Tripp county 4-H trust fund
Members
The board voted unanimously to dissolve the Trust Fund on April 17, 2018
4-H Leader's Representative & Tresurer: Scott Hollenbeck (2nd term, 2018-2020)
4-H Leader's Representative & Vice President: Marie Condon (1st term, 2018-2020)
4-H Leader's Representative & President: Lynelle Anderson (2nd term, 2016-2018)
4-H Leader's Representative: Theresa Ewing (2nd term, 2016-2018)
4-H Foundation Representative: Bill Ringstmeyer
Secretary: Deb Steinke
General members include all individuals, groups and organizations who have an interest in the future of 4-H Club work in the County of Tripp, and who have contributed the sum of $25 or more to the support of the 4-H Trust Fund. All members of the 4-h Club Leaders Association shall be members of the 4-H Trust Fund
4-H Leader's Representative & Vice President: Marie Condon (1st term, 2018-2020)
4-H Leader's Representative & President: Lynelle Anderson (2nd term, 2016-2018)
4-H Leader's Representative: Theresa Ewing (2nd term, 2016-2018)
4-H Foundation Representative: Bill Ringstmeyer
Secretary: Deb Steinke
General members include all individuals, groups and organizations who have an interest in the future of 4-H Club work in the County of Tripp, and who have contributed the sum of $25 or more to the support of the 4-H Trust Fund. All members of the 4-h Club Leaders Association shall be members of the 4-H Trust Fund
MISSION
TRIPP CO. 4-H TRUST FUND
The Tripp Co. 4-H Trust Fund came into existence in 1990 when 4-H leaders and supporters desired to come up with a fund for the sponsorship of awards, scholarships, and other support for 4-Hers in Tripp Co. They wanted to have a fund that could be used for awards, trip assistance, scholarships, workshops, etc. The founding Directors were Alona Burtz, Linda Schroeder, Twila Zink, Ralph Hoffine, Roger Myers, Susan Schlichting, and James Hanson.
When the Tripp Co. 4-H Trust Fund was started, the goal was to raise $30,000 and to then use the interest from this money for the uses stated above. One of the methods they used to achieve their goal was a voluntary contribution of 10% from those 4-Hers selling animals in the premium sale. This was not a requirement; it was an individual decision by each 4-Her. Thanks to the willingness of these 4-Her’s along with other fundraisers, including our silent auction, the Trust Fund was able to achieve the $30,000 goal. The silent auction continues today to add additional spendable funds to assist 4-H programs, awards, scholarships, camp assistance and other needs.
In April of 2016 the Tripp Co. Trust Fund board made a monumental decision to invest the original $30,000 raised with the Tripp County Community Foundation in a permanent endowment fund administered through the South Dakota Community Foundation. In 2018 the Tripp Co 4-H Trust Fund dissolved and $10,000 of additional funds were added to this permanent endowment. Since that time a total of $45,050 have been invested in this permanent endowment. This money is held in a perpetual fund administered through the South Dakota Community Foundation with the sole purpose being that “disbursable income from the fund shall be used to benefit 4-H programs in Tripp County.
This decision was made and approved by the Tripp Co. 4-H Trust Fund Board of Directors after public input. The Board of Directors looked at the returns for the past several years. Earnings for the years of 2014 & 2015 respectively were $236.90 and $342.16. Investing the funds into the permanent endowment was determined to be the best decision to ensure the growth of the fund so that earning could be used to support the 4-H Program in Tripp County. In 2020 the 10-year average of annualized investment returns for funds with the SD Community Foundation was 7.5%. This significantly exceeds average returns on local bank deposits.
From the $45,050 principal invested in this endowment, today, the value of the endowment is $65,999.45. This includes $8,132.69 that is available for distribution upon request for Tripp County 4-H. If not used, the amount available for distribution will continue to increase.
This endowment is not owned by the Tripp County 4-H Leaders Corporation, however, as the beneficiary of requested disbursalable funds, we continue to include information in our Treasurer’s Report to keep everyone informed.
The Tripp Co. 4-H Trust Fund came into existence in 1990 when 4-H leaders and supporters desired to come up with a fund for the sponsorship of awards, scholarships, and other support for 4-Hers in Tripp Co. They wanted to have a fund that could be used for awards, trip assistance, scholarships, workshops, etc. The founding Directors were Alona Burtz, Linda Schroeder, Twila Zink, Ralph Hoffine, Roger Myers, Susan Schlichting, and James Hanson.
When the Tripp Co. 4-H Trust Fund was started, the goal was to raise $30,000 and to then use the interest from this money for the uses stated above. One of the methods they used to achieve their goal was a voluntary contribution of 10% from those 4-Hers selling animals in the premium sale. This was not a requirement; it was an individual decision by each 4-Her. Thanks to the willingness of these 4-Her’s along with other fundraisers, including our silent auction, the Trust Fund was able to achieve the $30,000 goal. The silent auction continues today to add additional spendable funds to assist 4-H programs, awards, scholarships, camp assistance and other needs.
In April of 2016 the Tripp Co. Trust Fund board made a monumental decision to invest the original $30,000 raised with the Tripp County Community Foundation in a permanent endowment fund administered through the South Dakota Community Foundation. In 2018 the Tripp Co 4-H Trust Fund dissolved and $10,000 of additional funds were added to this permanent endowment. Since that time a total of $45,050 have been invested in this permanent endowment. This money is held in a perpetual fund administered through the South Dakota Community Foundation with the sole purpose being that “disbursable income from the fund shall be used to benefit 4-H programs in Tripp County.
This decision was made and approved by the Tripp Co. 4-H Trust Fund Board of Directors after public input. The Board of Directors looked at the returns for the past several years. Earnings for the years of 2014 & 2015 respectively were $236.90 and $342.16. Investing the funds into the permanent endowment was determined to be the best decision to ensure the growth of the fund so that earning could be used to support the 4-H Program in Tripp County. In 2020 the 10-year average of annualized investment returns for funds with the SD Community Foundation was 7.5%. This significantly exceeds average returns on local bank deposits.
From the $45,050 principal invested in this endowment, today, the value of the endowment is $65,999.45. This includes $8,132.69 that is available for distribution upon request for Tripp County 4-H. If not used, the amount available for distribution will continue to increase.
This endowment is not owned by the Tripp County 4-H Leaders Corporation, however, as the beneficiary of requested disbursalable funds, we continue to include information in our Treasurer’s Report to keep everyone informed.
MINUTES
tripp_county_trust_fund_meeting_minutes_1-22-18.pdf | |
File Size: | 102 kb |
File Type: |
tripp_county_trust_fund_meeting_minutes_2-27-18.pdf | |
File Size: | 89 kb |
File Type: |
tripp_county_4-h_trust_fund_min_4-17-18.pdf | |
File Size: | 91 kb |
File Type: |