The Lincoln County Foundation 


  The Lincoln County Foundation is a non-profit corporation established to serve as an agency to receive and administer funds and other property contributed for any civic, educational, charitable or religious purpose, and particularly to assist, encourage and promote the welfare and well-being of the youth of Lincoln County, Oregon.

It was created in 1965 by a group of Lincoln County citizens to provide an agency through which gifts, bequests, property or funds from any source may be placed in trust for the benefit of the people of Lincoln County.

While the Lincoln County Foundation's emphasis is on the welfare of the youth of Lincoln County, the provisions do not restrict contributions to youth activities alone but are sufficiently broad to operate in many fields. Small gifts are as welcome as large ones and receive the same painstaking care in administration.

It makes possible permanent benefits to the community through the combination of many civic, educational, charitable and religious bequests into one fund.

The governing body of the Lincoln Foundation is a Board of Directors, a group of nine representative citizens of Lincoln County.

Two of the directors are appointed by the Newport Rotary Club, two by the Toledo Rotary Club, one by the Lincoln County School District Board of Directors, one by the Lincoln County Court Commissioners. These six directors appoint three-at-large directors to represent all area of the county.

Funds may be set aside for the proposes of the Lincoln County Foundation or for special purposes in cash or other property, either by gift or by will. A donation my be unrestricted (being left entirely to the discretion of the Board of Directors) or restricted (when a contributor may specify his/her charitable or benevolent objectives either broadly or in detail.

Gifts to which restrictions as to use of income or principle have been attached are kept in separate funds and the income and principle are expended only for the purposes and to the extent designated by the donor.

The Lincoln County foundation community trust plan of giving, however, provides the machinery by which charitable and benevolent funds can be used according to the needs and best judgement of each generation.

Under the Lincoln County Foundation organizations, all gifts are received by the Board of Directors and are the property of the Foundation. The Directors will exercise control over the use and disbursement of funds for the stated purpose of the Foundation and, in the cace of restricted funds, for the stated purpose of those funds.

The principal of gifts that are to be continuing or endowment funds are currently being invested with Edward Jones Investment Securities in a portfolio that will include below average risk mutual funds rated by Morning Star Inc., investment grade bonds and short term U.S. Government Securities. Additions will be made to principle to compensate for inflation.

When conditions are attached to gifts, control will always be exercised in accordance with such conditions.

Thus, the assets of the donor's contribution to the needs of Lincoln County are invested, protected from inflation, as far as possible, and managed under sound, unified, continuing control. The income from a donor's gift ( and part of the principle if so desired) is employed in a manner constant with the donor's wishes,within the laws governing non-profit corporations and with enough flexibility to meet changing future needs.

© Kim Carlson 2013