The Rico Legacy Endowment is a simple and lasting way for you to make a difference in the community. The Endowment is a permanent charitable fund to improve Rico now and for future generations.
Charitable gifts donated to the Rico Legacy Endowment are pooled with other community funds within the Paradox Community Trust. This way, interest grows faster, administration fees are less, and the potential for matching funds to secure multijurisdictional state and local grants and corporate donations is much greater.
The Paradox Community Trust (PCT) is a 501(c)(3) supporting organization that serves as a vehicle to receive, hold and invest charitable dollars raised by participating local Paradox communities, including Rico.
Monies raised by the Rico Legacy Endowment will be used only in Rico. The Rico Center will decide how the interest on these funds are spent in the community.
About America’s Transfer of Wealth Opportunity:
The United States is on the precipice of the largest inter-generational transfer of wealth in history as baby boomers begin to pass along their assets. A 2011 study from the Center for Rural Entrepreneurship estimated the U.S. household inter-generational transfer of wealth over the coming 50 years at $75 trillion. If just 5% of this projected wealth transfer were donated back to hometowns across America it could result in $3.75 trillion in new community endowments.
What does this mean for Rico? With limited economic resources, regional communities’ ability to capture and retain a portion of this wealth will have direct and positive economic benefits and will provide the means to preserve our community’s identity.
Rico’s Transfer of Wealth Opportunity: