web analytics

Categorized | News

Cossin Trust being terminated

By Judy Reed

For many years the Cedar Springs Ministerial Association has given to those in need in the community during the holidays with funds it receives from the trust left by the late Evelyn Cossin. In the future, they may have to come up with the funds some other way.

Bank of America no longer considers it viable and is exercising their right to terminate the Evelyn Cossin Trust. On February 14the Council approved for the city to sign the appropriate documents to terminate the trust and distribute the final assets of the trust.

There are several beneficiaries, including Silent Unity, Guideposts Foundation, West Lebanon Cemetery, the City of Cedar Springs, Chicago Theological Seminary, and the Town of Cedar Springs. 

According to City Finance Director Darla Falcon, the city’s portion is forwarded to the Ministerial Association for the holiday distribution of gifts to those in need. The last check received from the trust was in October 2017 for $1,554.68.

The Post asked Pastor Craig Owens, of the Cedar Springs Ministerial Association what they might do in the future to fund the holiday giving.

“We typically have received $1,000 per year. In December 2018 we simply gave money away out of our general fund, in the anticipation that we would receive a check. I believe the heart of all of our pastors is to find practical and tangible ways to address the needs of people in our city and surrounding community. We haven’t made any firm plans going forward, as we are still unsure of what the closing of this fund will actually mean to us,” he said.

In addition to the trust, Cossin also left a $15,000 CD in a separate account, with the interest to be used for the city streetlights, including the lights on the large Chrismas tree at the Reep family home at 427 Northland Drive, at the south end of town. Cossin was the former owner of the home, and used to decorate the tree each Christmas in red and white lights. The city has continued that tradition. When she died several years ago, she left the CD that helps the city with a portion of the expenses to maintain the tree each holiday season. The interest from the CD last year was $231; and so far this year it is $186. The City paid Mr. Reep $216 to light the tree last year and paid $400 to a tree service to replace to fix the bulbs. On average the City pays about $500 per year to light the tree and other Christmas lights downtown. 

This post was written by:

- who has written 19598 posts on Cedar Springs Post Newspaper.

Contact the author

Comments are closed.



Get Your Copy of The Cedar Springs Post for just $40 a year!