Tuesday, February 9, 2010

Kroc Center just $2.6 million away from goal

After just nine months, the Salvation Army's Kroc Center has raised $17.4 million -- just $2.6 million shy of the $20 million needed to trigger the release of a $67.8 million gift from the estate of McDonald's heiress Joan Kroc.

Although completing the drive will depend upon more donors and a campaign to offer engraved bricks to the public in exchange for their support, organizers are already eyeing a groundbreaking as early as February.

"This is by far the largest fundraiser I've ever been involved with," said Pete Caye, a member of the fundraising committee's cabinet. "It was a lot of work, and it's still a lot of work. We have a lot of good things happening."

Organizers have screened six firms that might eventually be involved in building the complex that will occupy 17 acres in the Chafee Park area of Harrisburg.

"We're getting preliminary bids in this week, and hope to do a contract later," he said."

Augusta's 85,000-square-foot Kroc Center will include an aquatics center, classrooms, a 400-seat theater, a 270-seat banquet hall with a stage up front for a dinner theater, rehearsal areas and many other features.

One of the project's signature amenities, which is being used as a model for Kroc Centers in other cities, will be a "First Stop Center" in a separate building from the main complex, where as many as 20 organizations will help assess and steer families to programs that can help them.

The fundraising committee is chaired by banker/philanthropist Boone Knox, who has worked diligently on the project while battling cancer.

"I don't think the thing could have been pulled off if it weren't for Boone Knox," Mr. Caye said. "He assembled the team."

The group -- which launched its effort during one of the most severe economic recessions in history -- has been successful in getting pledges that include a $3 million gift from The Masters Tournament and varying amounts from other foundations and groups, including McDonald's Owner-Operators, said Derek Dugan, the Salvation Army's Kroc Center coordinator.

"It really was the worst possible time for them to take on something like this," he said. "The campaign team even got together and debated whether they could raise the money, and the conclusion was, they had to do it."

The biggest push right now, he said, is to move forward with a campaign to encourage people to buy engraved bricks, Mr. Dugan said. The bricks, costing $50 each, can be engraved any way the donor wishes.

"They will be placed on the terrace and park trails," he said.

Once the final $2.6 million has been pledged, Salvation Army officials will conduct an audit to verify all the gifts. "Once all that is done, the Kroc trustees and the Salvation Army Territorial Command can release all the funds," Mr. Dugan said.

Wyck Knox, a cousin of Boone Knox and a member of the fundraising committee cabinet, said the project holds broad appeal -- in part because of the financial structure that will guarantee its survival.

"One thing that Boone saw, and that we all see, is that if we are successful, we get a facility that represents an investment of $100 million and we only have to raise $20 million," he said. "Not all of that goes into bricks and mortar. The largest part goes into a permanent endowment that makes it even more compelling. Not only will we have a facility that serves a lot of people in need -- worship, swimming, gymnasium, recreation, assessing and fulfilling people's needs -- but in addition we'll have an endowment to make sure it will be here forever."

Reach Rob Pavey at 868-1222, ext. 119, or rob.pavey@augustachronicle.com.

AUGUSTA KROC CENTER

FINANCIAL DETAILS

- The Ray & Joan Kroc estate is providing $33.9 million for land acquisition and construction costs and $33.9 million for a permanent operating endowment, for a total gift of $67.8 million.

- To qualify for that gift, Augusta's project must raise $30 million locally, which includes a $10 million credit given by the foundation to the local Salvation Army for its existing programs and facilities.

- The amount needed to complete the campaign is $20 million, and with $17.4 million in pledges, the amount needed to meet the goal is $2.6 million.

MAJOR GIFTS (AS OF OCT. 16)

The Master's Tournament, $3 million

Knox Foundation: $1 million Community Foundation: $1 million Georgia Power Foundation $150,000 Atlanta Gas Light Foundation: $50,000 McDonald's Owner-Operators: $100,000 Waffle House Corporate Foundation: $100,000 Cherry, Bekaert & Holland: $50,000

COMMUNITY PRESENTATION: 10 a.m. to 7 p.m., Oct. 29, Julian Smith Casino

Varying amounts from: Wachovia, Dorothy Butolph Foundation, SunTrust, Husqvarna, Georgia Bank & Trust, Solvay Advanced Polymers, Queensboro Bank, Augusta First, SRP Federal Credit Union, Phoenix Printing, Jim Hudson Lexus, Savannah River Banking Co, First Bank and Zaxby's.

If you want to buy a brick:

Cost: $50 apiece. Bricks can be engraved as donor wishes.

To order: download form at www.krocaugusta.org

Community presentation: 10 a.m. to 7 p.m., Oct. 29, Julian Smith Casino

Comments

TososMelakias

The folks involved with this project are doing a great job. Maybe they could handle the TEE center once this one is rolling along.

humbleopinion

Yes, THEY could get it done. It would be the commissioners that would screw everything up with their racial bickering.

FallingLeaves

Just 2.6 million dollars. Just. LOL. God bless them and good luck with their cause, but "Just"? Not exactly small potatoes - 2.6 million dollars.

eachoneteachone

2.6 million is just about the figure that Richmond County has paid XMart to stay closed. Of course X mart will open because Richmond County does not have a legal leg to stand on. Throw out those wasteful commissioners and put some in with good sense.

Jake

This will be a great thing for the CSRA and 2.6 mil is very do-able.

triscuit

And the great thing about it is the endowment will allow the Salvation Army to run this without having any money, or more importantly, input and interference, from our city govenment and commissioners.

TruthJusticeFaithHope

One organization extracting $20 million dollars from a community in a short period of time is irresponsible. Other charities are hurting. Not one person has been helped by the 17.4 million dollars... ! A charitiy for homeless men and some a few families is a good idea. Yet, not at the expense of other charities. I also DO NOT believe that this endowment will come close to covering the future costs. The cost of builing the facilities to house the 15 agencies will be well over 100 million dollars... pool, performing arts... not much left for an endowment.

triscuit

TruthJusticeFaithHope....your construction figures are ridiculous. This is not the TEE center, these guys know what they are doing. Kroc Center has nothing to do with homeless people, those programs will stay at another location. Educate yourself on the project.

Native007

TruthJustice.. Your figures are off and so is your logic. Educate yourself on the project and see if you feel the same. The only thing irresponsible is your idiotic comment.

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