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Paul H. and Anne B. Gardner Memorial Fund How a termination became an endowment . . . In 1959, Anne B. Gardner established a charitable remainder trust to care for her sister and then to serve nonprofit organizations in Adams County. Forty-four years later, distance, management fees, and a feeling that local leaders were more attuned to community needs and opportunities led the Gardner trustees to the Community Foundation. “As trustees, we recognized that we could terminate the trust and transfer its assets to the Community Foundation, ensuring that Mrs. Gardner’s wish to support nonprofits was fulfilled and that her generosity continued,” said Kit Sullivan, former trustee. The trust terminated in late 2003 and its assets gifted to the Community Foundation forming the Paul H. and Anne B. Gardner Memorial Fund. The Community Foundation now handles all aspects of administrative, fund and grant management, reporting to the IRS, and making sure the Gardner legacy continues while serving the people of Adams County. |
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