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DeWitt
Bank & Trust Co. has assisted many people over the years to set up trusts
that provide scholarship assistance to many local students. By establishing
these trusts, the individuals were able to save Federal Estate taxes and our
local community will benefit for years to come. These accounts are funded with
almost $3,000,000.00 in land and investments to provide the income for the annual
scholarships.
The Oswald and
Sophia Bathalter Scholarship
$17,000 was awarded in 2008.
Mr. and Mrs. Bathalter were farmers in our area that left the bulk of their
estate to this scholarship fund. Any Clinton County student may apply with
preference being given to students from Central Clinton Community High School
and of the Catholic Faith. The scholarship, leadership and service of the
applicant are considered, as well as financial need.
George M. Cromer
was a Clinton County farmer and Iowa State University graduate (class of ’17).
Mr. Cromer established a scholarship that is for Central Clinton Community
School District graduates, members of the First Congregational United Church of
Christ, DeWitt and students who are planning to study for Christian religious
work. Last year the Cromer Scholarship awarded $1,800.00 in scholarships. This
fund is available to post graduate students and graduating seniors.
Lois Paarmann funded the Paarmann Family Scholarship to help
graduating female students from Central Clinton Community High School. Awards of
the Paarmann Family Scholarship are available to two women from Central who are
post graduate students or high school seniors. The awards in 2007 were at
$2,000.00 each for two recipients. Applications for the Paarmann Scholarship
are available through the Central Clinton Community School District website (http://ww.central-clinton.k12.ia.us)
Hans and Grace Olson of Calamus set up a trust to provide scholarship
assistance to students of Waldorf and Luther Colleges here in Iowa. Special
preference is given to students who are members of Our Savior’s Lutheran
Church of rural Calamus. In 2006, approximately $4,000.00 each was given to
Luther and Waldorf Colleges for student scholarships. Applications are
available through the colleges.
Orville Bates provided a fund to provide interest free loans to students for
ten year periods as a memorial to his wife Mayme. The Mayme
Bates Trust has approximately $25,000.00 in outstanding interest
free loans, and new loans are made each year of approximately $2,500.00.
A DeWitt native, Lillian Fell provided a scholarship fund through the
DeWitt Area Foundation. This fund is for Central Clinton Community School
District students. Last year, $1,600 was awarded to two Central Clinton
Community School District Graduates with each receiving $800.00. See your Central Clinton Community
School District Guidance Counselor.
John and Wilma Anderson
and Barbara Olson of DeWitt established the Anderson Family Trust to provide
scholarships to Clinton county high school graduates. This account is the
largest of our scholarship trusts. Graduates of Central
Clinton Community School students are given preference. Over emphasis is
not placed upon scholastic record when there is evidence of sickness or
hardship. In 2008, $93,500.00 was awarded.
These eight funds provided over $120,000.00 in scholarship assistance to
students in our area in 2006 alone. Dealing with this form of philanthropy is
interesting and rewarding. Those who provided these benefits have saved taxes
and their names live on through their good work. Take time to learn more about
these scholarships. We surely owe a debt of gratitude to these folks who have
provided for our future generations in this manner.
Florence M. Schrader
created a trust under her will that provided $10,000.00 in scholarships in 2008. Central Clinton Community
School District graduating seniors are given first priority and graduating
seniors of other Clinton County high schools are given second priority.
Consideration is given to the student's character and scholastic record, as well
as other available financial assistance. |