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| Salvisa Ruritan Club |
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Ruritan National Information 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 LionShare and Shop 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. This is a excerpt from the Ruritan National Web Site. For full text information click here. |
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