In 1995 the wheels were set in motion to establish the Parsons Area Community Foundation for the purpose of providing improvements and enrichments to the community beyond what tax dollars supplied. It would be funded through contributions of those wanting to give back to the community.
Prior to the establishment of the Foundation, a long time resident of Parsons died leaving a sizable estate. She would have been thrilled to have left the money for the betterment of Parsons if there had been such a vehicle as a city foundation in existence. As it was, the money was left to a distant cousin who was independently wealthy and over 80 years old. This was the catalyst for creating the Parsons Community Foundation.
Mary and I have a donor-advised fund at the Foundation. We are able to direct income from the investments of this fund to support the projects we value for the community. We can do this for our lifetimes and, if we choose, our children and grandchildren may continue with their direction. Since this fund is endowed, the principal always remains, and the income from the fund may be used to benefit generations to come. What a perfect way to support our local community. And all gifts are tax deductible! (Pete Hughes)