Trust for groundskeeping has grown

Managers want new ability to invest the Reynolds funds better to help Stokes school

By Lisa R. Boone
Winston-Salem Journal

WESTFIELD

When Kate Bitting Reynolds died in 1946, she left a modest bequest to the Stokes County school named in honor of her mother-in-law, Nancy Jane Cox Reynolds.

But there’s a hitch. The money could be used only for groundskeeping.

Her $25,000 gift has grown to more than $730,000. And now the managers of the trust say that it’s time for a change.

Administrators at Wachovia bank want to be able to invest the trust money more aggressively and also give Stokes school officials more discretion in how the money is spent.

Since two contributors on here have very strong ties to Nancy Reynolds School, I would like to hear their thoughts on this issue.