The Lakewood Community Foundation has received a trio of gifts totaling $150,000. As a result of the contributions, the Lakewood Foundation now has $300,000 in its permanent endowment fund, according to Dr. David Cotant, president.
The two most recent gifts came from the estates of the late John R. and Audie Lee and the late Dr. Bernie and Olga Ootkin. Another $50,000 gift to the foundation came from Maxine Klauser, a short time ago.
The Foundation was originally established by the Rotary Clubs of Lakewood as a charitable foundation to benefit Lakewood and its residents. Recently it was expanded to include other community groups. The board of directors was also enlarged and representatives from the community at large were added. As a result, the foundation anticipates generating additional contributions from the estates of local residents.
According to Dr. Cotant, the funds are invested and earnings will be used for charitable activities in the Lakewood community. To date, a few scholarships have been awarded with the earnings. With the latest contributions, earnings are expected to increase in the coming years and additional grants can be made.
Dr. Cotant said inspiration for the Lakewood Foundation came from Rotary Club members and their participation in Rotary International¬?s worldwide charitable activities such as leading the effort to eradicate polio from the world. ¬?Rotarians have been contributing to the international projects for
years,¬? Cotant explained. ¬?Many members wanted a local outlet for their charitable contributions so we started the local foundation. As it has matured we realized a lot more could be accomplished if we included other community organizations like Lions, Kiwanis and others. When approached, other groups quickly agreed to participate.¬?
The current board members, who serve for a 3-year period, include:
Dr. Cotant, Clint Johnson, Dave Betz, Greg Rediske, Bill Harrison, Randy Black, Andie Gernon, Hugh Hedges, David Boyd and Fred Willis. Tom Sadler has served as financial consultant since the foundations inception.