How an Agency Fund helps Rianda House plan ahead
Rianda House began with a legacy gift. When St. Helena realtor Jean Rianda passed away, she left her home to become a gathering place for the town’s older adults. Neighbors, service clubs, and others pitched in for renovations, and Rianda House opened in 2008.
Eighteen years later, Executive Director Maury Robertson calls it “a community hug of older adults.” Participation has roughly tripled, and every program is free. That’s on purpose: about 40% of participants live on less than $50,000 a year. “If we charged even a little bit, that would put off the people who need it most,” Maury says.
That means its $850,000 annual budget relies almost entirely on private giving, which uncertain economic times put at risk. When two major legacy gifts arrived in recent years, they changed everything for the better. Without them, Maury says, “we would have had to be a very different organization.”
Making a one-time gift last
Rianda House’s Board invested a significant share of the bequests they’d received in an Agency Fund at NVCF. They treat it as a quasi-endowment, drawing a small percentage for operations only as needed. “I looked at it this morning,” Maury says, “and it just gives me that feeling of, okay, this year is going to be okay.”
Agency Funds give nonprofits access to the same professional investment management infrastructure that the Foundation built to steward its own assets, typically at a lower cost. “The Community Foundation understands nonprofits,” Maury says. “You bring all of that awareness and the checks and balances into the picture.” Our team also helped Rianda House set up a framework for its money: an endowment Fund, an operating reserve, and an operating Fund.
Why legacy gifts matter
Rianda House is the only senior center in the Upper Valley, drawing people from Calistoga, Angwin, and Yountville. A legacy gift keeps the doors open and helps it reach the many older adults it isn’t serving yet.
“People think of elderhood only as a time of need, but older adults also have a lot to give,” shares Maury. “We don’t just serve older adults; we mobilize them to serve. When elderhood is embraced in this way, we increase life expectations for everyone.”
Jean Rianda’s gift started it all. With an Agency Fund at NVCF, the next generation of legacy gifts can keep that community hug going for a long, long time.