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Beatrice M. Eck Foundation
The Beatrice M. Eck Trust Fund was established in December 1992. The Beatrice M. Eck Trust Fund's disbursements occur annually. This Trust Fund was established to benefit the Catholic Educational Institutions in Lycoming County.
Over the long history of the Beatrice M. Eck Trust Fund, the primary benefactor of the Trust Fund has contributed over $1,000,000 in cash, stocks and real estate. Through interest income and stock growth, the Beatrice M. Eck Trust Fund benefited Catholic Educational Institutions in Lycoming County with purchases of educational materials, textbooks, audio-visual equipment and capital improvements, such as floor coverings and new insulation windows.
In 1996, the Trustees of the Trust Fund opted to change the method of distributing monies to funding Tuition Assistance Awards through the Diocese of Scranton's Catholic Schools Office. It was hoped that through tuition assistance, more Catholic families would be encouraged to send their children to our school. Financial assistance does not go to the student or the family. It goes directly to the educational institution.
In December 1999, the current Beatrice M. Eck Endowment Foundation was set through the Diocese of Scranton Catholic Schools office. It has five trustees, three of which must be from Lycoming County. As with the former Trust Fund, the Endowment Foundation exclusively benefits Catholic Educational institutions in Lycoming County, specifically St. John Neumann Regional Academy.
Starting in January 2000, and continuing through January 2012, almost $3,600,00.00 has been distributed through the Beatrice M. Eck Endowment Foundation. In fact, the single largest gift item given to the Fund was a neighborhood shopping center located in Mansfield, Pennsylvania in August 2003.
When Bishop Joseph Martino was installed as Bishop of the Diocese of Scranton in October 2003, Bishop Martino said that upon his appointment as the new Shepherd of the Diocese of Scranton he was amazed to learn that, in addition to church buildings, rectories, school buildings and cemeteries, he also would become the owner of a shopping center. The shopping center was sold in January 2004. The proceeds were almost $2,000,00.00.
It is important to note that the benefactor contributed to both the Trust Fund and the Endowment Foundation for a period of three years: 2001, 2001 and 2002. The Trust Fund was able to re-distribute all that it received. The Endowment Foundation is limited in its distribution to 85% of its interest income. The Endowment Foundation was able to start distributions of money in 2003.