WILMINGTON — At this week’s Clinton County Commissioners meeting, the Legacy Fund provided a comprehensive third-quarter update on its investments through Peoples Bank.

Key figures present at the meeting in the commissioners’ office included Legacy Fund Executive Director Alison Belfrage, Scott Keller, and Vice President of Financial Planning Chris White.

White set the tone by presenting an optimistic outlook on the current financial landscape, saying, “It continues to be a very good year, surprisingly good year in the financial market.”

White delved into market trends, highlighting that, despite some fluctuations, the market remains resilient. He pointed out that events in late July, including a credit rating downgrade by Fitch rating agency for the US government, led to a significant increase in interest rates, impacting stock performance.

“Back in late July, the market was up 20%, and that’s where we stand today,” White explained. He emphasized the dramatic shift in interest rates from 3.7% to almost 5%, causing a 10% dip in stock values. Despite these challenges, White covered returns and performance numbers through October, assuring the commissioners of the fund’s stability.

The Legacy Fund, which describes itself as a cornerstone for positive change in Clinton County, aims to provide ongoing financial support for health, welfare, and safety improvement. Investments are diverse, supporting a range of nonprofit organizations.

For more information on the Legacy Fund, visit its official website: https://clintoncountylegacyfund.org/about/.

Following the investment update, the Legacy Fund Board of Directors convened to discuss the fund’s impact. Commissioner Kerry R. Steed welcomed committee members Joe Hete, Michelle Morrison, Janet Dixon, and Harry Brumbaugh.

Dixon expressed gratitude for the opportunity to assist entities in the county, saying, “I feel like this committee works very well together, and you can’t say that about every committee.” Dixon discussed the decision-making process behind adjusting the distribution amount to $275,000, emphasizing the goal of volatility and principal preservation.

Dixon detailed the grant application review process, revealing that out of 24 letters of intent received, 11 were considered, and 10 grants were awarded, totaling $271,273. Since its inception, the Legacy Fund has awarded over $1.6 million to 49 applicants.

Morrison expressed a desire for more substantial projects in the future, noting the prevalence of grants for new equipment. The board echoed this sentiment, hoping for projects akin to Community Action’s exercise room and classrooms for Head Start.

Hete noted the surprising lack of applicants applying for grants. Commissioner Mike McCarty suggested collaborating with educational institutions like Wilmington College to engage tech-savvy students in helping with applications. He suggested the need to explore partnerships with local leadership programs and leverage existing relationships with Wilmington College to facilitate community involvement.

In response to concerns about the application process, Steed reassured that administrative assistance is readily available through the foundation. Dixon expressed appreciation for the commissioners’ support. The board as a whole suggested exploring additional resources to enhance the Legacy Committee’s operations.

As the meeting concluded, the Legacy Fund Board extended gratitude to the commissioners for their ongoing support and acknowledged the need for continued improvement in the fund’s operations.

Also at the meeting:

In addition to the comprehensive third-quarter review of Legacy Fund investments, the recent commissioners’ meeting also featured a presentation by Shelby Boatman from the Clinton County Historical Society. Boatman presented before the commissioners to articulate the benefits of the organization and express the need for increased financial support.

Boatman began by highlighting the current annual support from the commissioners, standing at $1,000 for the Clinton County History Center. Drawing parallels to supporting a small business, she emphasized that backing the history center has a ripple effect in the community. The center not only offers physical exhibits but has expanded its reach to YouTube and its website, recently investing in Past Perfect Online to make its extensive collection available digitally.

“We have over 10,000 collection items, and we are hoping to get all of those online in the very near future,” Boatman explained. She emphasized the society’s mission of preserving, protecting, and promoting Clinton County’s history from pioneer days to the present, including documentation of events like living through the COVID-19 pandemic.

Boatman highlighted the society’s outreach efforts beyond the History Center’s walls, actively collaborating with Blanchester, Sabina, and Wayne Township. Boatman provides advice, counsel, and best practices to these volunteer-run organizations.

Providing statistics, Boatman revealed that the center had 661 visitors in 2021, with monthly operating expenses exceeding $13,000 in the last eight months. Monthly volunteer hours totaled approximately 410, covering genealogy research, board duties, and other museum-related activities.

Expressing gratitude for the current funding, Boatman acknowledged the challenge of maintaining growth amid rising costs. She presented two funding opportunities for the commissioners to consider. The first is an art survey through the ICA art conservation group, focusing on evaluating Eli Harvey paintings, a renowned Quaker painter and sculptor from Clinton County.

The second opportunity is a historical structures report for Rombach Place, the former home of General James W. Denver, which is on the National Register of Historical Places. The report, ranging from $25,000 to $75,000, would assess the building’s condition and aid in approaching necessary preservation needs. This structure’s report is required to apply for certain grants.

Boatman provided each commissioner with a past photo of themselves from the society’s collection, showcasing their commitment to preserving local history. She stressed the importance of ongoing involvement from the commissioners, indicating that support is crucial for success.

Steed thanked Boatman for the presentation and personal touches, acknowledging the significant financial considerations and indicating that further discussions would be held during the ongoing budget process. He expressed the possibility of additional funds for such projects and assured that the commissioners would reach out with any questions or comments.