Greater Rowlesburg Community Fund
TYPE OF FUND: Agency Endowment
DATE ESTABLISHED: November 2022
PURPOSE: The fund was established for the general purpose of supporting the continued growth of the Rowlesburg, West Virginia, community. The Rowlesburg Revitalization Committee, Inc. will achieve this purpose by engaging in projects and activities that support historic restorations, including the maintenance and repair of the Historic Rowlesburg School, as well as promoting initiatives that foster economic development, education, history, culture, and the arts within the community of Rowlesburg. Additionally, this purpose may be achieved by making grants to organizations that engage in projects promoting or supporting the activities listed above.
DISTRIBUTION: The Foundation shall make a distribution on an annual basis as outlined in the Foundation’s general policies to the Rowlesburg Revitalization Committee, Inc., for the purposes outlined herein, with the exception that upon recommendation of the Board of Directos of the Rowlesburg Revitalization Committee, Inc., the distribution may be reinvested with the fund. TCF will charge an annual fee of 1% of the fund's value, as determined by the fund's value as of January 1st of each year.
Distributions in excess of the “annual spending policy” of the fund may be made to the Rowlesburg Revitalization Committee, Inc., in any year as determined by the Board of Directors of the Foundation. Recommendations for such distributions may be made from time to time by the Rowlesburg Revitalization Committee, Inc. governing board, in writing, to the Foundation. Recommendations of the governing board shall be solely advisory and not binding on the Foundation, but approval of such distributions by the Foundation shall not be unreasonably withheld.
VARIANCE POWER: If, in the judgment of the TCF Board of Directors, the restrictions and conditions of the fund become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community, the TCF Board of Directors maintains the right to modify the terms of this fund. TCF has exclusive legal control over its assets.
FUNDING: The donor transferred and delivered $10,000 to the Foundation to establish the fund.
BACKGROUND: Rowlesburg High School graduates, Dale Martin, class of 1940, and Catheline Martin, class of 1941, are the generous donors to initiate the Greater Rowlesburg Community Fund. Dale served honorably in the U.S. Navy during World War II, following his work on the Pennsylvania Railroad in the early 1940s. Using the G.I. Bill, he earned a degree in engineering from West Virginia University. He then had a prestigious career at the U.S. Navy Surface Warfare Center in Bethesda, Maryland, where he became one of the developers of the hydrofoil watercraft.
