Terra Alta Corporation Endows Fund
October 2011 Robert Burns, Executive Director of Tucker Community Foundation has announced the start of an Endowed Fund that will serve the Preston county community of Terra Alta. Several members of the recently disbanded Terra Alta Economic Development Corporation (TAEDC) agreed to continue the organization’s mission by establishing the Terra Alta Economic Development Corporation Fund. In addition to providing additional resources for the community, the fund provides an opportunity for donors to add additional support.
According to Rich Hopkins and Debbie DeLauder, both former officers in the organization, TAEDC had become inactive, prompting the last-standing board of directors to consider other options. By establishing an endowed fund with the Foundation, the historic value of the donated principal is protected and invested for growth and income.
The Terra Alta Economic Development Corporation Fund is to be used and distributed for the purpose of the charitable economic development of the Terra Alta area which is defined, in general, as the whole of the town and surrounding area. Economic development includes activities related to job creation, job retention and general improvements to the business climate of the area. In addition to Hopkins and DeLauder, Ima Thomas, and Mary Jo Gregg also serve as Fund Advisors.
Tucker Community Foundation currently manages more than 80 Endowed funds that serve eight counties. Endowed Funds are pooled to maximize the investment opportunity and keep administrative fees low. To donate to the TAEDC Fund, mail checks made payable to TCF – TAEDC to P.O. Box 491, Parsons, WV 26287. For more information about this fund or the Tucker Community Foundation, call 304-478-2930.
