The Tyson Fund was established by Mr. James Tyson to help relieve the financial burden of the citizens of the Town of Versailles. Mr. Tyson was raised in Versailles and made his fortune by becoming the first investor in Walgreen Drug Company. Mr. Walgreen lived in the same Chicago boarding house as Tyson and wanted to open a second drug store. Tyson loaned Walgreen the money to do so, and the drug store chain was born. The Tyson Fund was started in 1930 with 18,000 shares of Walgreens stock. Today, the fund is a diversified portfolio managed by JP Morgan worth $20 million. Since 1931, the fund has distributed $24 million dollars to the Town of Versailles and organizations in Versailles that meet Mr. Tyson’s criteria for funding. In addition to establishing the fund, Tyson built the Tyson School, Tyson Library, and Tyson Methodist Church, which is on the National Register of Historic Places. The church’s architecture features styles Tyson saw in his many trips abroad and is full of biblical symbolism. The Tyson Library is the only private library in the state of Indiana, as its funding comes from the Tyson Fund and other grant funding rather than from taxes. Versailles also had public waterworks well ahead of other small towns because Tyson built the water and sewer systems. Tyson’s forethought in establishing a fund to benefit his town has had an incredible impact on Versailles’ infrastructure, organizations, and citizens. Numerous projects have been supported and enabled by the fund, such as new water lines, sewer system upgrades, road improvements, the sports complex, playgrounds, and more without being a tax burden on the citizens of Versailles. Additionally, organizations in Versailles have been able to improve quality of life for citizens through the support of the Tyson Fund. The fund is administered by a Board of Trustees. Applications for the fund are accepted each July and awards are made on James Tyson’s birthday, September 14th, at the Tyson Methodist Church. Residents of the town are encouraged to come to the birthday celebration and awards to be aware of, vote on, and appreciate the projects the fund supports. The Tyson Fund is a Lead Sponsor of Main Street Versailles.
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November 2023
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