Evening star., 1923-09-09
F|NANC|ERS ASSERT
CHARITY FUND NEED
Foundation Here, If Large as
in Some U. S. Cities, Would
Have Aided Japan.

How the National Capital might
be able to render instant monetary
assistance to peoples stricken by some
great disaster. such as Japan has
suffered, was discussed yesterday py
financial leaders of Washington.
The action of the Cleveland Founda-
tion in sending s125,000 for Japanese
relief. in the name of that city, has
vividly brought to mind here the
possibilities inherent in the Washing
ton Foundation, general fund for
local charities. administered by a
permanent committee.
ESta bliShed here several years ago
the Washington Foundation. of which
the Washington Loan and Trust
Company is trustee, has not pro-
gressed as rapidly as have similar
community trusts in other large cities
OF the Country.
The Washington Foundation-what
Is that" is the question asked when
the institution is mentioned to many
a man here familiar with the National
Capital and it's various institutions.
Ihe committee of the Washington
Foundation is composed of George +.
Hamilton, president of the Capital
Traction Company, who was appointed
States: Charles +. Nesbit. former
commissioner Of insurance OF the
District, appointed by the president
Of the Board of Commissioners of the
District; Oracle X. Richards. former
treasurer of the Episcopal Eye, Lar
and Throat Hospital, appointed 10y
the District Supreme Court: John JOY
Edson, chairman of the board of
directors OF the Washington Loan and
Trust Company, and John 3. Larner.
president of the Washington Loan
and Trust Company. both appointed
by the board of directors OF that in
stitution.
# the Washington Foundation was
in the position Of the foundations
OF Cleveland. st. Louis. Indianapolis,
American cities. it would have been
able to send thousands of dollars in
stantly to the relief of Japan, in the
, name of the National Capital. from in
terest on the princi pal. without
touching such principal.
Purpose of Fund.
The Washington Foundation is a
{ fund to be used for charitable and
benevolent purposes, created and
maintained by the union of many
gifts. deposited with Il trust company
as a trustee. and managed and dis
. bursed b. a committee OF well known
! residents of the city.
The foundation, according to a
. statement of the foundation, will en-
/. able persons who are charitably or
benevolently inclined to give either
/ large or small amounts to general or
special charitable purposes, with the
assurance that the gift will be faith
. fully applied as directed.
The Cleveland Foundation has
. known gifts and bcGuests aggregat-
ing more than S100.000,00O Commu-
nifty trusts established at other cities
are the st. Louis Community Trust.
the Spokane Foundation, Chicae
Community Trust. Milwaukee Founda-
ton. Los Angeles Community Trust,
Attlebore Foundation, Minneapolis
Foundation and Pittsburgh Commu-
ity Fund. Houston Foundation. De-
troit Community Trust, Seattle
/. Foundation. Sioux City Common
Fund. indianapolis Founda tion. Louis
. willie Foundation, Rhode Island
. Foundation. Hawaiian Foundation.
Peoria Community Trust. New Or
leans Community Trust. Philadelphia
Foundation and Pittsburgh Commu-
nifty Foundation.
The community foundation. as a
plan for the conservation and ad-
! ministration by a trustee of an en-
. dowment allowing the funds to be ex-
pended for charitable purposes ac-
Z cording to the discretion of a COM
! mittee representative of the COM
munity, was first inaugurated by
. Judge F. H. Goff. president Of the
! Cleveland Trust Company, January 2
, 1914. All the other foundations are
: established upon the Cleveland plan.
to prevent eccentricity, such as the
leaving of money for cat home. ac-
cording to William P. Gest. president