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Archbold Area Foundation Assets Nearing $900,000




The total assets of the Archbold Area Foundation are nearing $900,000, Don Spohler, Foundation president, told the Archbold Area Chamber of Commerce Monday.

Speaking at the chamber noon luncheon, Spohler said when the Foundation started about 25 years ago, all assets were invested in certificates of deposit.

About 10 to 15 years ago, the assets had grown to the point that the Foundation could begin investing in other areas, and realizing a larger gain. Funds were split 40% into fixed interest rate investments, while 60% were invested in equities, such as stocks. The Foundation maintains a very small amount of its money in cash, he said.

The Foundation’s goal is to build a large amount of money that is invested.

Any money that is returned to the community, in the form of scholarships, cash donations, etc., comes from interest generated by the investments.

Spohler said 2003 and 2004 were not good years in the stock markets, and as a result, for those two years, the Foundation could not return proceeds back to the community.

But, in the last four years, “a lot has happened,” Spohler told chamber members.

The Foundation has followed its conservative approach to investing and has earned 15% or better returns on its investments.

At the start of 2003, the chamber had $250,000; he said the total now is near $900,000.

“This year, we’re approaching $1 million. That’s not small change.

“The chamber is beginning to take a look at itself,” he said.

Those changes will include tightening the rules and bylaws on such topics as succession of officers and reporting on investments.

Funds

Two new funds were established within the Foundation, Spohler said.

The John R. Trudel Memorial Scholarship Fund was started by John and Janette Trudel, rural Archbold, in honor of their late son.

The money is invested, and at the end of each year, depending on earnings, $1,000 college scholarships are distributed.

The second fund created is the Archbold Good Samaritan Fund.

Spohler said Harold and Joan Plassman, Archbold, seeded that fund.

Each year, interest earned by the fund is turned over to Archbold’s Shepherd’s Circle.

The Circle pairs persons in need with mentors from the community.

The goal of Shepherd’s Circle is for the mentors to teach persons how to make good decisions and pull themselves from poverty.

Projects

Spohler said the Foundation has been involved in several community projects.

The foundation assisted Archbold Boy Scout Troop 63 in the purchase of a utility trailer, provided funds to the Archbold Community Theatre to insulate Giffey Hall in Ridgeville Corners, and gave money to the Black Swamp Arts Council.

The foundation also helped fund the Archbold Fire Department community cardiopulmonary resuscitation training class.

Archbold Area School District teachers who continue their education receive funds from the foundation.

The foundation also contributed to the Groundbreakers youth group that built a new home for a family that was living in substandard housing.

Last year, the foundation also gave out $18,000 in college scholarships to Archbold High School seniors.- David Pugh

—— Give yourself a year and read the Bible cover to cover.


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