Tower Foundation Supported Community

By Bill Vetter

Upon his death in December of 1932 George Winchell Tower, through his will, launched a charitable organization that benefited the Waterville area for over 90 years.

He never married and felt compelled to contribute to his village. Initially, Mr. Tower asked that the “Waterville Home for Homeless Ladies” be organized to support local elderly women in need of a stable, safe environment.

The bulk of his estate was to be used to sustain this organization.

The appointed board determined that Mr. Tower’s residence at 353 Putnam St. was well suited for the purpose of housing these clients. State mandated changes were made so that as many as eight ladies could be accommodated in addition to a Matron who oversaw their welfare.

Kept ledgers show everything from a bag of potatoes to a $500 check were donated to the “inmates” as they were then called.

Over time, 43 individuals called this lovely residence their home.

Some lived there for decades. The last boarder left in 1974 and then a question arose.

What should be done with the remaining assets of George Tower’s estate and how would future expenditures meet the final wishes of this generous man?

The George W. Tower Foundation was organized.

The Tower Board decided to sell the Putnam Street house and combine those proceeds with the equity already on hand.

This lump sum was not to be invested adventurously.

Because of that stipulation the principal would dimmish yearly.

Each year since the early 1970’s disbursements have been given to benefit a wide range of community needs such as area ambulance corps, Waterville Public Library, Fire Departments, Waterville Area Food Bank and many local medical establishments.

Scores of local residents have benefited in a variety of ways from the Tower Foundation.

After nearly a century, George Tower’s endowment has been exhausted.

More than half a million dollars in assistance has quietly been ...