Armour Community Foundation

The Armour Community Foundation is a non-profit, 501 (c) (3) tax exempt public organization created to attract and distribute charitable funds for the benefit of the Armour area. The Armour Community Foundation serves and is to function as a “savings account” for the Armour community. It is NOT the same as the Armour Development Corporation or the Armour Non-Profit Development Corporation. In fact, the role of the Armour Community Foundation is very different. The community foundation provides a way for people to reinvest in their community by investing in a permanent endowment. All types of donations are accepted. For example, donations can be made in honor of a birthday, anniversary or as a memorial. In those cases, the person honored will receive a card and the donor will receive documentation for charitable gift purposes. Larger gifts, such as estate gifts, are also welcome. Gifts can be made by giving a donation to anyone on the board of directors.

What is an endowed or permanent fund and how does it work?

The Armour Community Foundation handles no funds directly. The donations it receives are forwarded on to the South Dakota Community Foundation to be invested into a permanent fund. From there, these funds provide income and growth to meet or exceed inflation. Only interest income is distributed each year so that the funds are never depleted. At present, the Armour Community Foundation’s account has reached more than $100,000 in principal. This was necessary before interest distributions could be made. Now, interest earnings are available for distribution at an annual rate of not more than five percent of the principal. These earnings may be available in September and March in the form of grants to non-profit groups within the Armour Community. As the principal grows, so does the spendable interest. This allows the Armour Community Foundation to grow and award grants indefinitely. With the financial support of community members, alumni and friends, the permanent endowment can continue to grow and serve as a funding source for projects of non-profit community organizations.

What type of gifts will the Armour Community Foundation accept?

Gifts may be given in a person’s name or anonymously during your lifetime or through a will, estate or both. Gifts of cash, stock, life insurance and real estate are the most common. Various forms of trusts, as well as gift annuities, are also accepted. A gift to the Armour Community foundation is invested by the South Dakota Community Foundation, and distributions are made from the fund income to charitable organizations in the Armour community. After making a gift, a person will receive regular reports on the status of the fund.

Are there any benefits to fund donors?

Making a gift to the Armour Community Foundation will leave a legacy in the Armour community that will benefit future generations. In addition, a gift provides income, estate and tax savings to the maximum allowed by law; recognition, permanence and professional management of charitable capital; the ability to have one gift benefit many Armour organizations.

For more information …

For more information or to make a gift to the Armour Community Foundation, write: Armour Community Foundation, P.O. Box 333, Armour, SD 57313, or contact any of the directors: Kevin Werkmeister (605) 724-2818 (w); Craig Krsnak (605) 724-2482 (w); Bev Menning (605) 724-2554 (w); Nicole Neugebauer (605) 724-2159 (w); or Don Putnam (605) 724-2245 (h).

Grants awarded by the Armour Community Foundation

Armour Lions Club
$3,000 August 2010
Digital Sign

Armour 125th Anniversary Committee
$2,500 August 2010
Promotional Costs

Armour School District 21-1
$1,500 August 2010
Defibrillator for High School & Gym

Armour Community Exchange
$4,000 June 2009
building improvements

Armour Horizon’s Cabin Committee
$4,000 March 2008
Build two cabins in Lion’s Park

Armour Senior Citizens
$1,500 March 2008
Repair wall of building

Arcania Lodge (Masons)
$500 September 2007
Child ID project

Women In Action
$750 September 2007
Books for children’s reading projects

Lorain Theatre
$750 September 2007
Digital slide projector for community theater

J20 Club
$500 September 2007
Toys, equipment – help start club for children