Foundation acquires Marxen trust funds

VW independent/submitted information

Van Wert County Foundation Executive Secretary Seth Baker announced the acquisition of the Norman L. Marxen & Mary E. Marxen trust funds. For several years, the funds of the two former Van Wert residents were managed by an out-of-state institution. 

Dr. Thomas Marxen of Sammamish, Washington, son of the late Dr. Norman Marxen, said he had wanted to return the funds to the home where his father lived and had practiced surgery for many years at Van Wert County Hospital. His stepmother, Mary Marxen, was a musician and choir director at St. Mark’s Lutheran Church of Van Wert.

Tom Marxen has been a long-time friend of Paul Hoverman since playing trumpet together in Van Wert bands. Their friendship has continued over the years, and their discussions led to bringing these funds totaling over $1.2 million to The Van Wert County Foundation. Hoverman has since retired from The Foundation after 17 years as its coordinator of performing arts.

“I am pleased to have the funds return to Van Wert and benefit local students,” Dr. Marxen noted. “It is because of my trust and friendship with Paul and the integrity of The Van Wert County Foundation that I chose to move this fund.” 

Bringing the funds to The Van Wert County Foundation restores the original intent of his father’s trust agreement. The income from The Norman L. Marxen Scholarship Fund will be awarded to a student attending an accredited school, college, or university to study medicine, while the income from the Mary E. Marxen Scholarship Fund will be awarded to a student attending an accredited school, college, or university offering a course of study leading to a degree in music.  

These scholarships are to be awarded to students who reside in Van Wert County.

The Van Wert County Foundation is a nonprofit community organization serving Van Wert County and surrounding areas by inspiring philanthropy and mobilizing resources to create a well-resourced and thriving quality of life for our community. Recently, VWCF awarded scholarships to 307 local college students, totaling over 1 million dollars. 

More information is available at www.vanwertcountyfoundation.org.