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Thursday, May 5, 2016

Couple establishes endowment fund

Tuesday, December 31, 2002

- Money will be distributed through the Clay County Community Foundation

John and Karen Mercer of Clay City recently established an unrestricted endowment fund through a donation of stock to the Clay County Community Foundation.

The John and Karen Mercer Family Endowment Fund will make annual grants to community organizations for projects that will improve the quality of life in Clay County. Their initial contribution will be matched, thereby doubling the value of their fund.

The Mercers are both Clay County natives residing in Clay City. John retired from Clay City High School in May 2001 where he taught social studies and coached many sports at the junior high and high school levels. Karen manages the household. Their establishment of an endowment fund that continues to give back to the community continues their strong commitment to church and community activities.

Their two sons, Mike and David, are both elementary school teachers. Mike teaches at Veale Elementary School in Washington, Ind., and David teaches at Shakamak Elementary School. Their step grandson, Nathan Pennington, is a student at Indiana State University and their granddaughter, Kayla Mercer, is a student at Veale Elementary School.

Unrestricted funds such as the Mercer Fund are used in whatever way best serves the community today and in the future. This fund will give back perpetually to Clay County for many years. Once an endowed fund, such as the John and Karen Mercer Family Endowment Fund, is created, it can be added to through gifts to that fund. Families can continue to build their fund by making yearly contributions. Gifts can consist of cash or real property. Examples of property would be stocks, land, real estate and insurance policies. Families can build their legacy over time.

With its current assets, the Clay County Community Foundation is able to grant approximately $40,000 annually from its unrestricted funds. Unrestricted funds provide support for projects and programs that improve the quality of life in one's home community and a way to give back to your community. For more information about gifts to the Clay County Community Foundation, call Judy Eifert at the Community Foundation office at (812) 446-2677.

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