David C. and Teresa L. Masten Community Endowment

Year Founded
2015

Founders
David C. and Teresa L. Masten

Purpose of Fund

The primary purpose of the Fund shall be to provide unrestricted financial support to the programs and purposes of the Putnam County Community Foundation, Putnam County, Indiana, a non-profit Indiana corporation exempt from taxation under Internal Revenue Code ("Code") section 501 (c)(3), and a public charity described in section 170 (b)(1)(A)(vi) of the Code.

History of Fund
David Masten, a realtor, appraiser, and local entrepreneur, and his wife Teresa Masten, a surgical nurse at Putnam County Hospital, were attracted by the opportunity presented by the Community Foundation to maximize their philanthropic donation with a $2 for $1 match, as well as to avoid capital gains taxes on their appreciated stock donation.