The Lakewood Masonic Temple, Lakewood, Ohio The Lakewood Masonic Temple Company
15300 Detroit Avenue Lakewood, Ohio

 

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Temple Company Home | Endowment Fund | Trustees| Past Presidents

Endowment Fund

The Lakewood Masonic Temple Endowment Fund was established in November 1986 by a formal resolution adopted by the Lakewood Masonic Temple Company Board of Trustees.  The original Fund brochure read, in part, as follows:

" Our commitment as users of the Temple is two-fold:  First to our forefathers, who with great foresight planned and built Lakewood Masonry's home; and secondly, to the future men and women who will dedicate themselves to the principles of Masonry and related organizations in the years to come.  As the recipients of the many benefits of our Lakewood Masonic Temple, we are charged with certain responsibilities, one of the most important being the preservation and maintenance of this outstanding piece of architecture."

The Endowment Fund is supported by gifts and bequests specifically designated for Endowment purposes.  Undesignated gifts and bequests may be placed in the Fund at the discretion of the Board of Trustees.

Endowment Fund earnings are restricted to help with the maintenance, rehabilitation, reconstruction or renovation of real property owned by the Lakewood Masonic Temple Company.  The Fund principal must remain intact unless needed solely for emergency purposes.  An affirmative vote of  3/4 of the Board of Trustees is required to declare an emergency.  Normal expenditures from accumulated earnings are made upon an affirmative vote of a majority of the Board of Trustees.

Fund assets are managed by a professional investment management firm selected by the Board of Trustees.

Contributions to the Lakewood Masonic Temple Endowment Fund are generally NOT deductible for federal income tax purposes.  Bequests, legacies and similar gifts are NOT deductible for federal estate and gift tax purposes.  Donors seeking preferred tax treatment for their support of the Lakewood Masonic Temple should consider gifts to The Lakewood Masonic Foundation.


City of Lakewood 2010 Historic Preservation Award Winner

Our Community Partnerships

Lakewood Alive - An Economic Development Corporation

Downtown Lakewood - An Ohio Main Street Program

Light Up Lakewood Lakewood Arts Festival Lakewood Charitable Assistance Corporation

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Page Last Updated 19 January 2010