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Jim and Edna Anderson

Jim and Edna Anderson became interested in donating funds to Lawrence County Community Foundation when they learned a few years ago about Lilly Endowment's GIFT II offer to match donations dollar-for-dollar. 

"Jim thought it would be a shame if Lawrence County didn't take advantage of the offer," Mrs. Anderson said. "We could donate money for the community plus take advantage of Lilly's generosity."  The Andersons donated stocks that appreciated rather than paying taxes. 

"Estate taxes are blatantly unfair if you've worked all your life," she said. "Donating to the foundation is doing something to give back to the community and doing something for generations." 

The donation was placed in Bedford Urban Enterprise Zone Association's fund to provide seed money for small businesses. As a result of donating to a designated fund during GIFT II, the Anderson's gift also leveraged GIFT II funds, which were placed in the foundation's unrestricted fund. That fund distributes interest payments to numerous nonprofit community projects twice a year. 

“The Foundation doesn’t spend the principal, only the interest,” she said. “It’s something that will go on forever, which is a pretty meaningful thing to do. If you donate to charity, you donate all the time, but this is a one-time donation that keeps on going and growing because money stays invested. I feel like the more people learn about this, the more people will invest in it and our little nest egg will grow.” The Andersons understand how difficult it is to start and maintain a small business, which is why they decided to donate to the Bedford Urban Enterprise Zone Association’s existing fund. The couple owned and operated a restaurant, Red Barrel Drive-In, for eight years beginning in 1956. Later, they closed the restaurant to form A&A Realty. Eventually, Anderson sold commercial real estate and later became a land developer.

“I would rather give money to the local community and have some say so over where it goes, rather than giving it to Uncle Sam to do whatever with,” Mrs. Anderson said.

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