Citizens' Center
From it's inception, the Lawrence County Senior Citizens Club has received Federal and State grant assistance for the operating expenses of the organization. These grants have been supplemented by fund-raising activities and donations. The amount of the grants received for the purpose of operating the senior center has fluctuated up and down somewhat, but there has been on growth in funding to meet the growing cost of operations. THEREFORE,
Recognizing the need for the existence of this organization in the community;
Recognizing that we are entering a period of time when a greater percentage of the
population will be senior citizens;
Recognizing that as long as people continue growing older they will face many changes
and challenges in their lives;
Recognizing that many seniors need various services, programs and activities to maintain
a healthy quality of life; and
Recognizing that there is an urgent need to develop additional reliable sources of
revenue for the operation of the Lawrence County Senior Citizens Club;
Based upon the vote of the Membership on August 16, 1999,
We the Board of Directors, approve the establishment of an endowment fund to be known as "Lawrence County Senior Citizens' Endowment Fund". Terms and conditions for this fund are set forth below:
"The Fund", is established to be a perpetual fund to generate revenue for the operation of Lawrence County Senior Citizens' Club, Inc. (LCSC).
To insure the integrity, safety, and prudent management of The Fund, the following terms
and conditions are established:
DEVELOPMENT
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Additions to The Fund will be made with donations from individuals, groups, businesses, etc., which are specifically designated for that purpose, and with proceeds from special ear-marked fund-raisers.
Donations and fund-raiser proceeds designated for The Fund will be received by the LCSC, and a special Endowment Fund Receipt will be issued. Donations may also be made directly to the financial institution which is chosen to serve as the custodian of The Fund, in which case the financial institution will issue a deposit receipt for the donation, and will advise the LCSC of such donation for the purpose of maintaining permanent records.
The LCSC will prepare the necessary form to document donations at or above the limit for which the Internal Revenue Service requires proof of deductability and furnish to the person making the donation.
The LCSC reserves the right to accept or decline donations in accordance with the philiosophy and purpose of the LCSC.
