Manning launches 'Refresh' trust fund, patterned on Timmerman generosity
MANNING - Three leading Manning organizations have joined forces to launch a new foundation aimed at building a trust fund to finance charitable and community betterment projects inside the corporate limits of this southern Carroll County city of 1,500 people.
With $10,000 in start-up funds the Refresh Manning Trust Fund is in place. The goal is to raise $1 million so the fund functions in a similar fashion, and on a parallel track, with the Warren H. Timmerman Trust Fund.
Warren Harding Timmerman, son of Henry and Annette (Hinz) Timmerman, was born March 8, 1920, near Manning. He attended school in Manning, graduating with the Class of 1938. He lived just west of Manning on Highway 141. He farmed and raised cattle. When he died in 2006 at age 86 Timmerman's estate provided for a muscular trust that funds Manning and Carroll County projects. A modern shelterhouse in Manning and upgraded ballfields there are but two of the projects with the Timmerman stamp.
"Everyone in Manning sees the benefit of the Warren Timmerman Trust Fund," said Ron Reischl, president of the Main Street Manning Board of Directors.
Main Street Manning partnered with the Manning Rotary and the Manning Community Betterment Foundation to develop the Refresh Manning Trust Fund. In 2012, Manning rolled out a new brand - "Manning: It's Refreshing."
Reischl said the city can do far more with two trust funds working in concert.
"That was the motivation," he said.
The Refresh Manning Trust Fund is a sub-account of the Carroll Community Foundation and established through Endow Iowa. All funds in Refresh Manning will go to Manning-specific projects, Reischl said.
No more than 5 percent of the funds will be spent annually.
The long-term strategy is to create what amounts to a substantial endowment that takes advantage of compound interest and other factors to strongly position Manning for game-changing projects in future generations.
"You're investing in your children, your grandchildren and your neighbor's children and grandchildren," Reischl said.
Donors receive a state tax credit of 25 percent of the total amount contributed. Those interested can donate as little as $100 or more cash, stocks, bonds, commodities and farmland.
Those interested in the Refresh Manning Trust Fund may call the Main Street Manning Office at (712) 655-6246 or reach Reischl at (712) 782-4951.
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