The Endowment Fund of the Society for Range Management is for the express purpose of guaranteeing a strong, vital, continuing future for the beliefs we share: conservation, development and sound ecological management of rangelands worldwide.
During recent years, it has become evident that there is a continuing need to fortify SRM’s financial position. The demands of today and tomorrow dictate the expansion of our involvement and range of activities. The Endowment Fund was established by SRM’s officers and directors and organized so that designated contributions will never be spent but would generate funds for SRM projects and operation.
History of the SRM Endowment Fund
During 1979 and 1980 the Society for Range Management encountered serious financial difficulties, almost resulting in the demise of the organization. Charles M. Jerecki of Montana suggested that the Society establish an endowment to help sustain the organization. This idea was adopted in 1980 with John R. Hunter of Texas taking the lead role. Donations were immediately made to the endowment; however, the Endowment Fund was not officially established until 1982. After a required legal review, the Endowment Fund was fully established in 1984.
Why Contribute to the SRM Endowment Fund?
As a leader in the profession of range management you have devoted your time, your heart and your energy by furthering the work of the SRM. Your dedication to this work indicates your desire to perpetuate and advance this worthy cause. Your personal interest and dedication can be directly sustained through the giving of property or other assets to the SRM Endowment Fund. Once you have decided that the SRM should be included in your giving plans you will find there are many ways open to you, each with its own advantages for your personal situation. It is important, of course, to consult your estate planner, accountant or attorney in planned giving. They will also be able to advise you about provision of tax law that may pertain to your own circumstances, and therefore, provide tax calculations beneficial to your estate.
Important Tax Advantages
Giving to SRM need not involve a personal sacrifice. The tax laws encourage you to support private institution in carrying out their important public functions. With thoughtful planning, you may be able to give more than you had anticipated, because a portion of what would otherwise be paid in taxes can be directed to SRM.
Provide A Bequest
No document expresses a person’s appreciation of life more deliberately than his will. By your will, you can provide for the person closest to you and for the causes in which you are most interested. A bequest to the SRM Endowment Fund would benefit many future generations by providing the means of furthering, in perpetuity, those conservation objectives to witch you have devoted such an important part of your life.
The simplest way to make a gift to the SRM Endowment is to write a check. The full amount qualifies as a gift tax deduction and will come from the top of your income. Further, your gift immediately starts doing the good you intend.
Another important way to make a substantial gift is by giving land or securities. If there has been appreciation in value, you may pay no capital gains tax and you may also save a sizeable amount on your federal income tax for one or more years. An alternative to is sell appreciated assets to SRM for what they cost you. Your gift is the difference between your cost and the current market value. Such a gift qualifies for a charitable gift deduction and you also realize a reduction in capital gains tax.
Give Life Insurance
You can take out a life insurance policy on your life (or reassign an old policy which has served its original purpose) and irrevocably designate the SRM as owner and beneficiary of the policy. The value of the policy as of the gift date is deductible from your income tax for that year. Any premiums subsequently paid on the policy are deductible in the years in which they are paid. When you contribute a life insurance policy you are not obligated to continue paying premiums. If you discontinue SRM may either continue paying the premiums or surrender the policy for its cash value.
Create A Trust
You can give a portion of your assets to SRM during your lifetime but retain the income or use of these assets for the rest of your life (and if desired, for the rest of your spouse’s life as well). A common method of doing this is by establishing a trust. There are many forms of trusts which can be established to assure income and security for you and your beneficiaries and, at the same time, provide a meaningful give to SRM. Your lawyer and financial advisor will be able to devise the trust arrangement which will best meet your desires.
The SRM may accept donations of real and/or personal property, subject to limitations imposed by state and federal law. All donations shall be subject to control by the Board of Directors and their discretion in utilization and application of said donations. However, consideration will be given to the donor’s wishes concerning which particular fund account and/or accounts the contribution would be applied. We recommend donors consult tax advisors in regard to any tax consideration that may result from any donation.
2018 Committee Members
Tipton Hudson, Ellensburg, WA
SRM BoD Representative
Curtis Talbot, Las Cruces, NM
Ex Officio Member
Justin Derner, Chair, SRM Finance Committee
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E. T. ‘Tom’ Bartlett, Las Cruces, NM
Rex Cleary, Genoa, NV
Linda Hardesty, Viola, ID
Rodney K. Heitschmidt, Granbury, TX
Chuck Jarecki, Polson, MT
John L. McLain, Carson City, NV
John L. Merrill, Sr., Crowley, TX
Jack D. Alexander, III, Belgrade, MT
Stephanie Larson-Praplan, Santa Rosa, CA
Meribeth Lomkin, Jerome, ID
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Pat Shaver, Monmouth, OR
Val Jo Anderson, Provo, UT
Tipton Hudson, Ellensburg, WA
Jamin Johanson, Bangor, ME
Rory O’Connor, Manhattan, KS
Clarke McClung, Sheridan, WY
John Mitchell, Fort Collins, CO
Lou Hagener,Havre, MT
Larry Howery (Past-President), Tucson, AZ