Osterud-Winter Foundation Trust approves semi-annual distribution

Trustees of the Osterud-Winter Foundation recently met to approve the semi-annual distribution of proceeds from the $1 million trust established for the Spring Valley area by the late John N. Osterud, founder of Home Federal.

To date, distributions total $1,569,874 in trust earnings. This most recent semi-annual distribution is $29,162.

As stated in the trust, one-half the total commitment — $14,581 — went to the Kingsland School District 2137 Scholarship Fund. Half of the remaining balance — $7,290 — is equally distributed among four beneficiaries: Spring Valley Cemetery Association - $1,822; Spring Valley Living - $1,822; Spring Valley Historical Society - $1,823; and Spring Valley Public Library - $1,823.

The remaining balance of $7,291 was allocated as discretionary funds.  Total requests were more than the discretionary funds available.  Distributions were as follows:  Senior Dining/Meals on Wheels - $1,100; Spring Valley Area Ministerial Association - $3,291; Spring Valley Historical Society - $550; City of Spring Valley - $750; Brave Community Theatre - $750; Wykoff Cemetery Board - $425; Cherry Grove Cemetery Board - $425.

The 2019 trustees — Caroline Groten, Deanna Capelle and Jay Webster — said they continue to be grateful for this generous gift to the community, and appreciate U.S. Bank Wealth Management group of Rochester for investment advice.