NICE DONATION — From the left, John Shevlin (Penny) of Liberty Safe presents a check to Harold Olson for $1,500 for the Museum Endowment Foundation on Wednesday morning. I-O Photo by Buck Traxler
Harold Olson, from the Pondera History Association announced on Wednesday that the Conrad Historical Museum Endowment Foundation has been established.
Olson told the I-O, “that the purpose of the Foundation is to insure the longevity of the Museum.”
The foundation has been in existence for several years and has grown slowly.
With a legal status of an Endowment Foundation in place, donors will be able to take a tax credit.
The fund will grow until the annual returns are enough to cover the major expenses of the Museum, he said.
The principal in the fund will not be spent, only the annual dividends.
The Endowment Foundation may also receive the oil and royalty payments, personal property, life insurance policies or other assets.
For further information, contact Olson at 278-3700.