What started out as a trust fund to support local scouting projects became something of a mystery to a local committee that needed access to the money.
The fund was called the Aldrich Trust. But because of many changes over the years in banks’ names and headquarters, it was transferred out of Great Bend, frustrating the efforts of local scouting enthusiasts.
Today, thanks to efforts of local scouts, a local attorney and the Golden Belt Community Foundation (GBCF), the money is safe and sound in what is now called the Aldrich Endowment Fund.
GBCF administers the fund, which must be used by Boy Scout troops that are registered in Great Bend. Previously, the Girl Scouts also were involved but that organization spent its share to build Camp Aldrich, which is owned by Barton Community College.
The fund amount is just under $1 million.
Barry Bowers, a member of what he calls the “unofficial committee,” took his concerns about the lack of local control to Christy Tustin, GBCF executive director, late last year.
“My question was: is it possible to bring the trust fund back under local control?” explained Bowers, who is an Eagle Scout. “My concern was that we might lose all track of it in the future.”
The late Clarence Aldrich, who had a passion for scouting, set up the trust in 1960 at what was then American State Bank at Main and Forest.
“Then, for quite some time, we didn’t know where the money was and didn’t know who to ask about it,” Bowers recalled. “The late George McKown, who established the local committee, tracked it down to a large bank on the East Coast.
“That bank would send a check now and then but the funds were earmarked for the Quivira Council of the Boy Scouts in Wichita,” Bowers said. “My fear was it would be used for salaries and administrative costs. The money is not to be used for regular operating costs.”
A portion of the boys’ fund had helped put in the Barton Community College pool; a classroom at BCC is dedicated to Aldrich.
The fund also has paid for scouts’ registration and charter fees in an effort to break down barriers for anyone who wants to become a scout. Past projects included buying recruiting materials, setting up scholarships and paying the instructor/lifeguard at the BCC pool.
GBCF
Bowers noted that when he approached GBCF about his concerns, “Christy Tustin indicated there may be a way to bring the fund back to Great Bend. She suggested seeking the help of local attorney, Jane Isern.
“Christy and Jane deserve much credit for their invaluable work in establishing what is now an endowment fund right here in Great Bend. Christy created a document with specific guidelines, earmarking the money for its intended purposes,” Bower continued. “We went to court and the judge okayed our requests.”
The trust was dissolved and the Aldrich Endowment Fund was established. The GBCF board of directors ultimately controls the fund “but now we have more flexibility than in the past. And we have someone to talk to,” Bowers commented.
The small local committee now consists of Bowers, Larry Westfall and Carl Heilman. They will discuss possible projects and take recommendations to the board when appropriate. The late Dr. Bill King also was a member.
Tustin noted that “a local connection ensures this money will be here for the long-term. Without Barry and other scouts, who knows what could have happened to this fund? When local people are involved, there will be better outcomes,” she continued. “Whenever we bring a fund back home, it is a permanent and thoughtful solution – no matter how old the fund is or who serves on the Foundation’s staff in the future.”
Since GBCF will serve central Kansas in perpetuity. Tustin encouraged anyone who knows about an idle trust fund to give her a call.
“I can’t know for sure if we can help but there is a possibility,” she commented. “It takes research and a high level of commitment. All situations are different but we will help if we can.”
At $30.4 million in total assets and more than 200 funds under management, the Golden Belt Community Foundation has been connecting people who care to causes that matter since 1996. Golden Belt Community Foundation exists to provide non-profit organizations in central Kansas with a permanent source of support and to serve as a vehicle for charitable giving for donors. GBCF serves the counties of Barton, Pawnee, Rush, and Stafford. For more information about Golden Belt Community Foundation, call (620) 792-3000 or visit their website at www.goldenbeltcf.org.
