ASHLAND – The founders of a company that sells and services heating, ventilation and air conditioning products will cheer the community upon retirement – and now from their checkbook.
Jeff and Joy Reep, recently retired from Comfort Control, received a donor-advised fund from the Ashland County Community Foundation on Friday at their retirement party.
“They’re in the service industry,” said Joe Reep, the couple’s son.
Joe Reep recently took over as business owner after joining the team seven years ago.
Jeff and Joy Reep serve on several boards of directors in the Ashland area, including the Ashland Lank Bank, the Ashland YMCA, the Ashland County Historical Society and others.
“We knew a gift like this would resonate… it made sense,” said Joe Reep.
A donor advised fund, a type of endowment fund, is similar to a private foundation. It allows trustees “to make grants to support organizations, programs and projects.” This type of fund allows you to add money to your fund on a schedule and distribute dollars from your fund to another, to maximize tax benefits and have money available when you are ready. to give, ”reads the Ashland County Community Foundation website.
The couple came to Comfort Control’s premises along Main Street on Friday, awaiting a retirement celebration. The parking lot filled with guests, two food trucks, a beer tent, games and cakes.
About an hour into the celebration, Joe Reep grabbed a microphone to announce that his parents would now have their own donor advised fund.
“He got me a voucher,” said Jeff Reep, 63, moments after the announcement. “This is the most impressive gift we can imagine. It’s so cool – that we can live like this, and other people will benefit from it? I am honored.”
Comfort Control began in 1980, shortly after Jeff and Joy got married.
“Yes, like the following Monday,” said Joy Reep, who worked as a copywriter at an advertising agency at the time. She eventually quit this job to work for the company.
The couple will celebrate their 40th wedding anniversary on August 30.
Joy Reep said she was overwhelmed by the gift.
“I am proud, happy.”
She said she hopes they can travel and spend time with their retired grandchildren – all of whom live locally.