1. Permanent Fund Memorials
2. Annual Memorial Scholarship
3. General Fund Memorials
1. PERMANENT FUND MEMORIALS
A Permanent Fund is an endowment where the original money is invested in an interest bearing
instrument. The Fund is individually named to honor a person (living or deceased), organization,
business, DHS Class, or the like. A Fund reaches permanency when $10,000 has been
deposited in the name of that account.
HOW DOES THE PERMANENT FUND (ENDOWMENT) WORK?
Each year the interest generated by the investment is awarded as a scholarship. The original
amount, or "principal," remains in the interest bearing instrument to generate more interest, which
in turn will be awarded the next year.
DOES THE MINIMUM $10,000 HAVE TO BE DONATED ALL AT ONCE?
No. Arrangement may be made with DSF to start an accumulating fund. To achieve accumulating
status, $1000 must be accrued within one year following the receipt of completed forms.
Thereafter, a minimum of $2000 must be received each year after the original year so that all
funds become permanent within a five year period. During the period while the fund is growing to
permanent status, it will be listed as an "accumulating fund" and no awards will be given. Some
accumulating funds reach permanency quickly. Others take months or years. Every fund is
unique.
HOW DOES A PERMANENT OR AN "ACCUMULATING" FUND CONTINUE TO GROW?
A Fund "grows" when additional principal monies are contributed directly to that Fund. Telethon
donors can earmark their pledges for a particular Fund and some Fund sponsors conduct private
fundraising activities to help their funds along.
2. ANNUAL MEMORIAL SCHOLARSHIP
If the total monies donated in memory of a loved one amount to $300 or more, and there is no
intention of establishing a permanent fund, those funds will be part of the Annual Memorial
Scholarship awarded "In Memory Of ______" listing loved ones that have been remembered that
particular year.
3. GENERAL MEMORIAL FUNDS
If the total of all contributions received in memory of a loved one amounts to less than $100,
monies contributed will be put into the General Fund to be combined with other, unrelated
contributions for distribution of scholarships that June.
Anytime you or your family wish to remember your loved one, contributions are gratefully received.
Gifts of stocks, bonds, or mutual funds are also welcome and easily arranged through any Board
of Director.
HOW IS A DSF MEMORIAL FUND ESTABLISHED?
To establish a DSF Memorial Fund, contact Rich Vezina, the DSF President at 978-937-5747. If,
however, you wish to start a fund at the time of bereavement it is not necessary to contact DSF
immediately. At the request of the next of kin, the funeral director will include in the obituary notice
"In Lieu of Flowers Donations maybe be made to the _______ Fund, Dracut Scholarship
Foundation, P.O. Box 117, Dracut, MA 01826." This will quickly notify family and friends of your
wishes. When ready, (usually after a few weeks), the family may contact the President of DSF
directly. The family's wishes as to the type of memorial desired can be determined at this time.
Balances As of May 2007
Mildred Secor Memorial
Community Funds
Gerard A. & Wanda M. Carle Memorial Fund
Perron Memorial Fund
Eric Day Memorial Fund
William A. Day Unity Scholarship
George P. Neofotistos Scholarship
Constance “Connie” Neofotistos Memorial
Dracut VFW Wives’ Auxiliary Trust
Michael T. McNiff Memorial
Robert E. Bozek Memorial
Preston Pramas Memorial
Marilyn Reidy Memorial
Albert & Corinne Gagnon Memorial
Dracut Youth Golf Association
Janet Kawa Memorial
Lyle Ransom Memorial
SHIP Trust Fund
Ryan Sayer Memorial
Judith A. Lawson Memorial
Albert Blazon Memorial
Brian Belleau Memorial
Evan Demoulas Memorial I
Evan Demoulas Memorial II
Harvey & Loyce Gagnon Trust
Jeffrey Hamel Memorial
Eric Hill Memorial Fund
Justis C. Richardson Memorial
Robin Mullin Memorial
Steven Ferchak Memorial
DSF General Memorial Fund
George Demoulas Memorial
Frank & Beatrice C. Wozniak Memorial
Edward Bishop Jr. Memorial
Dracut Charity Golf
George H. Englesby Memorial
Mary Dinley Howard Memorial
Henry Swanton Memorial
