Bloomington Foundation

About the Bloomington Kiwanis Foundation

The Foundation is a legal entity formed to collect, invest, and disburse funds for charitable purposes. It is a Tax-Deductible Charitable Fund to be used for “deserving children" and administered by the Bloomington Kiwanis Club Board of Directors. The Foundation committee meets quarterly to review Investments, the Investment policy and handle disbursement.

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History of the Bloomington Kiwanis Club Foundation

It all started with one Kiwanian. Milton V. Stagg was a long-time member of the Bloomington Kiwanis Club. Milton passed away in 1963. When his wife passed away in 1967, in her will she left 15% of her estate to the Milton V. Stagg Memorial Fund. Fifteen percent of Mrs. Stagg’s estate came to $40,187.58. This $40,187.58 Memorial Fund was to be used for deserving children.
 
In 1990 the club sold a cabin at East Bay Camp for $50,000. With the Milton V. Stagg Fund plus the $50,000 from the sale of the cabin, the Club started a foundation. On Aug. 5, 1993, the Bloomington Kiwanis Foundation was formed. Today, the Bloomington Kiwanis Foundation is an official 501(c)(3) charitable foundation.

Purpose

The purpose of the Foundation is to help deserving children in McLean County. The primary purpose of the Foundation is to keep Camp Limberlost going. The Foundation is our safety net in case our annual fundraising activities fall short.

How Do We Invest the Foundation Assets?

The Foundation committee invests the assets of the Foundation. Approximately 70% of the assets are invested in no-load equity mutual funds and the remaining 30% is invested in no-load bond funds and money market funds. 

Why is this fund important?

The fund allows people to give tax-deductible gifts to Kiwanis. The fund also provides budget support for annual club projects. We need to continue growing this fund to ensure income for Camp Limberlost. 

What can you do?      

  1. Donate a Life Insurance policy, naming the Foundation as the beneficiary. 
  2. Name the Bloomington Kiwanis Foundation in your will.
  3. Tell family you would like to have memorial gifts made to the Bloomington Kiwanis Foundation. 
  4. If possible, help secure a matching gift from your employer.
  5. Donate unrestricted dollars to the Bloomington Kiwanis Foundation as gifts.

Mail check to:  

Kiwanis Club of Bloomington
ATTN: Charitable Foundation
PO Box 133
Bloomington, IL 61701