The Mason and Lula Cole Charitable Trust made awards to 34 Northern Neck community organizations last month, with contributions totaling $240,000.
Lula and Mason Cole, who enjoyed successful careers and were dedicated to the community, established this foundation by setting up trusts during their lifetime that would pass to a charitable foundation at their death, a release stated. Their desire and intent was to continue with their philanthropic mission for this community for many years to come.
Chesapeake Wealth Management, working with the Coles’ attorney, Ray Britt, Esquire, helped the Coles through this planning process to ensure their goals would be reached. By establishing this trust, the Cole family was able to save a significant amount of money in taxes, according to the release from CWM.
This year’s recipients include:
Animal Welfare League, The Bay Center, Bon Secours Richmond Health Care Foundation, Boys and Girls Club of The Northern Neck, Camp Kekoka YMCA, Chesapeake Academ...