The Max Young Fund E-mail

The Town of Bridgetown has benefited greatly from the generosity of many of its residents (past and present), service clubs, community organizations and businesses. Many of the Town's facilities, such as the arena, swimming pool, tennis courts and Jubilee Park, would not exist today if not for donations made by individuals and organizations. These facilities are integral to the quality of life of the Bridgetown community and continue to offer recreational and social opportunities to area residents and visitors alike.

One donation that continues to have a positive impact on the community is the bequest made by the late Max B. Young, a former resident and business owner in Bridgetown. When Mr. Young died in 1974, he left the residue of his estate to the Town to be used for the continued operation of the Bridgetown Arena. The residue of his estate proved to be quite substantial, over $70,000, most of which was invested in shares of the Royal Bank and the Bank of Nova Scotia (now Scotiabank). Wisely the Town, in association with the Recreation Association, chose to keep the bank shares in the fund and use the dividend income to support the Arena.

The shares of both Royal Bank and Bank of Scotiabank have generated strong returns over the past 36 years. The fund has generated over $250,000 in dividend income that has been used for the Arena. Also, over $150,000 has been raised through the sale of shares to support major repairs and upgrades. The current day value of the fund is approximately $400,000 and it is generating about $12,000 annually in dividend income. Having funds available has also helped the Town and the Recreation Association obtain funding support from other levels of government to support repairs and improvements to the Arena, thus producing a multiplier effect for money in the Fund.

Examples such as the Max B. Young bequest and the recent donations to the New Fire Hall Project illustrate both the generosity of Bridgetown area residents and a desire "to give back to their community". Their wish is to see the Town continue to offer a high quality of life for current and future residents.

 
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