Osterud-Winter Foundation proceeds disbursed
Wednesday, July 13, 2011 5:22 AM
Trustees of the Osterud-Winter Foundation recently disbursed the semiannual proceeds from the $1 million trust, a gift to the Spring Valley area from Home Federal founder the late John Osterud.
A total disbursement of $31,391 provided for the following commitments to be met as stated in the trust: one half the total amount to the Kingsland Scholarship fund, and one fourth to four beneficiaries designated by Osterud: Spring Valley Cemetery Association, Spring Valley Senior Living, Spring Valley Historical Society and City of Spring Valley Library Fund.
One fourth is set aside for the discretionary fund and was allocated as follows: Spring Valley Ministerial Association, $3,150; Spring Valley Ministerial Association for Senior Dining, $1,100; Spring Valley Historical Society for new roof, $1,350; Spring Valley Area Ambulance Association for automated external defibrillators, $1,000; Kingsland School District #2137 for preschool scholarships, $1,000, and Kingsland School District #2137 for outdoor digital sign, $250.
The annual IRS report for the Osterud-Winter Foundation is on file at city hall for public scrutiny. This generous gift continues to provide for the needs in our community according to the guidelines of the trust.
The 2011 trustees are Bruce Hartert, Mary Grems and Mark Marburger.