Thursday, December 15, 2005

LIBRARY FUND IS OFFICIALLY ESTABLISHED

The Tom Green County Commissioners Court officially approved the creation of the “Beacon of the Future Fund” at today’s meeting. The County has agreed to use the San Angelo Area Foundation as the Fund Administrator following approval of the County Auditor and County Treasurer. The Foundation will be responsible for accepting, booking, and receipting all donations and grants towards this fund. The County and the Foundation are both excited to be working together for the creation of the new Tom Green County Library in the former Hemphill-Wells building.

The Foundation will officially begin accepting donations towards the capital campaign, today. The Foundation will also manage the permanent endowment fund that will provide operational assistance for the new library. Donors wanting to donate to the capital campaign can make their checks payable to the San Angelo Area Foundation and note the Beacon of the Future Fund in the memo line of their check and mail it to the Foundation at their offices: 2201 Sherwood Way, Suite 205, San Angelo, Texas 76901 The Foundation can also accept gifts of publicly traded stock towards this fund. For more information about making a gift to the capital campaign, call the Foundation office at 947-7071. All donations are tax deductible to the fullest extent allowed by law and donations made prior to December 31, 2005 are eligible for a tax deduction in the 2005 tax year.

Pollyanna and Steve Stephens have pledged 2 million dollars towards the renovation project and plan to begin official fundraising efforts in January 2006. When accounting for the value of Hemphill-Wells Building, funds on hand and the Stephens pledge, the campaign will need to raise an additional 9.5 million dollars. “We are truly getting closer to seeing the new library become a reality. We are excited about today’s action and look forward to watching the money come in.” said Larry Justiss, library administrator.

DONATIONS MAY BE MADE TO:

BEACON TO THE FUTURE FUND
SAN ANGELO AREA FOUNDATION
2201 SHERWOOD WAY, SUITE 205
SAN ANGELO, TEXAS 76901