Letters Consider Foundation when planning finances

To the editor:

On Sept. 20 you gave front page coverage to an organizational meeting to establish a Community Foundation. You followed up with an editorial on Sept. 29 to encourage us to go ahead with this task.

Nov. 1 saw the signing of the agreement with the South Dakota Community Foundation and the start of our fund drive to raise $100,000 by Oct. 31, 2003. If we accomplish this task in that time frame then the South Dakota Community Foundation will match our $100,000 with a gift of $25,000.

We are pleased to report that as of this date we have raised a total of $32,950 towards this goal; $16,184 has been deposited in our account with the South Dakota Community Foundation and $16,766 is pledged to us over the next three years. We are the 42nd community in South Dakota to form a foundation under the SDCF.

The task force has asked 15 local organizations to provide a member for the board of directors who will determine how the income from this Foundation will be spent as it returned to the community. We are in the process of contacting local attorneys, investment brokers, financial planners and CPAs with brochures for any client who is seeking a worthwhile place to leave a bequest that will benefit our community in the future.

In recent weeks you may have noticed a series of ads by Tom Brokaw on South Dakota television stations advertising the South Dakota Community Foundation and the Community Savings Account (Vermillion Area Community Foundation) that have helped publicize our efforts. However, we feel that your support and coverage have been the greatest help to our efforts.

We hope there will be some local citizens that will find the Vermillion Area Community Foundation a good year end place for a donation to help us reach our goal. We can be reached at PO Box 342 or by phone at 624-2927.

Young Moore, III


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