The Golden Belt Community Foundation is pleased to announce that Locust Grove Village (formerly Rush County Nursing Home), has established a new endowment fund. This partnership between the community foundation and Locust Grove Village gives individuals and businesses interested in supporting the nursing home or retirement community a vehicle for their charitable giving.
“Some individuals wish to support an organization through endowment giving because they know their gift will be invested and continue to support their favorite charity in perpetuity,” said Christy Tustin, Executive Director of the Golden Belt Community Foundation, “and this fund gives donors that option.”
Endowment funds are funds permanently set aside and invested for long-term use, the principal of which is protected, and the earnings of which benefit Locust Grove Village directly. Generally, up to five percent of the endowment fund is granted back to the organization annually. By establishing this fund, Locust Grove Village will benefit by reaching more potential donors, being able to offer free estate planning, and receiving annual distributions to support their mission. When organizations work through community foundations, they can build their funds to provide lasting support and take advantage of investment economies of scale and planned giving expertise.
In 2012 Locust Grove Village changed their name to better reflect the full-range of long-term care services that they would be providing. In addition to the fifty bed skilled nursing center and sixteen independent retirement apartments that they currently have, a fourteen unit assisted living addition is being built this year. Last summer Locust Grove Village began a capital campaign, Crossroads for Care, to partially fund the addition that will include three one-bedroom and eleven studio apartments, as well as separate living/dining, activity and food preparation areas. The campaign goal is $750,000. Total gifts and pledges currently total $690,000.
Locust Grove Village received absolutely no county property or sales tax dollars. As a 501(c)(3) not-for-profit, 100 percent of their operating profits are reinvested back into their operations, technology and services.
Anyone may contribute to the Locust Grove Village Endowment Fund as gifts are accepted in any amount. The Golden Belt Community Foundation accepts gifts in the form of cash, stock, real estate, and can assist individuals with leaving a gift through their will or trust. All donations are tax-deductible. Donations may be mailed to the foundation and donors should note that their gift is to benefit Locust Grove Village in the memo line.
With over $11.2 million in total assets, the Golden Belt Community Foundation has been assisting donors with their charitable giving goals and working with area non-profit agencies since 1996 in an effort to build better and stronger communities in Rush, Barton, Pawnee, and Stafford counties. For more information about the Locust Grove Village Endowment Fund at the Golden Belt Community Foundation contact Christy Tustin, Executive Director at (620) 792-3000 or christy@goldenbeltcf.org.