The Wallace Community Foundation Fund (WCFF) recently received a substantial gift from a Wallace native resulting in a sizeable increase to the community’s unrestricted endowment.
Martin “Marty” Gibson was born and raised in the community of Wallace, graduating from Wallace High School in 1953. Gibson served in the United States Marine Corps from 1956 until 1959. In 1960, he moved to California. Upon retiring in 1992, Gibson and his wife, Ina, moved to North Platte. Ina passed away in 2000.
Gibson was an avid golfer, so spending the winters at his home in Arizona City, Arizona allowed him to pursue one of his biggest passions.
Even though Gibson never moved back to his childhood home of Wallace, he knew he wanted to give back to the hometown that played a major role in shaping his formative years.
He did so with a donation of $30,000 to the Wallace Community Foundation Fund. The donation was split, with two-thirds going into the fund’s unrestricted endowment and one-third into its School Alumni Scholarships account.
While his contribution to the School Alumni Scholarships account will provide financial aid to fellow graduating seniors of Wallace High School, funds used to grow the WCFF unrestricted endowment may be used to further a vast array of charitable causes, projects and programs in the Wallace community in perpetuity.
All contributions to the WCFF unrestricted endowment are invested and continue to increase. Each year, the Wallace Community Foundation Fund Advisory Committee grants out a portion of the income earned by the unrestricted endowment to local projects and programs that are enhancing quality of life in Wallace. The principal remains intact and grows forever.
Gibson’s gift is certainly going to make an impact as Wallace continues to strengthen its community.
“Donations to our Fund like Martin Gibson’s will provide opportunities and improvements to our community that otherwise may not have been possible,” said WCFF Advisory Committee Member Larry Seger.
“Positive things in our community today will hopefully nurture passions of support in the future from people who are proud to have called Wallace home.”
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