Q & A
Questions? Answers:
Why should I support FOTF? Doesn't McCollum Land Company provide benefits to family members?
The short answer in no, not like what we do. The MLC is a corporation and is limited in their ability to provide any benefits to the family. Our organization is designed specifically for things like providing family benefit programs, For examp,e, we have the freedom to provide any family member a complimentary room at DeGray whereas the MLC only provides hotel rooms to shareholders. Our current programs include the Room at the Lodge and the Traveler Stipend and we have a programs in the works for a scholarship, historic preservation, and family access to the farm.
We have scholarships for the family at SAU. Why do we need more scholarships?
McCollums have scholarships at Southern Arkansas University in Magnolia, AR because of our family's advocacy that helped bring the university to town. These scholarships are in name of family members, but not exactly reserved for McCollum family only. They are open to anyone in the general public that is eligible. So really, we do not any scholarships anywhere. The scholarships that will be offered by FOTF are not only reserved exclusively for McCollum family members but will be much more versatile in that they can be applied to any expense of higher education outside of K-12. Though our funds are not yet mighty enough to provide huge benefits, we are growing the program and they will only go to qualified McCollum family members. It's a way to honor our family's legacy of championing education.
What are the main goals of FOTF?
Currently, we are up to 2 things: Building benefit programs for family members and working with the MLC on how to make the farmhouse, pond, and land accessible for family enjoyment. A future offering we hope to create very soon is memorial items such as benches and picnic tables for the farm and creating a space online to share heritage information and pictures- a virtual McCollum museum of sorts! You can always check the website's home page for updates on our latest info and endeavors.
Are my membership and donations tax-deductible?
They are not. We are a non-profit organization, however, we are organized as a 501(c)7 social club which can accept in-kind and monetary donations but donors cannot claim a deduction for them. This was done so that we could keep our membership closed. A standard NPO 501(c)3 has to serve the community at large and our organization only serves its members and our membership is closed to people who do not qualify to join. So when weighing our options on how to organize, we chose 501(c)7 to prevent our membership and programs from being open to the general public and only available to qualified members. Our membership is limited generally to McCollum family members.
So can non-family members join?
Nope. As a 501(c)7, we are allowed to create our own guidelines on who can be a member. This is sort of the trade-off of benefit for being a 501(c)7. Members can't deduct donations on their taxes, but the club retains the ability to be exclusive in their membership so we can limit membership and benefits to just family members. Right now, we are using the same guidelines on who can own shares in the MLC without Board approval. Those guidelines are found on the Membership page.
What's the difference between a voting and non-voting member?
All FOTF members are qualified to participate in any surveys, meetings, and events. Voting members get to vote on what those programs and events will look like as the Board presents opportunities to vote as well as vote for the Board of Directors as their terms come up. Either one you choose, you are still contributing to the success of FOTF programs for all family members.
So the McCollum Land Company and the Friends of the Farm are not affiliated?
No. We are a separate organization with a separate governing body. The MLC and FOTF share some of the same values, but are not connected. Our goal is to preserve family history and create ways for us to continue to connect.
Membership in FOTF is an investment in the continuation of our extraordinary family community and I hope you'll consider joining us.