Generational Philanthropy with Jim and Vicki Lust
Jim and Vicki Lust of Aberdeen have partnered with the South Dakota Community Foundation (SDCF) to facilitate their charitable giving since 2012. They began down their path of philanthropy with the Jim and Vicki Lust First Foundation, a designated fund set up to support the St. Mark's Episcopal Church in Aberdeen. More recently, they established a second fund–this time going with a Donor Advised Fund (DAF) for more flexibility within their charitable goals.
Jim and Vicki joined Pat Gallagher, SDCF Community Development Coordinator, to discuss their journey of philanthropy over the last 11 years.
When asked what inspired them to start a fund through SDCF, Jim shared: “We had some previous experience with Fidelity with a donor advised fund, and we thought it was marvelous that the South Dakota Community Foundation was starting funds; we wanted to be a part of it.”
The Lusts shared more about the differences between their two funds established, and the goals they hope to achieve by having a DAF.
“As the needs of the community have changed, it’s nice to have the flexibility to choose where our donations go,” shared Vicki about establishing their DAF in 2019.
When asked how partnering with the SDCF benefits them, both Vicki and Jim emphasized that they are happy with how easy it is to navigate their charitable goals.
“It’s really seamless to award a grant or put in a contribution. Any questions I may have are nearly always answered within an hour,” said Vicki.
The Lusts support several charitable organizations and “find it very easy to do so through the Community Foundation,” added Jim.
“ Someone helped build schools, libraries, and YMCAs, and we hope to leave that legacy for the next generation.”Vicki Lust
Jim and Vicki were asked what philanthropy means to them, and both spoke about the importance of continuing to support the community that has supported them. They view it as vital work to be done, and a privilege to be able to do so.
“You know, someone did it for us. Someone helped build schools, libraries, and YMCAs, and we hope to leave that legacy for the next generation,” emphasized Vicki.
The Lusts have given back charitably to organizations and programs such as the Aberdeen Public Library, the Fine Arts program at Northern State University, the United Way, the Aberdeen Family YMCA, and many more. Their heart is in Aberdeen, and it’s their home—but Vicki noted their DAF is still young. She hopes their donations will more broadly impact the State of South Dakota down the road–a place they hold near and dear to their hearts.
Donor advised funds and you
To learn more about Donor Advised Funds and South Dakota Philanthropy, click here.