The Colorado Lions Foundation was originally established as a non-profit corporation filed with the Colorado Secretary of State's office on November 27, 1957. The original creation of the Colorado Lions Foundation (CLF) was the foresight and initiative of Lion Frank S. Rose of Grand Junction, Colorado and Lion George S. Winters from Canon City, Colorado, along with other active Colorado Lions of likeminded interests. Articles of Incorporation and Bylaws were developed and have been amended/restated in 1982, 1985, 1986, 1992, and in 2007. The CLF Board of Trustees consists of one elected representative from each district of Colorado Lions Multiple District 6. In addition, one Trustee is voted from the general assembly as "Member at Large". Refer to the current Articles of Incorporation and Bylaws for the CLF objectives and trustee responsibilities.
There have been several dedicated Colorado Lions throughout the years, and several other dedicated Lions in the future, that have volunteered their time and efforts to implement the mission objectives of the foundation. The Colorado Lions general assembly members from the past, the present, and the future wish to express their deepest gratitude to all persons who have/wilt voluntarily offer herself or himself for the service and undertaking of the Colorado Lions Foundation.
The non-profit 501(c)(3) status of the CLF has created the means for allowing individuals to make a tax deductible contribution of assets for use by the foundation. In addition, funds are collected by the foundation from special promotions (i.e. Humanitarian Awards, Ann Sullivan Awards, Pin Sales, Parade of Check's, et al) and from estate plan designations. Other assets are managed and included in the asset base of the foundation which includes the Colorado Lions Camp real estate and various accounts with specific designations and objectives. A portion of these assets have been designated for the long term endowment of the foundation.
In early 1996, the CLF Endowment Fund consisted of bank Certificate of Deposits (CD) and bond financial instruments totaling approximately $186,000. These assets generated income of approximately $5000/year which was used by the foundation board to accomplish their mission statement. Later in 1995, CLF Trustee and Lion PDG Duane Blessman from Yuma, Colorado requested the assistance from his Edward Jones Investment Financial Advisor to evaluate and guide the CLF Board of Trustees in the financial matters of the CLF Endowment Fund. CLF Trustee and Lion PID Ken Schwols from Loveland, Colorado also saw the need for asset management assistance. Board meetings were held, education sessions conducted, and various presentations from multiple institutions were solicited. In early 1997, the CLF Board of Trustees unanimously voted to retain the services of the Financial Advisor (FA) from Edward Jones Investments (EDJ).
In February of 1997, the initial Edward Jones Investment CLF Endowment Fund Account was established and the existing assets were consolidated from various financial institutions. The EDJ FA met with the CLF Board of Trustees on several occasions to educate members on investing, establish the financial goals, and define the risk profile for the CLF Endowment Fund. During this process, the FA explained the various risks that must be considered when investing such as inflation, interest rates, diversification, and liquidity to name a few. In addition, the FA introduced the concept of Red/GREEN asset designations.
The assets designated as Red are those endowment principle assets that cannot be used, distributed, or accessed without extenuating circumstances enacted from a unanimous vote of the Board of Trustees to change designation. These assets create a financial principle base value that is anticipated to consistently increase thru price appreciation, long term capital gains, and additional endowment contributions to assure the financial solvency of the CLF mission objectives long into the future. In addition, the affects of inflationary risk to the overall portfolio will be addressed. The funds created from interest, dividends, and short term capital gains of the Red" endowment principle assets have been designated as "GREEN funds. These "GREEN funds are then used by the foundation trustees for the CLF financial mission objectives. Distributions of the "GREEN funds are requested on an as needed basis by the Board of Trustees, but usually are obtained twice a year. Any unused "GREEN funds are carried over into the next year for use by the board members. In years past, the Board of Trustees has unanimously re-designated "GREEN funds to become Red" endowment principle assets due to no financial obligations or needs. This action has taken place twice since February 1997.
As stated earlier, in 1996, the Red" CLF Endowment Fund of approximately $185,000 generated "GREEN" funds for annual financial mission objectives of approximately $5000/year. As of December 31, 2014, the Red" CLF Endowment Fund of approximately $1,105,000 generated "GREEN funds for annual financial mission objectives of approximately $35,000/year. Total cumulative "GREEN funds distributed between January 1997 and December 2014 has been $293,554. In true Lionism tradition, to commemorate the milestone of the $1,000,000 Red" endowment principle asset base value being eclipsed, the CLF Board of Trustees voted unanimously to produce a limited addition lapel pin. These uniquely designed lapel pins will be sold for $5.00 each and the proceeds will be designated as Red" endowment principle assets. The board members and advisors, both past and present, and the support, advise, and services of the Edward Jones Investments Financial Advisor and his staff are to be commended and recognized for this stellar achievement. Congratulations!
To promote and encourage the gifting of assets to the CLF thru estate planning, a licensed Colorado estate planning attorney has develop generic Trust Agreement amendment forms and Will codicil forms. These forms will allow individuals to modify their estate plans to designate gifts to the CLF and incur no attorney fees for the modifications. A copy of the forms may be obtained upon request to any of the active CLF Board of Trustees.
Over the years, several additional accounts have bpen established and assets accumulated for various Colorado Lions Club general assembly objectives. Any of these accounts can and will be contributed to via the 501(c)(3) designation. The CLF Board of Trustees is responsible for the management, investment, and distribution of the assets in accordance with the stated financial objective. These assets are separate from the aforementioned CLF Endowment Fund.
For the purpose to allow for a smooth transition of board members in future years and financial transparency to the Colorado Lions Club general assembly, a brief history, description, and objective have been developed for each of the CLF accounts and the corresponding assets. This Historical Narrative and the asset definitions/objectives are supplements to the Articles of Incorporation and Bylaws and will be updated/revised as needed.