What Better Legacy?

Remembering Phil Krug (1954 – 2018)

Through an endowed fund at the community foundation, the estates of Phil and Glenda Krug are continuing to provide support for charities they supported during their lifetimes.

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

Upon her death, his wife Glenda gave 1% of her trust assets to the foundation, where she set up a designated fund to support two local agencies. Since 2009, Glenda’s fund has provided support to CAPS and Big Brothers Big Sisters, something Phil was very proud of.

“Now, each of our children—Katie Jarvis and Alex Krug—will make a $5,000 gift from their mother’s estate to the fund,” he 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 difference endowed funds can make, Phil included the foundation in his own estate plan. Phil decided that, at his death, the name of Glenda’s Donor Designated Fund would change to the Phil and Glenda Krug Family Fund. The family fund will receive proceeds from life insurance and from the sale of appreciated stock held by Krug’s estate, increasing the fund’s value so it would be able to create earnings of $50,000 annually. The earnings will now be distributed to various causes Glenda and Phil supported during their lifetime.

Phil believed “we all ought to consider this—when there’s a need, somebody or some group steps up to fill it.” The foundation will continue to help fulfill Phil’s dream of touching a lot of lives by managing the family gift to ensure its 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,” Phil said.

To learn more about Funds for the Future and leaving a lasting legacy through estate giving, call our office at 785-823-1800.

To learn more about the great work of our donors and grantees, click here.