Le Club Calumet Educational & Literary Foundation

The Le Club Calumet Educational & Literary Foundation is a nonprofit organization dedicated to promoting education and cultural development, particularly within the Franco-American community in Augusta, Maine. Established in 1967 as a part of Le Club Calumet, the foundation aims to foster intellectual, social, and moral growth among its members and support deserving causes.

History and Mission

Le Club Calumet was founded by Franco-American residents of Augusta with the goal of strengthening fraternal bonds and promoting cultural heritage through education, literature, and music. The educational foundation expanded on this mission by focusing on educational advancement, providing support for students pursuing higher education.

Operations

The foundation operates as a private foundation, providing grants and scholarships to recipients. As of the most recent IRS filings, it has been actively awarding a significant number of grants annually. In 2023, for example, the foundation distributed $145,050 in grants across 55 awards[4]. The foundation's financial operations are supported by contributions and investments, with charitable disbursements constituting a major portion of its expenses[2].

Financial Overview

The Le Club Calumet Educational & Literary Foundation holds substantial assets, totaling approximately $3.5 million as of recent financial reports, with minimal liabilities[2]. Contributions and dividends are key sources of revenue, with dividends accounting for nearly 40% of total revenue[2].

Impact and Activities

The foundation's activities primarily revolve around providing educational opportunities through scholarships and grants. It has been instrumental in encouraging young adults to pursue their educational goals, reflecting its commitment to the educational development of the local community[5].

Governance

The foundation is governed by a board of officers and trustees, who work voluntarily without compensation. This includes positions such as president, secretary, treasurer, and various vice-presidents and trustees, all dedicated to advancing the foundation's mission[2].