Farmer, soldier, and life-long Shelby resident, Paul Champion continues to help the Shelby community even after his death.
The Paul D. Champion Fund of The Shelby Foundation has been a major source of support for many local organizations, and it is, once again, making a major impact in our community. At the fund representative’s request, along with the Foundation Board’s approval, the fund will provide matching dollars to establish a perpetual endowment fund for the Shelby YMCA.
An endowment is a fund that holds its principal in perpetuity and only pays out a small portion, about 4 to 5 percent per year, that goes to operations and programs. Endowment investments have dual goals: to grow the principal and to generate income.
Carrie Kemerer, director of the Foundation, said, “This is a perfect example of resources in our community coming together to do more than either could on their own! The YMCA is a Shelby staple for families and it’s essential for it to have a strong financial outlook, while the Foundation has the investment power to provide financial security to this much needed organization.”
The YMCA Board is taking advantage of this generous opportunity and has set a goal to raise a minimum of $250,000, which will be matched dollar for dollar by the generosity of the Paul D. Champion Fund. Over the next 18 months, the YMCA will leverage the match to raise funds that will provide a constant stream of revenue now and into the foreseeable future.
YMCA Director Caitlin McKelvey shared, “To think our organization can have an endowment of half of a million dollars is unbelievable. It’s no secret the Shelby YMCA has faced challenges over the years, and we were stuck making decisions impacting the moment while not being able to think long-term. But after several solid years of increased memberships, a successful capital campaign, and several annual campaigns, the Y is now able to think about their future financial health. Two years ago, when I started, I had a goal of establishing an endowment and it’s exciting to see this come to fruition.”
Donations to the Shelby YMCA Endowment Fund can be sent to The Shelby Foundation. Contact YMCA Director Caitlin McKelvey 419-347-1312 or Foundation Director Carrie Kemerer at 419-342-3686 to discuss endowment in more detail.