The CorTrust Bank ALM (Artesian, Letcher, Mt. Vernon) Community Foundation Board of Directors met recently to award its semi-annual grants.
The following distributions were approved: Letcher Volunteer Fire Department for $800; and the Forestburg Community Development Corporation for $2,500.
The CorTrust Bank ALM Community Foundation is an organization formed to attract and distribute gifts of capital for community betterment. It was initially funded by CorTrust Bank with a match from the South Dakota Community Foundation for the benefit of the Artesian, Letcher and Mt. Vernon communities.
The first grants were awarded in August 2000. Grant applications are considered based on several factors, including the potential benefit of the proposed project to the particular population to be served and to the community as a whole. The CorTrust Bank ALM Community Foundation has awarded over $117,000 since its inception.
The CorTrust Bank ALM Community Foundation encourages and welcomes donations, memorial gifts, bequests and gifts of capital. The income generated from investment of these funds is then made available for grants.
The CorTrust Bank ALM Community Foundation is managed by a Board of Directors that consists of people from the Artesian, Letcher and Mt. Vernon communities, as well as CorTrust Bank. The current members of the Board of Directors are Jeff Ebersdorfer from Artesian, Gibi Page from Fedora, Lori Kluth and Cheryl Hohbach from Mt. Vernon, Sherri Stekl and Janet Maeschen from Letcher, and Liz Hoffman, Barb Metzinger and Don Threadgold from CorTrust Bank. The Board meets twice a year to review grant applications.
…To find out more details, read this week’s issue of the Sanborn Weekly Journal.