Job Armstrong Store - Chepachet, RI

Glocester Heritage Society





Endowment Fund

The Glocester Heritage Society is currently conducting a special fund raising drive to raise monies for an Endowment Fund.

Until now, the Society's primary expenses have been insurance, utilities and maintenance for the Job Armstrong Store. Added to this obligation in 2004 was upkeep and maintenance of the Evans Schoolhouse. Upon completion of the Dr. Reuben Mason House construction, expenses incurred in the property will need to be assumed.

Operating costs are expected to increase faster than our traditional revenue sources (e.g., Heritage Day). Having an endowment fund available is one way of reducing these costs.

The Glocester Heritage Society is soliciting contributions to be placed in an endowment fund where interest and dividends will accumulate and be added to principal. Once annually the GHS may draw up to 4.5% of the current principal balance to be available to fund a portion of the Society's operating costs. The Rhode Island Foundation will serve as the financial manager of this permanent endowment fund.

The minimum amount necessary to open an account with the Rhode Island Foundation is $10,000. To date, the Society has $5,749.03 earmarked toward opening its first endowment account. Subsequent accounts will be opened as money becomes available.

This is a very important fund raising effort by the Society, and we hope that our membership, friends and the community will provide support to make this drive a success.



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