Valdez daily prospector., 1914-04-14
BETTER CHARITY
 FUND SYSTEM
Cleveland Plan RevoIutionizeS
 Method of Administration.
HELP WHERE IT IS NEEDED.


 Against Possibility of Philanthropic
 Bequests outliving Their Usefulness. Provides For Conditions Which Givers
 Cannot Foresee.
 Cleveland. O.. is to have a founda- tion for phianthropic and charitable purposes which is intended to group together Il large number of bequests and donations of all sizes and to insure the expenditure of their income where. in the opinion of the trustees of the fund. the money will do the most good to the people of the city.
 Under the plan as worked out a man may leave his property in trust for such individual benefciaries as he may name during their lives, the income on their death to be expended by tue trus- tees of the foundation for such philan- thropic work as in their opinion seems most deserving at the time. On the other hand. if he wishes to do so the donor may indicate the phil snthropic purpose for which he de sires the money to be used, and it will be. used for this purpose until. in the opinion of the trustees. the need for the money in this direction is DO longer felt
 The Aims Described. When t.Iis occurs the trustees will have the power to turn the income back into the general fund and to ex- pend 1t as they believe will most bene fit the city and it's inhabitants. Frederick H. Golf originated the plan. He worked over it for two months with various men and women of Cleveland interested in philanthropic undertaks ings.
 "The plan as it has been worked out" says Mir. Goff. provides for a sort of community trust to be known as the Cleveland foundation. The Cleveland Trust company is to act as trustee, and the trust propertles-are to be controlled and managed by the con- pany. The income of the foundation. when available, is to be disbursed by a committee of five trustees.
 "The committee is to have absolute control of the disposition of the income of the fund. The members of the com. mittee are to hold office for five years. one member being elected every year. ''The committee will serve without compensation. There will be paid secretary to be appointed by the trl>- tees
 '"The trustees will publish annually in the Cleveland newspapers state ment of all the donations. tho income received by the trustees in the preced- ing year and the disbursements The accounts will be audited annually by public accountants. and visito:ial pow, CTS will be given to the attorney gen. eral of the state and to the law officer of the city-the corporation counsel.
 Tt is intended that the philanthropic purpose of the foundation shall be broad enough to include scientific re- search. the prevention of disease and of poverty. educational and hospital purposes. playgrounds. recreation cen" ters and any other purpose which in NAG ORAAWu ot tuC U OSICC6 "ltt tuOaN benefit the inhabitants of the city.
 Funds That cutlivs Usefulness.
 Under the present system of be- quests for such purposes it not infre- Quently happens that by the time the money is available for the charitable use designated by the testator the need tor 1t has passed.
 "There are many funds in existence. which are tied up by a provision thut they be used for specific purpose. which have long ago outlived their use fuIness because the need which existed when the testatOr made the bequest has been outgrown. We have such funds today in Cleveland aud in oth' CT parts of the country.
 An extreme example is the English fund established many years ago for buying spinning wheels for the girls of England. Spinning wheels have given way to machinery. but the funds pur- pose is in black and white. St. Louis has large fund the founder of which prescribed that its income should be used. to assist the pioneers who were travelling overland from the east to settle In the great west It was worthy cause ill those days. but the fund has outlived the need to supply which 1t was created" .,t' Mir. Goff said that $5.00O. 900 in tte- quests, subject to life incomes for heirs nt law. already had been promised to the foundation. e:j$ HIGHEST sKYSCRAPER YET.