High Point group trying to raise $50,000.
By Todd Cohen
HIGH POINT, N.C. [03.24.04] — Borrowing a page from the High Point-Thomasville chapter of the American Red Cross, the Arc of High Point has launched an endowment drive.
The goal of “Campaign 50/50,” which will end May 22 at an event celebrating the group’s 50th anniversary, is to have 50 individuals raise $1,000 each.
“I intend to run the campaign every year for as long as I’m here, and until we get $1 million,” says Justin D’Joseph, president.
When he joined the organization in June 2002, he says, he found the organization’s budget had been flat for the previous five years.
“For a $1.5 million organization, small as it is, it was my belief, and is now, that we need to put some money away for a rainy day,” he says.
The idea for the endowment drive is based on a three-week “Heroes” drive by the Red Cross chapter to raise $63,000 by enlisting 63 donors to give $1,000 each.
Chuck Alt, a lawyer with the firm of Wyatt Early Harris Wheeler and an Arc board member and its former chair, is working on the Red Cross campaign.
“We do not have a rainmaker on our board, or even wealthy people,” D’Joseph says. “But we know a lot of people who may not be able to afford $1,000, but can afford $50 or $100.”
Each volunteer will try to raise money by visiting five to 10 potential donors, and anyone making a gift will get a one-year free membership to the Arc and a free ticket to the group’s annual Spring Fling fundraising event.
Interest income on the endowment, to be controlled by the Arc board, will be used only to support operations, although the board, by an 80 percent vote, will be able to tap the endowment principal for other purposes.
The endowment will be housed at a bank until it totals $100,000, D’Joseph says, and then may be transferred to the High Point Community Foundation.
The Arc also will launch a program by June 30 to develop planned gifts, such as charitable remainder trusts, through wills, insurance and estate planning.
Donors will be able to make planned gifts to the Arc, to specific Arc programs or to individuals the organization serves.
The Spring Fling, to be held June 12 at City Lake Park, aims to net at least $10,000, up from $8,000 last year.
The Arc also is on track to raise $12,000 in its annual drive that ends June 30, up from $1,000 last year.
The Arc serves 500 people with developmental disabilities and their families, up from 400 last year, and expects that number to grow to 600 in the fiscal year that begins July 1.