Mustang Foundation holds annual banquet

There is no better investment than that of future investors.

The Mustang foundation held it's annual dinner last Saturday at the Stockman Terrace. It was a night to remember full of members who have invested time, money and life with Malta's finest. It's students.

The dinner was started off with Darlene Kolczak, President of the Mustang Foundation and it's board members introducing itself to the fifty plus members in attendance.

The night was filled with music, prizes and ribs and salads.

The highlight of the night was when Kolczak and the board presented Malta Trails with a check, upon hearing of their fundraiser.

"Malta Trails is in a fundraiser at this moment," Kolczak said to the crowd. "They've got a grant for $90,000, but they have to have a $20,000 match."

She then invited Kendra Veit, a member of Malta Trails to accept a check on behalf of the group for it's benefit.

"As part of that (fundraiser), we would like to give the Malta Trails $5,000 to start fund-raising," Kolczak said.

She then talked of how well the foundation has done in the last few years for fund-raising of their own, thus allowing them to help future graduates monetarily.

"We are in pretty good financial shape to be honest with you," she said.

A few years ago, upon receiving money from a couple of sources, including (the Dyrdahl estate and the Landusky School), the foundation decided to invest into Malta graduate Micah Lang's investment firm and to Allied Investments in Billings.

"Over the past couple of years, Micah has made us 10 percent and Allied has made us 8.5 percent," Kolczak continued.

Their original percentages were supposed to be only 4 percent.

The goal was to use the money to fund the foundation's 18 annual scholarship applications.

"When the foundation was formed, the end goal was that every student that applied as a senior for a scholarship, got a scholarship. That's our end goal," Kolczak said.

The foundation came up with up with a few suggestions for the company's future.

One key suggestion was for the the expansion of the Norman and Rose Dyrdahl Memorial Scholarships.

This is a scholarship program in which the top ten are eligible for our of four scholarships under the Rose Dyrdahl scholarship and where four students student not in the top ten can earn a scholarship under the Norman Dyrdahl scholarship.

The idea was to award two more scholarships in each category each year so that twelve total students were eligible.

Sounds like a great idea in the spirit of this nation's "No child left behind" campaign, but there may be rules stopping the foundation.

"Not sure legally if we can do that, we would have too get together with the executors of that found to see if we can add more scholarships to that," Kolczak continued.

She then presented another option, that option would be to add money to the existing scholarships, making a $500 scholarship, a $600 scholarship, depending on the money the foundation has.

"Or we just start a whole new set of scholarships," she said.

She invited members to express their thoughts on the future scholarships, the company could give due to it's comfortable financial situation.

"It doesn't look like were going to have to take out any money in our investments for this year. We have plenty of money in our accounts," she said.

Other than scholarships, the foundation is looking for other ways to invest in the community, which was the main reason for its donation to Malta Trails.

Wayne Moyer gave money to the foundation, which was used for students going into the medical field and for students interested in the arts. High School seniors and college students are both eligible for the Moyer scholarships.

Another one time scholarship fund, was provided to the foundation from the First State Bank of Malta and First State Bank.

The details of that scholarship have not been finalized and will be up to both principal Scott King of Malta High and Marty.

"They are going to work out the details," Kolczak said.

"Can't hardly wait Mrs. Kolczak," King added.

One possibility is that the scholarship will be based on community service, which is among the most noble deeds a student can provide.

The foundation is looking forward to enlisting the help of future local investors from the school staff and community of Malta.