Ralph C. Vonnegut, Jr. Fund

Benefits All Who Share a Love for Lake Maxinkuckee

Ralph Vonnegut, Jr. grew up in Indianapolis and attended Shortridge High School. As a young man he earned the rank of Eagle Scout and spent his summers at Lake Maxinkuckee in Culver, Indiana.Mr. Vonnegut was a graduate of Wabash College and went on to a career as a farmer and stockbroker. He was an avid outdoorsman, enjoyed nature, sailing, and kayaking and was a voracious reader.
With a love of Lake Maxinkuckee in his heart, Ralph eventually returned to the Lake as a full time resident and named Marshall County Community Foundation as the beneficiary of a Charitable Remainder Unitrust.  After he passed, his family expressed their wish to see these assets reflect his love of the area by providing benefit to Lake Maxinkuckee.  The Ralph C. Vonnegut, Jr. Fund was established in 2007 with an endowment fund of $400,000. Every year, grants are awarded to environmental, educational, or recreational projects directly related to Lake Maxinkuckee.
A Charitable Remainder Trust provides the most flexibility and potentially the greatest tax savings of all the Community Foundation’s planned giving options. 
A Charitable Remainder Trust is a lump-sum gift to the Community Foundation, from which donors or their designated beneficiaries receive annual payments. These payments may be either fixed or based on a specified percentage of the trust’s changing value, as specified by the donor. Once the beneficiary(ies) are deceased, the remainder of the trust is added to an endowed fund at the Community Foundation, created or selected by the fundholder.
There are two kinds of Charitable Remainder Trusts, defined by the payment option you select:
An annuity trust pays a fixed dollar amount each year, equal to at least 5% of the value of the assets placed in trust. $100,000 placed in trust will generate $5,000 in annual income, regardless of market conditions.
A unitrust pays a set percentage (at least 5%) of the value of the trust’s assets as recalculated each year. Payment amounts will increase or decrease with the annual market value of the trust’s assets.