This fund is derived from two irrevocable trusts established on behalf of the BSCES by Karl R. Kennison, a Past President (1938-1939) and Honorary Member of the Society. The trusts were established on August 29, 1960, and January 17, 1961. The trusts consisted of shares in the Massachusetts Fund, with the Massachusetts Company, Inc. as trustee. The total original market value of the trusts was $8,171. Three conditions of the trusts were that after Mr. Kennison's death: (1) the net income from the trusts shall be paid to BSCES for a Hydraulics Lecture Fund to be used for various public lectures on the subject; (2) the Board of Government could withdraw the principal of the trusts on written demand; and (3) the Board of Government may make changes in the use of the trusts as it may determine are warranted.
Mr. Kennison died in April 1977. The principal was withdrawn from the trusts by the Board of Government in 1978 and placed in the "Karl R. Kennison Fund."
Currently, the Environmental & Water Resources Institute (EWRI) Boston Chapter oversees the use of the fund to ensure it is utilized for its intended purpose.
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