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report to the community - Community Foundation for the Ohio Valley

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focus on funds<br />

The Wheeling Au<strong>to</strong>mobile Club Fund<br />

Funds accumulated in <strong>community</strong> now<br />

benefit <strong>community</strong><br />

Established in 1905, <strong>the</strong> Wheeling Au<strong>to</strong>mobile Club<br />

was <strong>for</strong>med as an affiliate of <strong>the</strong> American Au<strong>to</strong>mobile<br />

Association and provided services <strong>to</strong> its members in <strong>the</strong><br />

Nor<strong>the</strong>rn Panhandle. A true membership organization,<br />

<strong>the</strong> Club was overseen by a local Board of Direc<strong>to</strong>rs<br />

and <strong>to</strong>ok its place among <strong>the</strong> valued and engaged<br />

local business <strong>community</strong>. The Club grew and flourished<br />

over <strong>the</strong> next 100 years and is now a part of AAA East<br />

Central with over 2.2 million members.<br />

Through careful fiscal stewardship, <strong>the</strong> Wheeling<br />

Au<strong>to</strong>mobile Club had accumulated substantial assets<br />

via its travel and insurance operations. The Board<br />

felt strongly that assets accumulated locally should be<br />

used locally <strong>for</strong> <strong>the</strong> betterment of our residents and<br />

communities. In 2003, <strong>the</strong> Board of <strong>the</strong> Wheeling<br />

Au<strong>to</strong>mobile Club <strong>to</strong>ok <strong>the</strong> first steps <strong>to</strong> ensure that those<br />

assets would remain in our <strong>community</strong>, benefiting local<br />

residents in perpetuity, by establishing a donor-advised<br />

fund at <strong>the</strong> <strong>Community</strong> <strong>Foundation</strong> <strong>for</strong> <strong>the</strong> <strong>Ohio</strong> <strong>Valley</strong>.<br />

Donor-advised funds are unique charitable giving<br />

vehicles that gained national prominence in <strong>the</strong><br />

1990s. While <strong>the</strong> assets become an irrevocable<br />

gift <strong>to</strong> <strong>the</strong> <strong>Foundation</strong>, donor-advised funds allow<br />

donor-advisors <strong>to</strong> remain involved in <strong>the</strong> grant making<br />

process in<strong>to</strong> <strong>the</strong> future.<br />

sharing<br />

The Wheeling Au<strong>to</strong>mobile Club fund donor advisors are<br />

all local residents and <strong>for</strong>mer board members who are<br />

committed <strong>to</strong> our <strong>community</strong> and <strong>the</strong> quality of life of its<br />

residents. It is this group of individuals who recommend<br />

charitable grants from <strong>the</strong> Wheeling Au<strong>to</strong>mobile Club<br />

Fund at <strong>the</strong> <strong>Community</strong> <strong>Foundation</strong>. Recommendations<br />

are considered and approved by <strong>the</strong> <strong>Community</strong><br />

<strong>Foundation</strong> Board of Trustees, who also authorize <strong>the</strong><br />

actual distribution of funds.<br />

The Wheeling Au<strong>to</strong>mobile Club Fund was officially<br />

established at <strong>the</strong> <strong>Community</strong> <strong>Foundation</strong> on December<br />

30, 2003, and became fully functional in <strong>the</strong> spring of<br />

2006. The Fund was created with <strong>the</strong> transfer of nearly<br />

$1 million in assets and represents a tremendous gift <strong>to</strong><br />

<strong>the</strong> <strong>community</strong>. Careful and prudent fiscal management<br />

will ensure that <strong>the</strong> fund is able <strong>to</strong> distribute thousands<br />

of dollars annually <strong>to</strong> benefit local non-profit and<br />

educational institutions.<br />

<strong>Ohio</strong> & Marshall counties<br />

are <strong>the</strong> primary grantmaking<br />

area of <strong>the</strong> Wheeling<br />

Au<strong>to</strong>mobile Club Fund.

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