Since 1995,Â the Community Foundation of Dunn County has been welcoming donors into the Legacy Society as a way of honoring those who have made a lasting commitment to Dunn County by including a future gift to the Foundation in theirÂ estate plans.
There is no minimum gift amount necessary to qualify to become a member of the Legacy Society.Â The Community FoundationÂ asks that Legacy Society members be willing to have their names publishÂ although requests to remain anonymous have been honored. Legacy Society members may designate the use of distributions from their future gifts, or may leave the distributions to the discretion of the Foundation’s Grants Committee. A Legacy Society gift may be used to establish a new named fund (if the size requirements are met) or may be added to any of the Foundation’s existing funds. Although we do not inquire about details of legacy gifts, we do encourage donors to discuss their future gift with the professional staff of the Foundation to help make sure that we can comply with their wishes. Bequests are the most common method used to leave a gift to the Community Foundation, howeverÂ the Foundation can be made theÂ beneficiary of 401K/IRA plans, insurance policies, or aÂ charitable trust in favor of the Foundation may be established.
Legacy Society Membership
Legacy Society membership isÂ the easiest way to make a gift. Legacy Society forms are available through many Dunn County attorneys and financial planners or directly from the Foundation office. AÂ Legacy Society Membership Form simply advises that Community Foundation of your desire to become a member of the Legacy Society.
Legacy Society members are invited to all Foundation events throughout the year, and periodically special events are held for Legacy Society members only.
Letter of Intent
A Legacy Society member may alsoÂ submit aÂ Letter of IntentÂ that provides basic information to the Foundation aboutÂ the type(s) of gift you are considering; there is no requirement to disclose the amount of any gift.
If you intend to make a provision in your estate plan, and would like to be included in the Legacy Society, we invite you to print and use a Letter of IntentÂ form. The Letter of Intent is provided for your convenience and simply states your intention to make a gift to the community through CFDC. You may use this as a reminder to have your specific intentions included at the next opportunity you have to make changes to your estate plan.
Future Gift Agreement
If you and your family have made a decision about a Legacy gift, a Future Gift AgreementÂ may also be provided. TheÂ Future Gift Agreement sets forth theÂ name of the Fund and other details associated with the establishment of a Fund. To make detailed arrangements with us for the handling of a future gift; please review theÂ Future Gift Agreement form and contact our Executive Director to schedule a personal and confidential meetin
It is recommended that you send a copy of this letter to both your estate planning advisor and theÂ personal representativeÂ of your estate.
For those that may have included the Community Foundation in your estate plans under the previous name of Greater Menomonie Area Community Foundation (or GMACF), you may be wondering: does this mean I have to change my will or trust? The short answer is no. The Community Foundation of Dunn County is the same entity with a new name; the name change does not invalidate your gift. However, it isÂ a good idea to let your attorney, your nominated personal representatives and trustees, and your family members know that the Foundation name has changed. Additionally, the next time you update your estate plan; just amend the relevant clause to reflect the new name. You may also update beneficiary designations on bank accounts, life insurance policies or retirement policies at no cost by contacting the relevant company and follow its procedures.