Your cooperative has the right to forfeit its unclaimed funds for use in your community or for worthy statewide causes. But has your cooperative been exercising this right?

If not, the Federated Youth Foundation (FYF) can assist you with the procedure necessary to take advantage of this opportunity, and will, at nominal costs, administer your funds and distribute them at your request for scholarships or charitable purposes.

As a Wisconsin non-profit organization, exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code, FYF is here to serve your cooperative, credit union or mutual organization operating in Wisconsin. Contributions received from a Foundation member are accounted for separately under the name of that cooperative, except for that portion of a contribution the donor places in a general fund, known as the Cooperative Education and Training Fund.

Federated Youth Foundation is a vehicle for receiving contributions and unclaimed forfeiture funds held by cooperatives. Unclaimed funds contributed to the Foundation may be used for scholarships and charitable purposes.

The Foundation is administered by Cooperative Network. Under a custodial agreement with M&I Trust Company, Madison, unused funds are invested and earnings used to pay administrative expenses. A portion of earnings from investments that remain are then allocated to each member's account with the remaining earnings allocated to the Cooperative Education and Training Fund for special projects.

The Foundation is governed by a board of seven directors, elected by the membership.

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The Foundation simplifies the handling of unclaimed property for members. Because of its tax exempt status and professional administration, FYF protects contributing organizations from potential legal and administrative problems regarding distribution of unclaimed property. Cooperatives have the option of designating funds for local charitable purposes (with FYF board approval).

By pooling the funds of many organizations, Wisconsin cooperatives will be able to achieve statewide educational and charitable objectives that would not otherwise be possible.

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Local co-ops may deposit funds in individual accounts to be used as awards for scholarships and charitable purposes. Guidelines for selecting scholarship recipients have been developed and are available for member use.

The Cooperative Education and Training fund is a general fund established to finance statewide programs in the areas of education, charitable purposes, and rural cooperative development. The fund is administered by the FYF board of directors.

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Charitable Contribution News Release
FOR A PRINTABLE RELEASE CLICK HERE

On (date), (Co-op name) announced the donation of $(dollar amount) to the (charitable organization). This donation, according to (President's name), President of the Board of Directors of the Cooperatives, is an example of (Co-op name)'s commitment to the welfare of the communities it serves. The funds for the donation come from the Cooperative's unclaimed patronage refunds. Since September of last year, (Co-op name) has donated more than $(total donations year-to-date) to local charities and for scholarships. (CEO's name), manager of (Co-op name), states that these donations are an example of the cooperative's commitment to give something back to the community.

These unclaimed patronage refunds that funded this and previous donations are managed by the Federated Youth Foundation (FYF), a non-profit charitable foundation serving cooperatives across Wisconsin. The FYF's mission is to work with its 75 member cooperatives to fund scholarships that will further the education of deserving people and to support charitable activities. The FYF focuses much of its activities on programs for young people. Requests for charitable donations or scholarships through the FYF should be made to (Co-op name).

Scholarship News Release
FOR A PRINTABLE RELEASE CLICK HERE

On (date), (Co-op name) announced the donation of $(dollar amount) in scholarships for local students. Recipients of these scholarships included (recipients' names and hometowns). According to (President's name), President of the Board of Directors, (Co-op name) recognizes the importance of good education and is committed to expanding the educational opportunities for worthy students in our communities. The funds for the scholarships come from the Cooperative's unclaimed patronage refunds. Since September of last year, (Co-op name) has donated more than $(total donations year-to-date) to local charities and for scholarships. (CEO's name), manager of (Co-op name), states that these donations are an example of the cooperative's commitment to give something back to the community.

These unclaimed patronage refunds that funded this and previous donations are managed by the Federated Youth Foundation (FYF), a non-profit charitable foundation serving cooperatives across Wisconsin. The FYF's mission is to work with its 75 member cooperatives to fund scholarships that will further the education of deserving people and to support charitable activities. The FYF focuses much of its activities on programs for young people. Requests for charitable donations or scholarships through the FYF should be made to (Co-op name).

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Todd Rosvold
President
  Pulaski Chase Cooperative
Pulaski, WI