The Community Foundation of Southwest Louisiana can ensure that a philanthropic gift keeps on giving

Recently with the help of the Community Foundation, the Lock family endowment fund was formed. The fund will ensure that children like Eloise, above, will always have a place to play. 

The Community Foundation of Southwest Louisiana has more than 80 charitable funds that benefit a variety of causes. And some of those funds have become a reality, thanks to the help of local financial planners.

Sara Judson, the foundation’s president and CEO, said they partner with financial advisers, attorneys and certified public accountants to “maximize the good” that potential donors want to share with others.

“Professional advisers are the sweet spot of connecting their clients who have an interest in doing good things with the foundation, where we can be good stewards of their resources,” she said.

Judson said local CPA Mike Terranova was “a key player” in steering the Lock family into creating an endowment fund that preserves Ellen Martha Goos Lock’s mission to protect Lock Park. Lock purchased the Ryan Street property 100 years ago and later donated it to the city.

One hundred years ago, Ellen Martha Lock, donated property on Ryan Street to the city for a park. She set aside money so her family could continue to support it. 

Along with buying the property, Lock set aside money so her family could continue to support the park and related causes. The family has supported her legacy for seven generations, Judson said. But the money became more difficult to manage as the family aged and some moved away.

Two years ago, George and Evelyn Paret and their family decided to seek out another way to preserve Lock’s vision. But they were unsure of the best option. With help from Terranova, the Lock family endowment fund was established within a matter of months.

“Now they continue to direct the fund and support Lock Park and other children’s causes, but they don’t have the responsibility to manage all the details of the fund,” Judson said. “Because (the fund) is within the Community Foundation, it will continue forever.”

Terranova said he was satisfied with relieving the family of the responsibility of managing the money and entrusting it with the foundation.

“I think the foundation is an excellent member of our community, and they provide an excellent service,” he said.

Since the fund was established, Judson said, the group has worked with the city to install equipment for toddlers at the park. The Lock family provided a grant to pay for the equipment. The youngest descendant of the Lock family, 4-year-old Eloise, helped cut the ribbon for the toddler playground. 

“We didn’t have a park that had specific toddler equipment,” Judson said.

Simmons’ fund

An electrician by trade, Wayne Simmons had earned money through wise investments. But he lived a modest lifestyle, preferring to spend his time hunting, fishing and visiting with friends.

“He was the ‘regular guy’ in Southwest Louisiana,” Judson said.

When Simmons was diagnosed with terminal cancer, he decided to donate his money to several nonprofits. But his friend and financial adviser, Reed Mendelson, suggested he consult with the Community Foundation about setting up a permanent endowed fund that would take effect after his death.

In this 1920 photograph by Isaac Murrey, children sit in Lock Park on Ryan Street listening to stories. Recently, with help from a grant provided by the Lock Family Endowment Fund, playground equipment for toddlers was added to the park. (McNeese State University Library Archives). 

The endowment was created after Simmons died in March 2014, with just over $1 million put into the fund. The money goes to the Salvation Army, Louisiana Baptist Children’s Home and Family Ministries and the American Cancer Society for Southwest Louisiana.

The organizations receive an annual donation from the endowment, with their first checks totalling just over $4,000 in December 2015. The endowment was invested in the Community Foundation’s investment pool for over a year before the first checks were disbursed.

Judson said the endowment fund ensures Simmons’ charitable giving will continue for generations.

“From what I have been told from his friends, (Simmons) was somebody with a big heart,” she said. “He wanted to do something that benefited good causes. Reed played a key role that allows the fund to continue to make a lasting impact.”

Other funds

Judson said Greg Marcantel, a CPA in Jennings, helped a nonprofit in the city invest with the foundation to continue its mission of providing scholarships for students training in health care. The scholarships are given to students who will work in Jeff Davis Parish on graduation.

The Jennings Rotary Club has supported academic achievement by working with counselors at area middle schools to identify students who have had the largest grade-point average increases. Students are given monetary awards as an incentive to keep their grades up.

Rotarians Dan Donald, CEO of Jeff Davis Bank, and Stephen Broussard, president of MidSouth Bank, managed the project for more than 20 years. They decided to preserve the fund’s longevity by partnering with the Community Foundation. 

“It is now a true endowed fund at the foundation to support those goals of the Jennings Rotary Club,” she said.

Judson said John McDonald, a local CPA, helped two families who had sold their businesses two years ago. They ended up creating funds through the foundation that will give money to local causes past their lifetimes.

“That wouldn’t have happened had McDonald not been familiar with the Community Foundation from another project he had worked on with us,” she said. 

Online: www.foundationswla.org