The Next Dollar Foundation

What is the Next Dollar Foundation?

The Next Dollar Foundation is a charitable foundation formed as a non-profit, tax exempt 501c3 corporation to invest in lasting projects throughout Wells Rural Electric Company's (WREC) service territory. Your contributions are tax deductible.

How is it organized?

The Next Dollar Foundation operates with an eleven member volunteer Board of Trustees, with two from each community under the WREC service territory and one member selected at large. All of the Trustees are nominated by their communities, approved by the sitting Board of Trustees and finally approved by the WREC Board of Directors. The Trustees have a Chairman, Vice-Chairman and Secretary/Treasurer which conduct the operations of the Board. The Trustees serve to ensure that the organization meets the goal of investing in lasting projects throughout WREC’s service territory.

How does it operate?

The Foundation operates on revenues derived from escheated capital credits, outside donations and interest earned but the majority of its revenue is donated by the many members who participate by rounding-up their monthly power bill or who contribute a set amount. Without the participation of those members, the Foundation would not be able to fulfill its operational goal so... SIGN UP NOW!

Sign-Up Card

Tell me what the Foundation does?

The Foundation performs a very important function for each of the communities within the Wells Rural Electric Company Service Territory. With the revenue collected, the Foundation supports specific projects which have a direct impact on many organizations serving your community and which enrich the quality of life for the residents. In the past, the Foundation has funded many projects including: school field improvements and lighting, parks and recreation equipment, informational kiosks, cemeteries, neighborhood watch programs, historic markers, fire department equipment, in-need service organization equipment, building rehabilitation funds for community resource centers and other projects which meet the goals of the Next Dollar Foundation.

A list of completed projects, organized by the community they serve, is available for your review.

Donation Summary by Area

If there is a project you think the Trustees should consider, please review the Project Application and contact one of the Trustees from your area.

Online Forms | Officer's & Trustees

How much money is collected and invested by the Foundation?

Through members rounding-up their monthly power bills, the cents have turned into dollars and those dollars have grown over time. Since the Next Dollar Foundation's inception in 1995, it has collected over $200,526.38 and in turn, has invested over $170,819.23. The Foundation goes above and beyond the normal non-profit corporation and operates on a completely volunteer basis so the overhead expenses like recruiting, filing fees, operations and legal expenses are only 1.27 percent of the contributions to the Foundation. The Next Dollar Foundation takes pride in the fact that virtually every dollar donated is a dollar back to your community! This is in great contrast to some other not-for-profit organizations, which deduct from every donation a percentage for administration and overhead expenses.

What about Education Grants?

In addition to project contributions, the Next Dollar Foundation oversees the Education Grant Program, which provides up to four $2,000 Education Grants every year to graduating seniors and returning students.

These deserving recipients, with the assistance of the Education Grant, continue their training after high school at colleges and universities throughout the United States as well as at trade and vocational schools. In essence, if your goal is to graduate with a Bachelor’s degree, that's greatly encouraged. If, however, you desire to receive an Associate degree or to graduate from a vocational or trade school with a new skill that you will use in your career, the Next Dollar Foundation will support that too. Education Grants have been awarded for training in fields as diverse as nursing, welding and cosmetology to students who want to become teachers, marine biologists and computer programmers.
Continuing education beyond high school and immersing one's self into the knowledge and experience of life is irreplaceable and the Next Dollar Foundation encourages you to take every step possible. As we see it, not only is gaining knowledge important, its use through sharing new skills helps students become better individuals and in turn, more productive and secure workers, family members, friends, neighbors and residents of our communities.

Grant Application | Online Forms

How do I sign up?

Well, it is very simple. You can print and complete the form below and mail or return it to you local WREC office. You can also pick up the phone and call, or visit one of the Member Service Representatives in your local WREC office. Just tell them you want to sign up with the Next Dollar Foundation and we will do the rest!