT TO START A NEW FUND?
Yes, a new or named fund can be started with as little as $2,000, but that fund will not pay out any income to the designated charitable purpose until it has reached $5,000. The income is added back to the balance of that fund, and no administrative costs are assessed until it reaches $5,000.

WHAT KIND OF GIFTS CAN BE GIVEN?
A Donor may contribute cash, stocks, bonds, or real estate, bequests, life insurance, or charitable remainder trusts. Each of these types of gifts has particular tax advantages to the donor when planning your estate. Often attorneys, financial planners and bankers utilize the community foundation vehicle to fulfill their client's wishes.

WHAT ARE THE ADVANTAGES TO ME?
The foundation provides permanence. You are assured that your gifts will benefit the agencies and residents of your community in perpetuity. Your gift will be safe. The principal will never be spent, only the earnings.

The foundation provides flexibility. You may select the charitable purpose of your fund, either by creating a new fund, or contributing to one that is already established. You may choose the type of gift (cash, stock, life insurance, real estate, etc.).

Gifts to the foundation can reduce your tax burden. Income taxes are reduced through the deductions allowed by the IRS for contributions to a public charity. If appreciated assets are donated, in most instances you eliminate the capital gains tax you would incur if you sold the assets. And in the instance of contributing funds through your estate, estate taxes are avoided.

Your community foundation provides professional administration. For unrestricted funds (those whose income distribution is left up to the community foundation), we continually assess the changing needs of our community and award grants to agencies best addressing those needs.

For designated funds (those whose purpose is earmarked), we easily handle the issuance of annual grants to the organizations you specify when you establish the fund.

If you would like to receive more information, or would like to be put on our mailing list, please contact: