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Legal Notic* Legal NoticeTHE VAN WERT COUNTY FOUNDATION SUMMARIZED FINANCIAL STATEMENTAS OF DECEMBER », 17PAppraised 12-31-70The Clara Anderson Memorial Fund ........... $ 29,959.56 $ 29,395.56The Gaylord and Eliza Saltzgaber Music Fund 92,254,94 464,619.03The Sax ah J. Balyeat Memorial Fund..................5,807.50 9,743.54The Charles L. Ireland Memorial Fund................7,500.00 7,916.72The Clarence McConahay Memorial Fund .... ' 200.00 394.63The Charles. G. Church Memorial Fund..............18,831.46 19,594.13The Fergus Memorial Fund................:.. 6,500.00 21,058.23The Wassenberg Art Fund..................;.. 367,844.77 624,883.51The Woodruff Mausoleum Maintenance Fund,. 2,000.00 4,351.79The G. A. Berger Memorial Fund ...............218.00 327.15The Delbert N. Fair Memorial Fund ..................2,000.00 2,315,80The John D. and Nellie S. Ault Fund ..................867,751.29 876,172.62The Frank W. Leslie Memorial Fund ................s.ooo.oo 5,124.08The Dora Arnold Memorial Fund ......-..........5,000.00 6,178.25The Kerns and Margaret Wright Memorial Fund 972,27The Kerns and Margaret Wright Trust Fund .. 452,502.27 452,502.27The I*. G. Pur mart Black Inc. Memorial Fund 48,709.85 57,304.71f 1,411,919.69 $ 2,081,854.29INVESTMENT*Beal Estate Mortgage LoansLand Contracts ..,.........Debentures .................Federal Savings and Loan .Stock ........................Real Estate.................Home Loan Bank ...........School Bonds................Cash.........................•477,966.2822.90%12,069.350.58 %114,682.995.51 %325,929.8335.65%34,553.001.66%846,253.0340.72%154,372.657.41%100,000-004.80%2,040.91.10%13,986.25.67%$2,081,854.29100%ASSETS' USED FOB CHARITABLE PURPOSESHeist* nd Woods *.......$ 3,514.00Waffsenberg Art Center .............................31,£93.28SUMMARIZED OPERATING STATEMENTJanuary 1, 1970 to January 1, 1971 INCOMEU. 8. Government Interest ....................f 2B,::'-3.18Mix. and Land Contrast interest...................6.U2.96Debenture Interest................................7,739.80Savings and Loan Interest ............................1,15 -33Stock Dividends ..............................................................24.US.77Rental-Commercial Real Estate ..............................10,5,00Farm Income.......... —.............................7,1?MSMiscellaneous .............................................li'^.coKern# and Margaret Wright Trust................24,20-.COTotal Cash Receipt*........................$ 105,341 .fr)Profit on Sale of Govt. Bond ..........................5C-*. .01Profit on Gale of Real Estate.............................2,2s;,ojf 108,09^ lt;5t, • DISBURSEMENTSAdministration and Operating Expense Administration ExpenseOffice supplies, telephone, cleaning and audit.. $ 670. ocOffice rent...................................................420.0-Publishing Annual . Report, lights, maintenance,flowers, lock box ......................................480.63Secretary ........................................3,525.00Executive Secretary ......................................................2,200.00Arthur Young and Co. ................. —.... 175.00Bond and Liability Insurance ...................................484.00Operating ExpenseReal Estate tax................................ f 4*i!25‘25Insurance .......................................938.00Operating cost Of farm. ..................................3,177.4®Maintenance .........................................3,953.76Depreciation .................* • • *..........’♦ • • • 3,754.01$ 8,054.6316,131.51Total Administration and Operating Expense $ 24,186.14MANDATORY PERSONAL BEQUESTS Gaylord and Eliza Saltzgaber Music FundMarjorie L. Scheper ...........................♦ 3'522*9$Margaret S. Ghormley ......................... 1,080.002,160.00Kerns and Margaret Wright Trust FundKiman Wright .................................♦ 19.618.85Nellie Louthan ............................... 1,200.00$ 20,818.85Total Mandatory Persona! Bequests ..............% 22,978.85CHARITABLE BEQUESTSSaltzgaber Music FundJerry Drake, Robert Cochran, Kay Compton,Lori Phillips, and Karen Snyder ............ $ 6.000.00City Schools Music Department ..................3,000,00The John D. and Nellie S. Ault FundLeslie Stenven, Kenneth Hoersten, William Collins. Sandra Sipe, Steven Van Eman, Daniel Friedley, Robert Mofcycka, Linda Fennell,Sharon. Dietrich, Harry Jones, BeeW Smith,Linda Linn, John Dull, Sherry Richcreek, John Stemen, Dana Gamble, Ron DeLong, JayShutt, and Jay Cowgill ..................... I 14,300.00Van Wert County Extension Service ................1,500.00Y.M.C.A...................................... 2,800,00Y.W-C.A............................................................................300.00Wassenberg Art Fund .Roger McMichael, Joyce Harrow, CraigJW kinson, Linda Swoveland, David Brown, Grlt;_„ ory Schumm. Sharon McDonough, and JudyJones .......................................Wassenberg Art Center9,000.00Custodian, supplies and maintenanceFrizes and Exhibits ................Taxes ...............................Depreciation ........................11,057.01L. G. Putmort Black Inc. FundTrophies and Cash Awards........................................i,biw.S4Bequests Of Various FundsY-M.C.A..................Y.W.C.A...................Heistand Jaycee Park ....Van Wert County Hospital BrumbacK L5brar.v Park ..City of Van Werl Parks ...Urban. Renewal ...........9,013.689$r*7*500*00$1,291.002,144.764,304,02822.662,494,57*I1,450.003,650,001,163.681,000.0050.00200.001,500.0018,500.00Total Charitable Bequests ....................................? 57,354.23RECAPITULATIONIncome ........................................ f 108,097.00DisbursementsOperating and Administration Expense ............f 24,188.14Mandatory Personal Bequests...............22.078.85Charitable Bequests..................................................57,^4.lt;a| 104,519.22Gain in 1970 ......................................................................♦ 3,557,78Breakdown of Gain for 1870Cash gain for year ••••■• ................... *Long t®rm profit Govt. Bond ....................................soo.uoLong term profit real estate ....................................2,250.00I 3,577.78Complete details regarding each bequest to the Foundation are avail, able at the office of the executive secretary, 100E. Main St., Van Wert, Ohio.THI VAN WERT COUNTY FOUNDATIONPresident, Kenneth Koch; Vice President, J, P. Bailey; Secretary, S, J. Walters; Executive Secretary, L. J. MitchellThe TrusteesThe Van Wert County FoundationW* have examined the accompanying cash basis statement of assets and fund balances of the Van Wert County Foundation as of December 31, 1970 and the statement of cash receipts and disbursements and reconciliation of fund balances for the year then ended. Our examination was mada in accordance with generally accented auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary tn the circumstances. The foundation’s Investment in securities are shown in the accompanying state-ment at market value.In ow opinion, the statements mentioned above present fairly the assets and fund balances of The Van Wert County Foundation at Decem* bar 31, 1970 and ita cash receipts and disbursement for the year thentndcd,ARTHUR YOUNG COMPANY Certified Public Accountants
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Van Wert Times Bulletin
Van Wert, Ohio, US
Mon, Jun 07, 1971
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OH, USA 22 Nov 2019
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