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The new Champaign Foundation has its own board of directors who will manage the new foundation. Staff at the Springfield Foundation will offer advice and manage most of the day-to-day operations, said Todd Michael, one of the new board members for the Champaign Foundation.
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“It’s an opportunity to put philanthropic people and the needs of the community together,” Michael said.
The groups are working together to boost awareness of the new entity, including passing out T-shirts during harness racing events at the Champaign County Fair.
Entities like the Springfield Foundation collect contributions from donors and invest and administer the funds. Together, the donors contribute to endowments to provide benefits throughout the community. The Champaign Fund recently started its effort to solicit initial donors, Michael said.
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The new foundation has already seen some interest from agencies like Urbana University, the Grimes Flying Lab Foundation and the Champaign Aviation Museum, Vander Roest said.
“We wanted to make sure this was started correctly and managed properly,” Michael said of the new foundation.
On the web:
The Champaign Foundation: www.champaignfoundation.org
The Springfield Foundation: www.springfieldfoundation.org