News Column

Endowment fund made for J.M. Davis Museum

July 3, 2014

By Tom Fink, Claremore Daily Progress, Okla.

July 03--CLAREMORE -- Oklahoma Gov. Mary Fallin recently signed a bill into law that creates an endowment fund for the J.M. Davis Arms and Historical Museum.

This legislation allows the museum to deposit donations into a special fund that will draw interest.

The museum can use the interest, while leaving the principal untouched.

"This (endowment) gives the museum another important tool to assist with funding," said Wayne McCombs, J.M. Davis Museum executive director.

"Many businesses and corporations like the idea that their initial gift will keep growing each year. The passage of this bill demonstrates the commitment that the legislature has to this part of the state and to this Oklahoma treasure."

Originally presented as SB 1979, the legislation was authored by Sen. Sean Burrage. It was sponsored in the house by Rep. Marty Quinn and co-sponsored by Rep. Ben Sherrer.

The fund shall be a "continuing fund, not subject to fiscal year limitations, and shall consist of all monies received through donations, appropriations or interest earned by investment of monies in the fund."

The bill passed the Senate 46-0 and the House 80-8, and goes into effect on Nov. 1.

"The Davis Museum is extremely grateful for the leadership provided by our state delegation," McCombs said.

"The governor told Marty (Quinn) and I at the signing that she has been to the Davis Museum many times and knows it is a great asset to the state's tourism industry."

The J.M. Davis Arms & Historical Museum is the largest privately-owned arms museum in the world. It houses more than 50,000 unique items including firearms, swords and knives. It is located at 5th Street and J.M. Davis Boulevard in Claremore.

Hours of operation are 8:30 a.m. to 5 p.m. Monday through Friday, 10 a.m. to 5 p.m. Saturday, and 1-5 p.m. Sunday.

Admission is free but donations are welcomed.


(c)2014 the Claremore Daily Progress (Claremore, Okla.)

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Source: Claremore Daily Progress (OK)

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