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Junior League of
Bakersfield
Community Center Endowment Fund
Purpose
The Junior League of Bakersfield Community Center Endowment
Foundation will provide for the perpetual care of the historic
facility as it is used for the Junior League of Bakersfield for the
betterment of the community.
History
In 2003 it was both a dream and a goal of the Sustainer Committee to
hold a luncheon to help raise funds to begin an endowment fund to
help benefit the Community Center. In the spring of 2003 a luncheon
was held which raised the initial $5,000.00 that was deposited in
the endowment account. In the spring of 2004 a brunch with speaker
Sharon Lovejoy was held and another $5,000.00 was deposited.
Investigation regarding depositing the money with the Kern County
Community Foundation or other entity was an ongoing process
concurrent with the planning for the first event to raise funds for
the endowment. It was decided that the organization would deposit
our funds with the Kern Community Foundation due to their reputable
stance in the community, their availability to earn increased
revenue on our deposited funds, the lack of need to buy insurance
for a governing body to over see the funds and the availability of
funds when and if needed. |
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An impermanent fund was set up which
allowed us the ability to withdraw the funds at any time for funding
requests for the Community Center or to move the endowment to
another financial institution. Mrs. Judith Chase, a Junior League of
Bakersfield sustainer and Mr. Noel Daniels, husband of a Junior
League of Bakersfield member, were instrumental in helping us set up
the endowment with the Kern County Community Foundation.
The Policies and Procedures were developed by the initial Community
Center Endowment Committee with input from the JLB Sustainers, JLB
Board of Directors, and the Community Center Committee. The
five-member committee included Tracy Burrell, Ginnie Kirchenman,
Marilyn Shaffer, Nancy Smith, and Jeanne Young. Request for funding
forms were developed and the process for requests and funding was
delineated.
The endowment fund will provide a vehicle for which funds could be
raised or donated for the operating, enhancement and beautification
of the Community Center. An aggressive campaign to get sustaining
member to donate to the endowment pursued. The development of a
process for which memorial gifts, honorary gifts, estate planning
and the like was instituted. 12-8-04 |
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