Phil Krug & Family

What Better Legacy

Phil Krug is passionate about giving and about how the Greater Salina Community Foundation helps him make the community and region a better place to live and do business through endowed funds.

Upon her death, his wife Glenda gave 1 percent of her trust values to the Foundation where she set up a Designated Fund to support two local agencies. Krug is proud of the gifts that Glenda’s fund has given since 2009 to CAPS and Big Brothers Big Sisters. “Now, each of our children — Katie Jarvis and Alex Krug — will make a $5000 gift from their mother’s estate to the fund,” Krug said. “It’s good to teach your kids to give back. What better legacy can you give than that, to understand they need to make their community better?”

Because he saw the power of endowed funds to continue to make a difference, Krug has made his own estate plan to include the Foundation. At his death, the name of Glenda’s Donor Designated Fund will change to the Phil & Glenda Krug Family Fund. The Family Fund will receive proceeds from the sale of appreciated stock held by Krug’s estate along with life insurance proceeds that will increase the fund’s valuation to the level necessary to create earnings of $50,000 annually. Those earnings will be distributed to various causes Glenda and Phil supported during their lifetime.

Krug believes “we all ought to consider this — when there’s a need, somebody or some group steps up to fill it.” The Foundation helps him fulfill his dream of touching a lot of lives as it manages the family gift to GSCF to have a positive effect into perpetuity.

“People say I’m generous. No, I’m not. Glenda was a giving person. We just want to share with our community,” Krug said.

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