Legacy Regional Community Foundation

About

Legacy Regional Community Foundation is a 501(c)3 not-for-profit philanthropic organization. This means gifts to any fund held with Legacy are tax-deductible to the fullest extent allowed by law. Funds set up for the benefit of the local area.

The donations that come to Legacy are from local individuals who want to invest in the future of this area. They can give to specific organizations such as a library, hospital or non-profit or earmark their gift for general causes like education or healthcare. Legacy attracts outside organizations such as the Kansas Health Foundation which supports the mission of community foundations and gives them financial support to encourage the growth and sustainability.

We are a member of the Kansas Association of Community Foundations, a collection of more than 80 local foundations in Kansas. Legacy is designated with the Platinum Seal of Transparency from GuideStar.

Under our umbrella are numerous funds—endowed or expendable—set up for the benefit of the local area.  Gifts that come to Legacy are from individuals, groups and businesses that want to invest in the future of this area. In addition to cash, Legacy Foundation accepts a variety of financial assets — from commodities and IRAs to insurance plans and securities — allowing donors to give in ways that are convenient for them.  At the time of the gift, donors tell us about how they would like the money to be spent, what interest, cause or organization they wish to benefit. Donors can give to specific organizations such as a library, hospital or non-profit or earmark their gift for general causes like education or healthcare.  

We get to know our donors and their philanthropic goals, documenting intentions and helping to identify the best solutions to ensure their charitable dreams live on forever.

Legacy Foundation establishes two types of funds—endowed or expendable.  Sometimes all that is needed is a safe and secure collector for community projects.  Expendable funds are a great fit for those situations!  If long-term sustainability is the goal, endowed funds are desired.  When a main gift is endowed, the principal is never spent, instead it is permanently invested to provide income earnings for its intended use.

Community foundations, such as Legacy Foundation, pool resources and leverage that “buying power” to earn investment income, enabling a gift to make a greater impact than it could on its own.  

Investments are overseen by the Legacy Investment Committee, a committee made up of local bankers, accountants and lawyers as well as interested community members.

Distributions (also called grants and scholarships) are made from the earnings off the investment through a Grants Committee consisting of Legacy Foundation board members and interested community leaders throughout the year.