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.
Recent grants awarded by the Armour Community Foundation
2022
Douglas County Fair Board – $10,000
Armour Archery Club – $5,000, Interior Renovations
Armour Youth Baseball – $1,400, Replace Canopy
2021
Douglas County Armour Ambulance – $8,000
Armour Archery Club – $5,000, Building Renovations
Mitchell Area Safehouse – $750
2020
Armour Community Club – $5,000, Main Street park project
Armour Senior Citizens – $3,500
Armour Lions Park – $500
Armour City Recreation Programs – $500
Armour Fire Hall – $1,000
Armour Carnegie Library – $500
Lorain Theatre – $1,000
Armour School – $3,000, Lunch Program
First Circuit CASA – $360
2019
First Circuit CASA – $1,000
Dakota Trails Golf Course – $3,400
Mitchell Area Safehouse – $500
2018
Armour School – $3,500
Armour Track project – $5,000
CORE Freshman Impact – $1,000
Armour School Senior Venture Project – $1,500
