$2 Million Trust to Benefit Springbrook

“Modest” and “unassuming” were often the adjectives people used to describe Robert (Bob) Kraemer. a longtime barber in his hometown of Esperance, New York.

Mr. Kraemer in earlier days worked as a custodian at IBM. It was while at IBM that he purchased 40 shares of IBM stock. And, it is these same shares, combined with Bob Kraemer’s quiet dedication to Springbrook, that today form the basis of a remarkable inter vivos trust worth over $2 million and slated to benefit Springbrook in perpetuity.

Using the original 40 shares of IBM stock, Bob Kraemer quietly reinvested all his stock dividends year after year. By the time of his death in fall 2005, the worth of this investment had ballooned to over $2 million. Placed in a Wilber Bank inter vivos (or living) trust back in the 1980s, income from the Robert F. Kraemer Charitable Trust now will benefit Springbrook in perpetuity.

“It simply goes to show how someone from everyday circumstances can have a tremendous charitable impact for years after their death. We are so very, very thankful that Bob chose to remember the children and adults of Springbrook.”

Plans now are underway to memorialize Mr. Kraemer’s generosity on Springbrook’s main campus in Oneonta.