Fundraising is in full swing for LABF
LE MARS — There is no end in sight for fundraising efforts by the Le Mars Area Betterment Foundation (LABF).
Though the foundation met its initial fundraising goal of matching the $2.5 million Wells Enterprises, Inc. donation for the CBP2 projects in early April, LABF Board President Mike Donlin expects the fundraising to keep chugging along.
“In our published material, we show that the 10 projects could amount to as much as $8 million, so there’s another $3 million that could be called a goal,” Donlin said. “The financial target is just a tool and just an estimate. The execution of the project is almost as important as the target you set.”
At the Tuesday, Aug. 1 Le Mars City Council meeting, Donlin reported the total amount raised for CBP2, including the Wells donation, was $5.122 million.
“The most significant gifts after that (the Wells donation) have been made by local financial institutions,” Donlin said. “Their contributions were at least five, if not six figures over time. Capital campaigns as I have come to know them have a quiet phase while you’re speaking with folks you think might be able to give meaningful gifts to get the ball rolling.”
“Then you have a public phase where you’re knocking on doors and sending out mailings, making a much more visible effort,” he continued.
Donlin explained the quiet phase for the LABF began in early 2016, with it becoming more open to the public in the spring. The foundation matched the Wells donation in early April.
The majority of the funds raised by the LABF will go towards the 10 CBP2 projects, and Donlin said donations help everybody.
“I think there is a segment of the community that is really pleased to see these kinds of efforts to have those people willing to chip in, so that the pressure is taken off the average taxpayer,” Donlin said.
Even after CBP2 projects are completed, Donlin wants the LABF to remain active.
“We need to remain visible in the eye of people who are making estate plans and other kinds of financial support for the community so they know this (LABF) is an option for them to either leave a legacy or help things happen. That’s an important goal for all foundations,” Donlin said. “We’ll be trying to be as public as we can with projects.”
One successful endeavor outside the CBP2 projects, was the foundation receiving a $100,000 grant from The Gilchrist Foundation of Sioux City, for the Postal Playhouse’s North Addition project.
“Everything up to Gilchrist has been for CBP2, 99.9 percent is dedicated or obligated to reimbursing the city for CBP2 expenses,” Donlin said. “We welcome applications from other foundations in the community, churches, or private groups. We’ll weigh the community betterment factor and then we’ll see what we can do with funds available.”