The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-03-16
MORE interest.
IN FOUNDATION
BY RICHARD HATTON


There is growing interest II
many large cities in the Cornmunit,
Trust, or, as it is known in Wash
i ington, The Washington Fcunda
ton. The subject was covered ir
comprehensive manner by VIII
liam ii. Baden, trust officer of the
Washington Loan and Trust Com
pany, in recent lecture before
the class in trust functions OF the
Washington Chapter, American In
atitute of Banking.
Since Mr.. Baden's lecture there
have been a number of inquiries re-
garding the Community Trust as
operated both here and in other
cities and the following informa,
ton has been secured upon the
subject:
The Community Trust, or foun
dalton plan. has been in operation
for some time in number Of
cities.
1t has proven successful in Phila,
delphia. Chicago, Cleveland, Boston
and other places, and it has passed
the experimental stage. In Cleve.
land alone the known gifts and be.
quests to the Cleveland Foundation,
which is a Community Trust, ag.
gregate over 500 1000, 900, whicn
vast sum will become available for
benevolent purposes in that city.
In Washington the Community
Trust, or the washington Founda-
ton, Is a fund to be used for
charitable and benevolent purposes,
created and maintained by the union
OF many gifts, deposited with a
trust company, and managed and
disbursed by a committee composed
of men and women of publicly
known fitness for their work.
The idea OF the foundation is to
enable persons who are charltably
or benevolently inclined to give in
either large or small amounts to
general or special charitable pur-
poses, with the assurance that the
gift will be faithfully applied as
directed, by trust company having
perpetual existence.
In the case of the Washington
Foundation, except in cases where
the doner has specifically provided
for the application Of the priuriple
of the gift or donation, the income,
less proper expenses, is applied for
the promotion of such charitable,
benevolent, educational, and civic
purposes as directed by the com
mittee which is composed Of resi-,
dents of the District of Columbia
who are fully possessed of practical
knowledge of existing needs and of
the operation Of local charitable
agencies.
1t has frequently happened that
trusts have been. created for specific
charitable objects with no provision
for the perpetuity of the trust after
the necessity has been removed or
the object has ceased to exist.
Under the community trust plan
when such condition occurs the
authorized committee is enabled to-
continue the charitable object of the
donor Of gift by applying the in
terest to another worthy object In
place Of the one which has dis
appeared.
The trust and it's benefits thus.
become of great community value in
perpetuity. In other words, the
Community Trust, or. as it Is known
locally, The Washington Foundation,
is a general fund for local charities
of all kinds, contributed by the pub
lie and administered by a permanent
committee OF responsible citizens for
the best interests of the people of
this city.
It was stated today by those. in
position to ascertain facts that the.
Washington Foundation, as we'll as
community trusts in other cities.
are created usually by three classes
of givers: Those who are interested
in particular persons. charities or
institutions, those who desire to
give, but who are unacquainted
with any particular object of charity,
those who because of limited means
can give or beuueath only small
sum which alone is Of no particular
charitable value.
To the first mentioned, it is
stated. the foundation offers a posi-
tive promise that the person or in
Btitution, for whose benefit the fund
is givens will receive the benefit of
the fund, and in accordance with
the instructions OF the donor. To
the second class the assurance is
given that there will be the widest
possible opportunities to make their
gifts serve in the most beneficent
activities, for the foundation
searches for persons and institu-
To the last mentioned class is af-
eorded the opportunity to be among
those who can be of infinite help
to others through the aggregate of
small gifts which make up o large
amount and which, thus grown. can
be administered for the benefit of
many.
While Mr.. Baden in his recent lee
lure spoke on community trusts as
b general subject it is of interest
TO recall that the Washington
Foundation, which is essentially a
community trust, is administered
by the following local committee:
George e. Hamilton, who was APP
pointed by the Attorney General of
khe United States Charles F. Nesbit,
appointed by the president of the
Board of Commissioners of the Dis.
krict of Columbus; Oracle X. Rich.
ards, also appointed by the District
commissioners, and John Joy Ed
bon and John B. IIarner. both. APP
pointed by the board OF directors of
the Washington Loan and Trust
Company.
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