April 27, 2006

IMMEDIATE RELEASE

SOUTH PASADENA KIWANIS & PASADENA COMMUNITY FOUNDATION PARTNER FOR THE SUPPORT OF LOCAL YOUTH

Giving back to the South Pasadena community is one of the principal goals of the local South Pasadena Kiwanis Club that has just established a $70,000 Endowment Fund with the 53 year-old Pasadena Community Foundation (PCF). The endowment will help assure youth scholarships and awards for local students long into the future. The South Pasadena Kiwanis endowment is one of many component charitable funds managed by PCF which are pooled for investment purposes to achieve enhanced financial returns.

Every spring, Kiwanis provides at least three $1,000 scholarships to local graduating high school students. They also proudly give away three bicycles with helmets to deserving middle school students. Scholarship checks are then distributed at a special Award’s Night at South Pasadena High School. South Pasadena Kiwanis acknowledges the generous donations from the S. Paul Ward Family and the Walter Maus Family who provided financial support for the Endowment Fund.

According to Veronica Dolleschel, current president of the South Pasadena Kiwanis Club, they chose to partner with the Pasadena Community Foundation in establishing their fund because PCF will protect their endowment in perpetuity, track grant disbursements and provide oversight for the professionally managed assets to serve the Club’s long-term goals. This partnership allows Kiwanis members to stay involved with interviewing and selecting award recipients and presenting scholarship checks to deserving students.

Kiwanis and the Pasadena Community Foundation share a similar interest in improving the lives of people right here in our own community. Today, PCF has a total of almost $24 million in assets and represents a collection of more than 240 charitable funds established by caring families and organizations that want to give something back. The Foundation is administered by Executive Director, Jennifer DeVoll, and is governed by a Board of 11 community leaders including South Pasadena resident, Wendy Munger, who welcomes the South Pasadena Kiwanis endowment and the wonderful support it provides to the youth and community of South Pasadena

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