Kiwanis Foundation of Charlotte County Inc
PO BOX 510273
PUNTA GORDA FL 33951-0273
Mission
In January of 1983 the Kiwanis Foundation of Charlotte County, Inc. was founded as an “Endowment Foundation” to provide scholarships to graduating Charlotte County high school seniors.
Leadership
CEO/Executive Director No Executive Director
Board Chair Bill Klossner
Board Chair Affiliation Retired
General Info
Tax Exempt Status Public Supported Charity
Incorporation Year 1984
State Charitable Solicitations Permit Yes Mar 2018
State Registration Yes Jan 2018
Financial Summary
 
 
Projected Revenue $151,940.00
Projected Expenses $79,683.00
IRS Letter of Determination
IRS Letter of DeterminationView
Impact Statement
  1. Awarded and Funded $75,500 in scholarships to graduating Charlotte County high school seniors in 2015. Total awards since inception now exceed $600,000.
  2. Move our nomination, application, and approval process online through the utilization of online forms.
  3. Maintained contact with 15 financial assistance renewal scholarships in 2015, continuing the foundations mission of helping deserving Charlotte County youth to complete college. 
Needs Statement
  1. Foundation Fellows: Anyone contributing $1,000 or more in a single year receives this honor.
  2. Endowed Fellows: Anyone contributing $20,000 or more in a 4 year period receives this honor, and an award in their name in perpetuity.
  3. Executive Director: The foundation has been considering the jump to paid staff for years. If the first year of funds for a paid executive director could be provided, this timeline could be advanced. (Estimated at $50,000.)
Background Statement

In January of 1983 the Kiwanis Foundation of Charlotte County, Inc. was founded as an “Endowment Foundation” to provide scholarships to graduating Charlotte County high school seniors.

Through the generosity of many Kiwanians, friends of Kiwanis, and the careful stewardship of the Board of Trustees, the Kiwanis Foundation of Charlotte County Inc. has grown to in excess of $1,550,000. Over the course of its life, the foundation has awarded $841,000 to 652 Charlotte County students, in the form of scholarships to assist them in realizing their goal to attain education beyond the secondary school level.

Our board of trustees, both past and present, consists of a broad cross-section of active and retired business professionals, community members, and elected officials. Our board currently includes members from the accounting, banking, medical, financial, and legal professions as well as members representing the school board and county government.

The endowment fund is professionally managed by Charlotte State Bank & Trust and monthly financial statements as well as annual fillings with the Internal Revenue Service in the state of Florida are prepared by Webb, Lorah and Company, P.L. Certified Public Accountants.

The Kiwanis Foundation of Charlotte County, Inc. was approved as an organization exempt from federal income tax under section 510(c)(3) of the Internal Revenue Code on January 30, 2985. The Federal Employer Identification Number is 59-2379416.

Areas Served
Areas Served
Area
FL- Charlotte
Areas Served Comments We serve graduating Charlotte County high school seniors from Charlotte High School, Port Charlotte High School, & Florida Southwestern Collegiate High School.
Service Categories
Primary Org Type Education
Secondary Org Type
Tertiary Org Type
Statement from the Board Chair/Board President
The Kiwanis Foundation of Charlotte County, Inc. is very proud of its accomplishments and growth since 1983. The trustees also realize we have just scratched the surface regarding the needs of Charlotte County youth relative to post–secondary educational expenses.

With that in mind, we continue working tirelessly to grow our endowment so that future earnings will provide scholarship aid to those with the desire and ability to further their education. With continued escalation of college expenses, we know growing the endowment fund is more important than ever. We will continue working closely with area high schools and educators to identify those students meeting our scholarship guidelines and are continually impressed with the caliber of young adults we have the opportunity to meet through our scholarship interview and award program.

As Foundation president, I look forward to working with the trustees and local educators to ensure we are doing everything possible to promote higher education. Since its inception, the Foundation has granted almost $600,000 in scholarships to 533 deserving Charlotte County students. With a strong and growing endowment, we will be able to provide financial assistance to Charlotte County’s youth forever.


Frank Desguin, President
Programs
Description

Each year the foundation awards 15% of its annual scholarship budget to Merit award recipients. These students excel both academically, and in extracurricular activities. Students in this category are often involved in advanced placement courses or dual enrollment activities with local colleges, and often have GPA’s well above 4.0.

Students seeking this award are interviewed by trustees, and roughly half are selected after a detailed interview process. It should be noted that the trustees are aided in the selection of potential students by guidance counselors at participating high schools.

A typical Merit Scholarship Award is $750 to $1,000 per student. Expenses below are based on the most recently filed IRS 990 (ending 9/30/2015).

Students submit proof of enrollment and attendance with the start of the next academic semester, after which their award is funded. 
Budget $11,662
Category Education, General/Other Student Financial Aid
Program Linked to Organizational Strategy Yes
Population Served Adolescents Only (13-19 years) Adolescents Only (13-19 years) Adolescents Only (13-19 years)
Short Term Success In each of the last three years, 100% of the students selected for Merit Awards enrolled and attended their first year of college. 
Long Term Success
We believe that the Merit Scholarships accomplish two overarching goals:
  1. Publicly congratulate students for their success in High School, encouraging these positive behaviors for later in life. 
  2. Introduce students that are likely to succeed to community volunteerism and Kiwanis International. 
Program Success Monitoring Since Merit awards are one time non-renewable scholarships, the goal of this program is mainly to recognize the accomplishment of successful graduating seniors. That said, we are very proud that 100% of our recipients in each of the last three academic years enrolled and began attending their college of choice. 
Program Success Examples
  1. 100% of Merit Award recipients in the last three academic years enrolled and began attending their college of choice. 
  2. One of our current trustees was a recipient of a Merit Award in 2003. He credits the foundation's recognition for his interest in community service through Kiwanis when he returned to Charlotte County after college. 
Description

 

Each year the foundation awards 85% of its annual scholarship budget to Financial Assistance award recipients. In addition to exceling both academically, and in extracurricular activities, these students must also have demonstrated financial need (as evidenced by their parent/guardian’s most recent IRS 1040). Additionally, students must meet a minimum GPA threshold of 3.0.

Students seeking this award are interviewed by trustees, and roughly half are selected after a detailed interview process. It should be noted that the trustees are aided in the selection of potential students by guidance counselors at participating high schools.

A typical Financial Assistance Scholarship Award is $2,000 to $3,000 per student depending on the overall budget for the year. Expenses below are based on the most recently filed IRS 990 (ending 9/30/2015).

Budget $66,088
Category Education, General/Other Student Financial Aid
Program Linked to Organizational Strategy Yes
Population Served Adolescents Only (13-19 years) Adults Adolescents Only (13-19 years)
Short Term Success

 

 

Student testimonials:

“This award has meant the difference between me going to a four year university. This award has inspired me to keep striving for excellence at Florida State University.”

-First Year Student

“My family has had so many issues with money and other personal problems over the last few years and this foundation has given me what I need to be a better student.”

-Second Year Student

“I don’t have family that I can depend upon financially. Knowing I have such an amazing organization looking out for my future has inspired me daily. The last two years I don’t know how I’d pay for all the costs that come with college if it was not for Kiwanis scholarships.”

-Third Year Student

 

Long Term Success
  1. In the past two years, 100% of the Financial Assistance Award recipients have enrolled and begun attending their college of choice.
  2. In 2015, 55% of the Financial Assistance Awards were renewals of awards to students that received scholarship funds from the Kiwanis Foundation in Previous years.
  3. We are still developing metrics for students that receive awards for all four years of their undergraduate degree (but there are many). We even have one student that we assisted in completing a doctoral degree.
Program Success Monitoring
As noted previously, we are working to develop long term metrics for the percentage of students that receive renewal awards for all four years of their undergraduate degree. That said, here are some of the conditions students must meet for consideration:
  1. Students provide their transcripts during each renewal:
  2. Students must maintain a satisfactory GPA (generally in excess of 3.0)
  3. Any Dropped or Incomplete classes must be explained.  
  4. Students write an essay detailing their accomplishments for the year, and their aspirations for the coming year.
Program Success Examples

We feel this student says it quite well:

“This scholarship has paid for half of each academic year’s tuition for the past three years I have been in college. […] Over the course of three years this scholarship has allowed me to take 18 college courses that I wouldn't have been able to take without your help. During my final year is a student internship where I will be teaching in a classroom five days a week and will be unable to continue my job as a substitute since I will already be at the school every day. […] It would truly be an honor to receive this scholarship renewal, and I would be extremely grateful.” (This student received a fourth renewal).

-Fourth Year Student

CEO/Executive Director
CEO/Executive Director No Executive Director
CEO Term Start 0
CEO/Executive Director Email N/A
Former CEOs/Executive Directors
NameTerm
Senior Staff
NameTitle
Staff & Volunteer Statistics
Full Time Staff 0
Part Time Staff 0
Staff Retention Rate % N/A
Professional Development No
Contractors 0
Volunteers 15
Management Reports to Board N/A
CEO/Executive Director Formal Evaluation N/A
Senior Management Formal Evaluation N/A
Non-Management Formal Evaluation No
Collaborations
The Kiwanis Foundation of Charlotte County works collaboratively with the Sunrise Kiwanis Club and the Punta Gorda Kiwanis Club. All members of the Foundation's board of Trustees are also members of a respecitve Kiwanis Club. 
External Assessments and Accreditations
Assessment/AccreditationYear
Risk Management Provisions
Plans
Fundraising Plan No
Communication Plan No
Strategic Plan No
Strategic Plan Years
Strategic Plan Adopted 0
Management Succession Plan No
Continuity of Operations Plan No
Policies
Nondiscrimination Policy No
Whistle Blower Policy No
Document Destruction Policy No
Directors and Officers Insurance Policy Yes
Policies and Procedures No
Board Chair
Board Chair Bill Klossner
Company Affiliation Retired
Board Term Jan 1983 to Jan 2017
Board Chair Email
Board Members
Board Members
NameAffiliation
Ray Anderson Retired
Frank Desguin Retired
Craig DeYoung Charlotte State Bank & Trust
Eric DeYoung Charlotte State Bank & Trust
Carl Gerace Gulf Coast Financial Group
Justin Gerow Primerica
Joan Greene Accurate Accounting
Bill Klossner Retired
Robert Koch Community Volunteer
Dr. Joseph Maggiore Maggiore Dental
Mike Ruiz Charlotte Sun Newspaper
Ron Smith Florida Southwestern College
Lee Swift Charlotte County School Board
Rodney Taylor Charlotte Insurance
Eddie Webb Webb Lorah CPA
Constituency Includes Client Representation No
Board Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 14
Hispanic/Latino 1
Native American/American Indian 0
Other 0 0
Board Gender
Male 14
Female 1
Unspecified 0
Governance
Board Term Lengths 3
Board Term Limits 99
Board Orientation Yes
Number of Full Board Meetings Annually 12
Board Meeting Attendance % 73
Board Self-Evaluation No
Written Board Selection Criteria No
Board Conflict of Interest Policy Yes
% of Board Making Monetary Contributions 100
% of Board Making In-Kind Contributions 100
Standing Committees
Finance
Scholarship
Fiscal Year Projections
Fiscal Year Begins 2015
Fiscal Year Ends 2016
Projected Revenue $151,940.00
Projected Expenses $79,683.00
Organization has Endowment Yes
Endowment Value $1,467,037.00
Endowment Spending Policy Income Only
Capital Campaign
Currently In a Capital Campaign No
Campaign Purpose
Campaign Goal
Campaign Dates 0 to 0
Amount Raised To Date 0 as of 0
Historical Financial Review
Expense Allocation
Fiscal Year201520142013
Program Expense$77,750$60,750$39,500
Administration Expense$17,873$17,301$16,999
Fundraising Expense$3,124$0$0
Payments to Affiliates$0$0--
Total Revenue/Total Expenses1.260.961.39
Program Expense/Total Expenses79%78%70%
Fundraising Expense/Contributed Revenue5%0%0%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$1,467,038$1,501,229$1,428,972
Current Assets$1,467,038$12,214$13,246
Long-Term Liabilities$0$0$0
Current Liabilities$0$0$0
Total Net Assets$1,467,038$1,501,229$1,428,972
Top Funding Sources
Fiscal Year201520142013
Top Funding Source & Dollar AmountInvestment Income $66,534Investment Income $13,975 --
Second Highest Funding Source & Dollar AmountContributions, gifts, grants $54,695Contributions, gifts, grants $5,387 --
Third Highest Funding Source & Dollar AmountFundraising $2,842Net gain from sale of assets $120 --
CEO/Executive Director Compensation
Solvency
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities------
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%0%0%
Financials Comments
Financial Comments by Foundation Financial information taken from Federal tax returns.  Contributions include foundation and corporate support.
Nonprofit Kiwanis Foundation of Charlotte County Inc
Address PO BOX 510273
PUNTA GORDA , FL 0273
Phone 941 661-4535

THE COMMUNITY FOUNDATION OF SARASOTA COUNTY, INC. IS A REGISTERED 501(C)(3) NON-PROFIT CORPORATION. A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE WITHIN THE STATE (1-800-HELP-FLA) OR FROM THE WEBSITE: WWW.FRESHFROMFLORIDA.COM. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. ONE HUNDRED PERCENT (100%) OF EACH CONTRIBUTION IS RECEIVED BY THE COMMUNITY FOUNDATION OF SARASOTA COUNTY. REGISTRATION #SC-02471.