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 In
1969, just as the Allegan County Community Foundation
was officially incorporated, Mr. Ethol Stone left $1.2
million to the new philanthropic organization. (That's
equivalent to more than $6 million in today's dollars!).
Mr.
Stone was an attorney who operated a law and county
abstract business in Allegan almost until the day he
died at age 89. He was one of the foundation's three
original founders; their goal was to establish an endowment
so that donor gifts would be available in perpetuity
to make grants to charitable organizations serving our
community.
At the time, area
residents were as surprised by the existence of the
Allegan County Community Foundation as they were by
the size of Mr. Stone's gift. The sizeable bequest did volumes to raise awareness of the then-new Foundation and
its mission. In 1972, the Foundation made its first grant distribution,
totaling just over $14,000, to three area hospitals
for equipment needed to improve patient care.
While it was public
knowledge that Mr. Stone served on the boards of many
area banks and industries, few knew how adventurous
Mr. Stone was when it came to investing in the stock
market. Profitable investments accounted for much of
his estate; in fact, at the time of his passing, friends
said the $1.2 million gift to the foundation was probably
more than Mr. Stone had earned in 65 years of practicing
law.
Mr. Stone lived
modestly in an unpretentious frame house on Marshall
Street most of his adult life. His law practice, begun
in 1904 after he worked his way through the University
of Michigan law school, was devoted largely to counseling
county residents on business matters, wills and property
transfers.
We're pleased
to recognize Mr. Stone's gift, the first ever to the
ACCF and certainly a large and generous one. Please
check this page regularly, as we feature a variety of
donors-from all areas of the county, from all socio-economic
backgrounds, funding the ACCF in a variety of ways.
All donations, regardless of size, are important in
helping the ACCF achieve its mission for good. For ever.
There are a
number of ways to donate to the ACCF. Find out more on this website, and talk
with your financial advisor to determine what vehicle
is most beneficial for you and your loved ones.
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