Lacey Trust makes 50th annual grant to local groups

Local News

February 23, 2010

By DUANE NOLLEN

OSKALOOSA — For half a century, The W. Seymour Lacy Trust has donated money to local organizations that make a difference in children’s lives.

“This is the 50th annual report of this trust,” attorney Hugh Faulkner told the recipients of grant checks gathered at the Mahaska County YMCA Friday morning.

Lacy came to Oskaloosa in 1899 as the general secretary of the Oskaloosa YMCA. While in Oskaloosa, Lacy married Gertrude Spencer, a member of one of the most prominent pioneer families in Oskaloosa. Lacy later left Oskaloosa to become the general secretary of the Bridgeport, Conn., YMCA and later the National Board of the YMCA.

Lacy never forgot his ties to Oskaloosa, and when he died in 1957, he willed an annual donation from his estate to Oskaloosa organizations.

The Trust makes two payments to organizations: a specific amount and then the balance of 5 percent of the fair market value of estate investments.

This year, William Penn University received $2,500; the Oskaloosa YMCA, $6,200; The Salvation Army, $1,000; Mid-Iowa Council of Boy Scouts of America, $1,000; and Oskaloosa Girls Inc., $1,000.

The balance of the estate donations went to the following organizations: Oskaloosa Public Library, $4,988.45; Oskaloosa YMCA, $54,872.92; Mid-Iowa Council of Boy Scouts of America, $7,482.67; Oskaloosa Girls Inc., $9,976.89; YMCA of Bridgeport, Conn., $27,436.46; and National Council of the YMCA, $19,953.79.

The total of the disbursements for 2009 was $136,411.18.

For the Lacy Trust, 2009 was “a very good year,” said Wells Fargo VP Trust Officer Barry Farmer.

Farmer said it is not unusual for a trust to make donations for 50 years.

Depending on the investment strategy, if a trust has a 4 percent payout, it can be sustained “indefinitely,” Farmer said.

The recipients of the donations said the money will be put to good use.

“This will be used to purchase children’s materials of all types,” said Oskaloosa Public Library Director Suzann Holland.

Jan Allard of Oskaloosa Girls Inc. said the contribution will be used to buy Girl Scout troop badges, pins and other things they need.

Herald Editor Duane Nollen can be reached by email at oskynews@oskyherald.com