Last night, I went to the meeting about the plan to create a Ruby Valley Foundation. It was very enlightening. Jerry Aaker did a great presentation on the finalization of the Sheridan and Twin Bridges Horizons projects, and the visions that were developed through that process by our communities. Irv Hedegaard, from Whitehall, shared his experience as founding member of the Jefferson Valley Community Foundation - here is their latest flyer Jefferson Valley Community Foundation Flyer.
Right now, it appears that the overall goal of the Ruby Valley Foundation would be to establish a vehicle for those who wish to share their wealth (in the form of planned giving). The RVF would invest those funds with the Montana Community Foundation, which would, in turn, manage the funds and provide the administration and education for a percentage. As a member of the Montana Community Foundation, the Ruby Valley Foundation would have use of the investment income from the endowments and, in addition, would be eligible for disbursements from funds that are given to the Montana Community Foundation for general use. The Ruby Valley Foundation would then grant the funds to eligible community organizations for use here in the beautiful Ruby Valley.
As it stands currently, the coverage area for the RVF would be the Twin Bridges and Sheridan School Districts (basically, Waterloo to Alder). Those eligible to apply for grants from the RVF would be 501(c)3 and governmental entities. We would need to have an initial investment into the Montana Community Foundation of $25,000 in the first three years to be fully invested, but that should be easy once we get the word out about what is going on.
We need interested parties to help disseminate information. We also need representatives from all of the involved communities to serve on a Board. Within the next month, Jerry will be announcing another meeting for those who would like to serve on the board or on a committee to gather and start nailing down the plan.
I will give you more information as it comes.