SUFFOLK FOUNDATION
FOUNDATION DIRECTOR SPOTLIGHT
be designated for a specific purpose such as scholarships or a junior activity or any specific project approved by the board. What role do you see the Foundation playing in the future of the Suffolk breed? The Foundation can serve a leadership roll in coordinating the procurement and investing money for the promotion of Suffolks. I see much of this going to the UJSSA for promotion to youngsters and young families. Talking to other livestock organizations that have established foundations we have found that they all have had slower growth at the start, and once the members see the value of the programs, gifts become both larger and more frequent. The Suffolk Foundation is seeing slow but steady growth. As more funds become available larger projects can be undertaken and possible funding of research. Why are you investing in the Foundation? The Foundation supplies a tax advantaged plan through the 501(c) (3) plan for gifting money or property in support of Suffolk breeders. It also allows regular gifting of cash or goods for the good of our breed and breeders. If you had one piece of advice to give someone who was considering the Suffolk Foundation through estate or gift planning what would it be? If you are considering giving to the Suffolk Foundation by either estate planning or gifting, consult a professional for advice. I would suggest talking to an attorney, a tax professional or a financial planner. Laws and regulations change. Simply wording something wrong can result in a totally different outcome than what you intended to do. Depending on your situation it may be desirable to make your children aware of your wishes should they want to create a memorial fund for funeral or estate planning.
TOM BURKE MISSOURI
WAYNE SKARTVEDT IOWA
Why did you feel it was important to serve on the Suffolk Foundation Board? I believe it is important to serve on the Suffolk Foundation because it gives us an opportunity as adults to give back to the breed for the many successes we have enjoyed in the past. Why did we need a Suffolk Foundation? We need a Suffolk Foundation to recognize our youth for their superior accomplishments that they have made and assist them financially as they advance into additional education. What role do you see the Foundation playing in the future of the Suffolk breed? I believe the foundation will be an important part of the future of the United Suffolk Sheep Association. Because it will give us a strong and predictable base to reward young people that have excelled in the breed. Why are you investing in the Foundation? People like to be identified with the successful projects and I believe that by having a successful Suffolk Foundation it will entice enthusiasm and excitement in our breed.
Why did you feel it was important to serve on the Suffolk Foundation Board? I feel that it is important for me to serve on the Suffolk Foundation Board of Directors as a way to give back to the Suffolk breed and breeders for all that they have given to me and my family. What started out as an FFA project with two registered Suffolk ewes in 1962 grew to a flock of 200 ewes and was our livelihood for a number of years. We have had, and continue to have, hundreds and hundreds of friends and customers thoughout the United States solely because of Suffolk sheep. Why did we need a Suffolk Foundation? We need the Suffolk Foundation to serve as an entity to facilitate the procurement of funds for the promotion of Suffolks by both the tax-exempt means of a 501(c) (3) or regular gifting. The Foundation serves as means of collecting funds to support both the United Suffolk Sheep Association and the United Junior Suffolk Sheep Association. Most gifts are given as undesignated allowing the Foundation Board of Directors to use them where the money will do the most good. Gifts may
111
Powered by FlippingBook