Phyllis Madeline Winings Trust
In loving memory and honor of Grace Beckham Winings, who died on February 24, 1979, and in her Last Will and Testament created the Phyllis Madeline Winings Trust, in honor of her deceased daughter, naming The Gerber State Bank of Argenta, IL as its Trustee.
The assets of the Phyllis Madeline Winings Trust include 380 acres of prime farmland and sizable investments, with income distributed, as outlined by her wishes in her will. All income from the Trust is distributed to charitable and governmental organizations located in Friends Creek and Whitmore Townships, Macon County, IL, where Mrs. Winings lived and owned farmland.
The will states: “The Trustee shall annually distribute all of the net income of the Trust. In making distribution of the annual net income to tax-free charitable organizations or governmental agencies, the Trustee annually shall consider the needs and best interest of the community and use its sole discretion to determine community priorities and distribute accordingly. In the absence of a determination of special community need in any year, the net income shall be distributed as follows:
|Argenta Presbyterian Church||Fifty Per Cent (46.75%)|
|Argenta United Methodist Church||Thirty Per Cent (26.75%)|
|Argenta-Oreana Public Library District||Twenty Per Cent (26.50%)|
The first distribution from the Phyllis Madeline Winings Trust was in 1980, and her Trust has benefited the community ever since. As of 2019, a total of $3,463,058.89has been distributed to the churches and qualified charitable and governmental organizations of the Friends Creek and Whitmore Townships by this perpetual Trust. We recognize the generous benefactor who loved her community and recognized the importance of providing monetary benefit for qualifying organizations for special need projects.
If your local charitable or governmental organization is interested in more information regarding the Phyllis Madeline Winings Trust, please contact the Trust Department of The Gerber State Bank, PO Box 410, Argenta, IL 62501; Phone: 217-795-2331.
To access the public disclosure of Form 990 click the link below: