Southern Indiana Business Report
JASPER – The Ruxer Foundation has transitioned from a private foundation to an endowment of the Dubois County Community Foundation.
The Alvin C. Ruxer Foundation was established in 1983 by Jasper entrepreneur and businessman, Alvin Ruxer. Ruxer founded Jasper Engines & Transmission Exchange, Ruxer Ford, the JASPER State Bank and Ruxer Farms. The foundation supported Ruxer’s philanthropic interests with a focus on religious institutions, youth sports, equestrian causes and other community needs.
Upon Alvin’s passing in 1991, his nephew Robert became the administrator of the Alvin C. Ruxer Foundation, continuing his uncle’s philanthropic legacy. Later, the foundation’s name was shortened to the Ruxer Foundation, but its focus remained the same.
The decision to transfer the $2.9 million asset came at the discretion of the Ruxer Foundation board of directors as a natural succession after 41 years of operating as a private foundation.
The Ruxer Foundation officially transitioned to the Community Foundation this past December, and the Ruxer Endowment was established.
“The Community Foundation will ensure the Ruxer Endowment continues to reflect the values and vision of Alvin C. Ruxer, ensuring the family’s legacy endures for generations,” Clayton Boyles, executive director of the Community Foundation said.
The Ruxer Endowment, a donor-advised fund, will generate approximately $115,000 in grants annually with a continued emphasis on religious institutions and equestrian causes.
“Our decision to transition the Ruxer Foundation is a succession plan that engages the next generation in carrying forward our commitment to this community while preserving Uncle Alvin’s legacy,” Robert Ruxer said. “The Community Foundation is a local, reputable and trustworthy Partner – qualities that give me confidence our family’s values will be honored.”