A tradition of service in Stuart

Tate Schmaderer plans to be part of the future of Stuart, Nebraska, where the community's favorite project is always the next one.

"When I think 'Stuart, Nebraska,' I think progressiveness," Tate said. "We continually find a way to get things done. Even if we know the task isn't going to be easy, there are always people to call on."

Tate's family history interlaces that progress. His great-grandfather, J.G. Brewster, was recruited by townsfolk to help establish Tri-County Bank in 1945. In its 75-plus years, TCB has remained true to its mission of helping grow the communities it serves.

Tate developed a fondness for the community banking world he grew up in. After graduating from Nebraska Wesleyan University, he remained in Lincoln and worked at a local bank. When the COVID-19 pandemic and accompanying quarantines arrived, his thoughts drifted to north central Nebraska - to his home.

"I always wanted to be in the relationship side of banking," he said. "I think with how much isolation there was, I was reminded how much I needed to be around my community and my family."

He returned to Stuart and TCB, joining his grandfather, Don Schmaderer, and father, Jon Schmaderer, in upholding J.G. Brewster's community banking philosophy.

"They set a good example for me, and there's lots of other examples in the community, too," Tate said. "Even people who don't live here anymore that still make a commitment to Nebraska."

The family also played a role in creating a Nebraska Community Foundation affiliated fund for Stuart. While doing his work with TCB in the 1990s, Don came across NCF's Transfer of Wealth Study and learned a substantial chunk of the community's wealth could leave the area if local leaders did not act to keep some of it in Stuart and Holt County. That's still the case. Nebraska Community Foundation's 2021 Transfer of Wealth study update found that $1 billion of Holt County's wealth will transfer between generations within the next 10 years. Just 5% of that amount given as charitable gifts to unrestricted endowments would secure $50 million for residents to invest in the future.

Don started researching NCF and sharing his findings with colleagues and peers. Those initial research trips led to Don and other community members joining forces in 2000 to establish the Stuart Community Foundation Fund (SCFF), an NCF affiliated fund. Together, they set out to inspire their fellow residents to invest in Stuart's future.

Tate is among those inspired by that tradition of giving back. In lieu of giving treasure now, at a time when the 25-year-old doesn't have the same kind of assets as more established residents, Tate decided to do what he could. He made a planned gift.

"I wasn't sure I was going to be able to contribute anything right now," he said. "But I knew that one thing I could commit was a portion of my retirement plan."

Tate's gift, a beneficiary designation on his retirement plan, is the result of a simple process. Beneficiary designation gifts are among the most flexible of all charitable gifts - donors can still take distributions or withdrawals from retirement, investment, or bank accounts. They can also change their minds at any time in the future for any reason.

Knowing Tate shares that passion for giving back is special to his parents, Jon and Jennifer.

"Jennifer and I are very thankful that all of our children share a deep connection to their community and the surrounding area," Jon said. "Tate is a community banker and takes that role very seriously. He understands that you have to be 'all-in' and planned giving is just one really natural step to living out that passion."

Leaving something for future generations is the least Nebraskans can do to allow future generations to enjoy the lifestyle, comfort, and security offered by rural communities, Tate said. "If we can play a role down the road in our children or next generation being able to have that, we should offer that to them."

Nebraska Community Foundation's Five to Thrive campaign asks you to consider leaving just five percent of your assets to your favorite hometown or to NCF to benefit all of our communities. If we all left five, that's well over $47 billion that could be reinvested in our communities over the next 10 years. When we all leave five, our hometowns thrive! Visit www.fivetothrivene.com to learn more!

For information on how you can give back to your hometown, contact Nebraska Community Foundation's Office of Planned Giving, 402.323.7330 or [email protected].