Heritage Group

21 Aug Heritage Group

Founder and Chairman Craig Fulmer with sons-in-law Brian Smith and Dan Morrison, co-CEO’s of the Heritage Group

 Their gift: Cash to establish the first ECCF corporate endowment fund

A cash gift is the simplest way to establish a fund in your name through the Elkhart County Community Foundation. Or, in the instance of the Elkhart-based Heritage Financial Group, to establish a fund in the name of your company.

Led by founder and chairman L. Craig Fulmer, along with sons-in-law Brian Smith and Dan Morrison, co-CEO’s, Heritage is the first business to set up a corporate endowment fund through the ECCF.

“It’s the right thing to do to help our community,” says Craig, former chair of the ECCF board of directors. “Our plan is to give a set cash amount each year in our Heritage Family Fund. Once the fund reaches its goal, it will generate income for community grants. Giving ‘X’ amount of dollars each year for ‘X’ years at a 10% interest rate brings in an impressive sum. After a while you’re earning more in interest than you’re putting in.”

Gifting through the ECCF is a perfect way to accomplish your end-of-life goals, Craig says, “because you’re absolutely ensured of the integrity of the process and that your wishes will be fulfilled. It’s exciting to realize that in under two decades, the ECCF’s endowment has grown to almost $50 million.”

He sees it growing to $100 million in the next decade. “The momentum has started; it’s like a snowball effect. If everyone gives a little and if other companies do so as well, what we’re all doing for the community will be invaluable. Our gifts will help the community in perpetuity!”

Catherine Wells-Bentz

Advantages of a gift of real estate (a home, undeveloped land or business property):

  • Ease of Giving
  • Combine multiple gifts to establish a fund
  • Receive a federal deduction
  • Reduce the size of your estate