Sen. Stack Appointed to Board of Trusts

PHILADELPHIA, MARCH 23, 2010 — State Sen. Mike Stack has been appointed to the Board of Directors of City Trusts.

The board is responsible for overseeing the administration of the Estate of Stephen Girard, Girard College and Wills Eye Health System, as well as 118 other trusts left to the City of Philadelphia for charitable purposes.

“I’m pleased and honored to be appointed to this position and I look forward to this new responsibility,” Stack said. “It’s important that there is adequate oversight of these trusts and that the city carries out its promise to maintain the trusts in the proper manner.”

The Pennsylvania General Assembly formed the board in 1869 as a way to help Philadelphia manage the numerous trusts that have been left to the city.

Membership consists of 12 citizens of Philadelphia, as well as the mayor and the president of City Council, who serve ex-officio. The board members, who serve without compensation, are appointed by and held accountable to the judges of the Courts of Common Pleas of Philadelphia.

“As lifelong resident of Philadelphia, I have seen the board’s significant contributions to the daily lives of Philadelphians. Joining the board is a great way for me to help the city and people that I love and serve,” Stack said. “It will provide me yet another opportunity to help make Philadelphia a better place to work, live and raise a family.”

Stack, who is admitted to the Pennsylvania and Maryland bars, is the Democratic vice chairman of the Appropriations Committee and Democratic chairman of the Banking and Insurance Committee. He also serves as a captain in the Pennsylvania Army National Guard’s 28th Infantry Division, Judge Advocate General Corps.

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