Lori Jury
10-19-2007, 08:59 PM
The Endowment Fund (EF) continues to grow and is nearing $40,0000 at the end of the first five years since the EF was established! The balance in the account as of June 30, 2007 was $36,186.14 plus interest. Grant moneys from the fund have purchased two tv/vcr’s for the reunion, contributed to the paint for the train and the committee is currently working on using 2006 interest funds to finish another panel for the Memorial Wall. As the principal balance grows each year, so does the interest payment back to WMSTR. More than 300 donations have been made in support of the fund as of September 30.
When the board voted to establish the fund in the fall of 2003, the agreement made with the F-M Area Foundation was to have the fund at $25,000 at the end of 5 years. The board had agreed to contribute as much as $25,000 ($5,000 per year, if needed). At the end of the fourth year with the fund nearing $40,000, those funds have not been needed each year. In 2004 the board did approve $5,000 for the EF as the fund was not at $10,000 after the second year.
Statements of Giving were mailed to all HC participants in early October. To date, 59 members have taken or met the $100 each year for ten years challenged by EF Committee Chairperson Hartley Ellingson to grow the fund quickly. This is about 1% of the membership. 2,000 members giving $1,000 over the course of 10 years will total 2 MILLION DOLLARS! The interest would generate $100,000 for the show each year. Just imagine what WMSTR could do with an additional $100K in the budget every year! For the first time this year we have had show visitors donate to the WMSTR Endowment Fund.
The EF Committee has grown from eight members to twelve. The committee welcomes new members Katy Kerkvliet and Jim and Karen Stewart. Mark Kerkvliet serves on the committee as WMSTR board representative with Gary Muhl alternate. Other EF committee members who continue to serve are Chairperson Hartley Ellingson, Bill Nelson, Erna Ellingson, Arnie Ellingson, Ilene Osten, Mark Kuhn and Lori Jury serves as committee secretary.
Endowment Fund contributors who have not received their HC button or EF investor ribbon, should contact EF secretary Lori Jury at jljury2@msn.com (jljury2@msn.com) or 590 College Street SE Valley City, ND 58072, phone 701-845-1558.
If you would like more information on the WMSTR Endowment Fund or would like to contribute please contact any Endowment Fund committee member, WMSTR board member or the FM Area Foundation at 502 1st Avenue North Fargo, ND 58102-4804. The website address is www.areafoundation.org (http://www.areafoundation.org/). Donations can also be made online.
The WMSTR Endowment Fund Committee publishes an annual newsletter sent to all contributors as well as the board of directors. Copies will also be available at the annual meeting October 27. If you would like your name added to the newsletter mailing list please contact Lori Jury at one of the above addresses.
When the board voted to establish the fund in the fall of 2003, the agreement made with the F-M Area Foundation was to have the fund at $25,000 at the end of 5 years. The board had agreed to contribute as much as $25,000 ($5,000 per year, if needed). At the end of the fourth year with the fund nearing $40,000, those funds have not been needed each year. In 2004 the board did approve $5,000 for the EF as the fund was not at $10,000 after the second year.
Statements of Giving were mailed to all HC participants in early October. To date, 59 members have taken or met the $100 each year for ten years challenged by EF Committee Chairperson Hartley Ellingson to grow the fund quickly. This is about 1% of the membership. 2,000 members giving $1,000 over the course of 10 years will total 2 MILLION DOLLARS! The interest would generate $100,000 for the show each year. Just imagine what WMSTR could do with an additional $100K in the budget every year! For the first time this year we have had show visitors donate to the WMSTR Endowment Fund.
The EF Committee has grown from eight members to twelve. The committee welcomes new members Katy Kerkvliet and Jim and Karen Stewart. Mark Kerkvliet serves on the committee as WMSTR board representative with Gary Muhl alternate. Other EF committee members who continue to serve are Chairperson Hartley Ellingson, Bill Nelson, Erna Ellingson, Arnie Ellingson, Ilene Osten, Mark Kuhn and Lori Jury serves as committee secretary.
Endowment Fund contributors who have not received their HC button or EF investor ribbon, should contact EF secretary Lori Jury at jljury2@msn.com (jljury2@msn.com) or 590 College Street SE Valley City, ND 58072, phone 701-845-1558.
If you would like more information on the WMSTR Endowment Fund or would like to contribute please contact any Endowment Fund committee member, WMSTR board member or the FM Area Foundation at 502 1st Avenue North Fargo, ND 58102-4804. The website address is www.areafoundation.org (http://www.areafoundation.org/). Donations can also be made online.
The WMSTR Endowment Fund Committee publishes an annual newsletter sent to all contributors as well as the board of directors. Copies will also be available at the annual meeting October 27. If you would like your name added to the newsletter mailing list please contact Lori Jury at one of the above addresses.