Lincoln Center Kiwanis Club

The Foundation

A BRIEF HISTORY

From the early 1920’s the Club owned and maintained Camp Kiwanis near Milford, Nebraska as a part of its program to be of service to young people in the Lincoln area.

When it became apparent that the Club’s resources were insufficient to finance major changes and improvements needed by the camp, Camp Kiwanis was sold in 1983 to the Nebraska Easter Seal.  The $108,000 purchase price provided the initial funding for the Kiwanis Club Foundation, Inc. of Lincoln.

GIFTS AND GRANTS

The Foundation receives gifts and grants in support of community service projects, and continues to welcome additional gifts to be used for such purposes. 

Gifts can be made in cash or property to accomplish the Foundation’s general purposes or a donor’s specific purpose.  Of particular interest are securities with a greater value than when originally acquired.  These can be exempted from capital gains tax when given to the Foundation.  Life insurance may be bequeathed to the Foundation in whole or in part.  Some Kiwanians pledge annual payments for a set or indefinite period.  A gift can be made as an endowment with only the income used for the donor purpose.  Special arrangements can be made for donors who wish to establish a charitable annuity. 

TRUSTEE GUIDELINES

Service projects considered by the Foundation shall substantially meet the following criteria:

· Grants shall be made to organizations which serve the needs of Lancaster County; however, there may be instances where an organization from another county serves or has a “community of interest” with Lancaster Country.

· Projects which shall be considered by the Foundation should be directed towards meeting the needs of youth, recreation and education.  Projects which serve low-income or needy individuals will also be considered.

· Service projects must be determined by the Board of Trustees as useful or helpful to the Kiwanis Club of Lincoln in carrying out the Club’s charitable and community service objectives.

Disbursement of funds will generally be limited to the amount earned from the investment of the assets of the Foundation. 

TRUSTEES

The Board of Trustees consist of not less than twelve members of the Kiwanis Club of Lincoln.  Four trustees are elected at the Club’s annual meeting every two years.  Terms are for six years, and Trustees may be reelected for a second term.  Trustees are not eligible for an additional terms until a lapse of two years following their second term.  The Secretary-Treasurer of the Foundation, elected by the Board, is an ex officio and has a vote. 

Board of Directors as of November 1, 2007

Dick Spellman (09), Larry Young (09), Dayle Williamson (09), Jerry Jordan (09), Don Miller (11), Warren Spencer (11), David Oseka (11), Sheldon Kushner (11), Brian Baxter (13), Doug Curry (13), Gwen Thorpe (13), Al Pearson (13), Steve Clements.

CHARTER

The Kiwanis Club Foundation Inc., of Lincoln, Nebraska was charted by the State of Nebraska effective March 1, 1960 by members of the Kiwanis Club of Lincoln, Nebraska.

TAX STATUS

The Kiwanis Club Foundation, Inc., of Lincoln, Nebraska is a nonprofit corporation exempt from state taxation pursuant to statute and federal taxation pursuant to Internal Revenue Code Section 501©(3). The federal identification number is 47-6038422.  Gifts to the Foundation are deductible to the done in accordance with law.

PURPOSE

To accept gifts, contributions, grants, funds and bequests of real and personal property and to hold, administer, invest, reinvest and expend the same for any program or purpose that is determined by its Board of Trustees as useful or helpful to the Kiwanis Club of Lincoln, Nebraska in pursuit of the Club’s charitable and community service objectives.