Through the benevolence of Frank G. Pierce, the residents of the Marshalltown Community School District and Marshall County have a unique source of educational loans.
At age 25 Mr. Pierce served as Marshalltown’s “boy mayor” from 1895 to 1901. During his lifetime he was a dominant figure in state political circles. In 1898 he organized the League of Iowa Municipalities and served as its secretary for 47 years.
Frank Pierce died January 23, 1947 and left his estate to his wife, Nellie, with the provision that on her death the residue would be placed in trust as a revolving educational fund to be loaned to qualifying students at a low interest rate.
The trust is a nonprofit institution administered by a board of trustees comprised of individuals serving in the following positions: Mayor of the City of Marshalltown. President of the School Board of the Marshalltown Community School District, President of the Rotary Club of Marshalltown, Group President of Great Western Bank in Marshalltown, and a member of the Masonic Lodge of Marshalltown.