the LEGACY SOCIETY
The Legacy Society is a group of visionary people who have named the Community Foundation of Dunn County in their estate plans or created an endowed fund at the Foundation. Your gift will have meaning and impact for years to come and the Legacy Society recognizes this special form of lasting philanthropy.
Since 1995 the Foundation has been welcoming donors into the Legacy Society as our way to honor those who have made a lasting commitment by including a future gift to the community in their estate plans.
GETTING STARTED IS EASY
Planning an estate gift allows you to strategically accomplish both financial and charitable objectives. For many, this includes preserving the family name, honoring loved ones, providing for heirs, minimizing tax burdens, and supporting the community they love.
LEGACY MEMBERSHIP
There is no minimum gift amount necessary to qualify to become a member of the Legacy Society. The Community Foundation asks that Legacy Society members be willing to have their names publish 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, however, the Foundation can be made the beneficiary of 401K/IRA plans, insurance policies, or a charitable trust in favor of the Foundation may be established.
Legacy Society membership is 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. A 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 also submit a Letter of Intent that provides basic information to the Foundation about 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 Intent 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 Agreement may also be provided. The Future Gift Agreement sets forth the 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 the Future Gift Agreement form and contact our Executive Director to schedule a personal and confidential meeting.
FINAL NOTES
It is recommended that you send a copy of this letter to both your estate planning advisor and the personal representative 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, 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 is 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.
If you have already included the Community Foundation in your estate plans, we encourage you to let us know so that we may recognize your generosity. We can be reached at 715-232-8019.