The Friends of Crex publishes a newsletter, The Sharptale, three times a year.  Mailings are sent out in March, September, and December.  The newsletter keeps members informed of all Friends of Crex activities and current happenings on Crex.  Non-members may obtain copies of the newsletter at the Visitor Center. 

Friends of Crex Endowment Fund

“building a future for Crex Meadows”

Initial goals achieved

The Friends of Crex was established in 1984 for the purpose of assisting with wildlife education and wildlife management activities at Crex Meadows and the other Glacial Lake Grantsburg properties. We initially concentrated on the wildlife education activities. Our immediate goal was to provide the volunteer and financial assistance necessary to expand the wildlife education program. Our ultimate goal was to provide funding for construction of the Crex Meadows Wildlife Education Center.

The wildlife education program has grown substantially due to our efforts. Working together with the Crex staff, we were able to substantially increase visitor services and education programs. Our crowning achievement came with the completion of the Crex Meadows Wildlife Education Center in April 2002. We now have a well-established wildlife education program and a first-class education facility at Crex.

Changing needs

Having accomplished our initial goals, we are now prepared to enter the next stage of our evolution. We have two major goals for the immediate future:

1. to insure that the Wildlife Education Center is adequately staffed and fully operational.

2. to offer donors the opportunity to fund wildlife management activities, including land acquisition, at Crex Meadows and the other GLG properties.

The Friends of Crex Endowment Fund: a perpetual source of income

We are happy to announce the establishment of the Friends of Crex Endowment Fund. This fund will be used to provide perpetual funding for wildlife education and wildlife management activities at Crex Meadows. With it, we hope to insure that there will always be adequate staffing, equipment, and supplies to carry on the wildlife education and management activities at Crex Meadows.

Initially, the endowment fund will have two sub accounts: one for wildlife education and the other for wildlife management activities. Our plan is to build each sub-account to a minimum of $100,000. At that point, we have the option of using all or part of the interest to fund projects. The principal from the fund will not be spent.

Donor Designated Funds: gifts for a special purpose

We also have a provision for donors who desire their gifts to be used for a more specific purpose (e.g. land acquisition) that falls within our guidelines. Their gift will be placed in a donor designated account and spent as they desire. These donations will not be considered as part of the endowment fund. For practical reasons, the interest and principal of these donor designated funds may be spent for the intended purpose.

Giving to the Friends of Crex Endowment Fund

There are many ways of giving to the endowment fund. Several of the most common ways are listed below.

During your lifetime:

1. You may make a direct gift of money, stocks, bonds or property that is fully deductible, up to the limits on your return, at the full market value on the date of the gift.

2. Of greater benefit to you, the donor, is to donate “appreciated assets” of stocks, bonds, or property. This is usually considered wiser since one avoids paying capital gains taxes on the “increase” in value. The charity gets a larger amount than if you paid income taxes first. The donor also gets to deduct the full-appreciated value up to your income tax limits.

3. You can establish your own private “charitable foundation.” This is intended for people who want to donate to several different charities annually. However, this is very expensive to set up and probably doesn’t pay unless your gift is more than $250,000.

4. An easier way of donating through a “foundation”, if you have smaller amounts to give, is to go through a “community foundation.” There are over 400 of these in the U. S. and they handle all of the administrative chores for an annual fee of 0.50% to 1.0% of the principal (depending upon the amount donated and the particular foundation charges). You set up a “donor–advised fund” within your chosen community foundation, receive a tax deduction for the year of donation, and then decide the amount of money for each charity. Examples of community foundations are Fidelity Investments Charitable Gift Fund (1-800-682-4438), Vanguard Charitable Endowment Program (1-888-383-4483), Lutheran Community Foundation (1-800-365-4172), The Minneapolis Foundation, and The St. Paul Foundation.

Upon your death (deferred giving):

1. You could work with your estate planning attorney to give a gift of money, stocks, bonds, property or other assets by designating Friends of Crex Inc. as a beneficiary in your will, living trust, or other type of trust.

2. Giving tax-sheltered or tax-deferred assets such as in IRA, 401 ( k ), or 403 (b) to a charity is very easy. This can be done by requesting a new beneficiary form from the holder of the assets and designating the specific charity (in our case, Friends of Crex, Inc.) as a beneficiary. Actually, many financial planners recommend this because the funds go directly to the charity without a decrease due to income taxes, estate taxes, or other probate and administrative fees.

3. If you intend to give to only one charity, you might consider a Charitable Remainder Trust (CRT). You get a tax deduction in the year that you set up the trust and then receive annual payments that you designate for life. The charity receives the “remainder” at the time of your death. The first type of CRT is called a “charitable remainder annuity trust.” You designate that you want a fixed annual amount of the initial value donated (e. g. $5000 of $100,000, with a 5% minimum) for the rest of your life. The second type of CRT is called a “charitable remainder unitrust.” Here, you designate a fixed percent of the annual value of the investment (Ex. 5% of $114,000). The annual payment varies depending upon the success of the investments.

4. You can multiply your charitable gift in a variety of ways using term life insurance. For example, you might cash out IRA monies to pay life insurance premiums for term life insurance with the specific charity named as a beneficiary on the policy. You pay income taxes on the IRA assets redeemed but this is balanced on your income taxes by a charitable deduction (equal to the insurance premiums paid). Theoretically, you could cash out $50,000 of IRA assets over a 8-10 year period and leave the charity a $100,000+ donation under some current interest rate scenarios. Consult with various insurance companies about this type of donation.

Again, these are just a few of the more common methods of charitable giving. Many other options are available.

The Friends of Crex does not endorse any particular method of donation or company, nor can we provide advice on complicated tax issues. We will strive to assist you as much as possible in your decision about a gift to the endowment fund, but charitable giving and estate planning are complicated topics that generally require the advice of attorneys, financial planners, or tax consultants.

“Be part of the future of Crex Meadows”

Your gift to the endowment fund will help insure that wildlife education and wildlife management efforts at Crex Meadows continue in perpetuity.

To donate to the endowment fund, please click here to go to the donations page.

CLICK HERE for to download a membership form.

BACK TO TOP