The Beacon Community Foundation held its 29th annual meeting Wednesday, April 17 at the Nemont Friendship Room at the Museum Visitor Center.
There were about ten in attendance.
Financial reports were presented by Darrel Tade, CPA. Beacon started 2023 out with a balance of $1.822 million and brought in new funds through donations, dividends, interest, rental income etc. of about $162,500 for the year.
Total expenses were $155,149. This number includes about $63,000 in grants and scholarships distributed by the foundation, management fees, building expenses and more. Richardson Theatre, owned by the Beacon provided $41,608 of the expenses while producing about $47,000 in income. In a later report by Burl Bowler from the volunteer Theatre Operating Committee, the theatre had some additional expenses but showed a net of about $3,320 for the year. He reported that the theatre generally had a poor attendance year. Beacon’s total ending balances for the year showed an increase at $1,992, 808.
Laurel (Wageman) Fewer with LPL Financial Services reported a good year in investments with the firm. Investments through LPL showed a 15.46% return. They started the year with $1,229,262 and an ending balance of $1,516,405.
President Logan Olson reported that the board in addition to granting money and scholarships, spent a majority of its time focusing on updating the foundation by-laws and cleaning up unclear items that happen with a revolving board. They also are working on educating board members better on how the endowment process works.
BeckyHansonreportedon scholarships. About $5,500 have been awarded this year so far.
Dollars for Scholars $500.00 ea. : Jimi Jones; Emmie Fishell; Gracee Lekvold; Abby Summers; Samantha Lundquist;Aiden Fouhy; and Zachary Turner.
Dollars for Scholars (Women’s Club) – $500.00,: Kylee Cook BuckyBucksScholarships – $500.00 each, Leah Ridley and Danielle Cahill.
More will be determined later including the Sue Hellickson Memorial Scholarship – $900.00: Virginia Miller Scholarship(s) total of $1,100; Doris Mahler MemorialScholarship-$900; Charles Daniels Family Memorial Scholarship $400.00; Chester and Marjorie Solberg Memorial Scholarship with $6,000.00 in scholarship money;theJackReinerscholarship for music campers is due May 15th.
Two $100 door prizes are given each year. The winner choose a local charity to donate the cash to in the winners name. It was decided that the door prizes would go to the two students in attendance. Danielle Cahill gave hers to the Lutheran Love Room Quilters and Emmie Fishell gave hers to Richardson Theatre.
BEACON COMMUNITY FOUNDATION board at its annual meeting on Wednesday April 17. They are Perry Wolfe, Matt Girard, Joan Bjarko, Logan Olson, Deanna Ferestad, Jennifer Fugere, Mayra Tade and Brandi Halverson, (not pictured, Brenda Cook). Elections were held: President Logan Olson did not seek another term but Mayra Tade and Joan Bjarko were reelected. There remains an open spot in the east district, needing to fill the vacancy when no one offered to run for Logan’s position. Following the annual meeting the board reorganized with Joan Bjarko as president; Perry Wolfe was reelected as v.p. and Deanna Ferestad was reelected secretary/treasurer. —Leader Photo, b