Siemer Milling Board Donates to Community Foundation
Published on September 4 2012 3:56 pm
Last Updated on September 4 2012 3:56 pm
Written by Greg Sapp
Siemer Milling Company of Teutopolis has contributed an additional $250,000 to the Siemer Milling Company Endowment Fund at the Effingham County Community Foundation. This endowed fund was established in 2006 as a donor-advised fund, with an emphasis on youth leadership development.
The gift will significantly increase the annual distributions of the Fund, and thus its impact on the community. According to Joedy Hightower, President and CEO of the Community Foundation, "It's staggering when you consider how this generous gift from Siemer Milling can grow over time. For instance, just in the first 15 years, assuming an 8.5% rate of return, this fund will generate $350,000 in grants even while the corpus continues to grow. Because the fund is a permanent endowment, grants from the Siemer Milling Endowment will be available each year for perpetuity.
"It is an honor and a privilege for the Effingham County Community Foundation to administer the Siemer Milling Endowment. This gift says a lot about the values and dedication the Siemer Milling Company and the employees who work there demonstrate on a daily basis," said Hightower.
Rick Siemer, President of Siemer Milling, observed, "Our Board really understands the ability of the Community Foundation to enable steady support of worthwhile activities here in our home. We've tried to be a good corporate citizen for the past 130 years, and through this Endowment our efforts can continue that far into the future." Siemer is a founding member and past president of Effingham County Community Foundation, and currently is on the Board of the parent organization, Southeastern Illinois Community Foundation.
The first initiative funded by the Siemer Milling Company Endowment was a program coordinated by local 4-H Youth Ambassadors called the Prescription Pill and Drug Disposal Program, or P2D2. The project received $4,000 in 2011 to install collection boxes at designated sites throughout Effingham County to assist with the collection of unused medications so they do not present a health and safety hazard.