Society Endowment Fund Gets New Leadership
Dave Lieberth, Society board chair, is pleased to report that Akron Community Foundation is now the administrator of the Summit County Historical Society Endowment Fund.
This move concludes almost a year of deliberation by your board of directors, and positions the Society to build our endowment in the future.
He was president of the Society in 1983 when John Tormey first suggested the need for an endowment fund. Dave was 36 years old, and Tormey was the retired chairman of Roadway Express. Behind his gruff exterior, John had a real passion for the Society and its pursuit of preserving local history. With long-time community activist Kathryn Hunter we raised $435,000 and in 1984 placed the funds with the First National Bank of Akron. Over 31 years over one million dollars has been returned to the Society in operating funds.
Moving the fund to Akron Community Foundation recognizes a role it now plays in the community that was not available in 1984. ACF has 450 separate funds with a capitalization of almost $200 million, and has an excellent record of performance. Its website provides a link that we will share with fund holders who have opportunities for making charitable investments.