The Traer Community Foundation recently received $325,000 from the estate of Pauline Kober.
Pauline wanted to give back to the community of Traer, where she was born and raised. At her passing, she directed her personal representative to distribute her estate to a number of charities in the community including the Traer Community Foundation. Pauline recognized and valued the governance of the Traer Community Foundation and its experience to administer and ivest endowment funds to fulfill its purpose-to enhance the quality of life for residents of the Traer community. The amount given by Pauline Kover is a lasting gift to the citizens of Traer and will sustain the purpose of the foundation.
Endowment gifts, and the income generated by their investment, are received by the Farmers Savings Bank & Trust, as Trustee, and overseen by the Traer Community Foundation Board of Directors. Income is distributed to grant applicants annually for purposes which provide benefits to residents of the community of all ages, determined by a competitive selection process. All members of the Board of Directors are residents of Traer selected for their knowledge of the educational, cultural, civic, arts, public and other charitable needs of the Traer community. Each board member is a representative of one of five designated community groups including the North Tama County Community School, Kubik-Finch American Legion Post 142, Traer Chamber of Commerce, City Council of Traer and Farmers Saving Bank & Trust.
The gift from Pauline Kober to the Traer Community Foundation will improve the community of Traer forever through initiatives of benefit for the citizens of its area.
The Traer Community Foundation was created in 1990 by William C. Talen, CEO and Chairman of the Board of Directors of the Farmers Savings Bank & Trust. The foundation receives and accepts gifts, devises, legacies of bequests in trust exclusively for educational, cultural, charitable or benevolant purposes and was organized exclusively for charitable purposes as a 501(c)3 entity.