|Bicentennial Trust Fund Started for Chiropractic
Media Relations; Palmer Chiropractic University System
(DAVENPORT, Iowa) The Chiropractic Centennial Foundation (CCF) has sent a check in the amount of $59,860.70 to the Association of Chiropractic Colleges as the first deposit for the Bicentennial Trust Fund.
The idea for the trust fund was initiated after the 1995 centennial celebration of the chiropractic profession when the CCF discovered that it had leftover funds in its treasury. The funds will go toward chiropractic's bicentennial in 2095.
In May 2003 the CCF Board of Trustees voted to accept the trust agreement between the Association of Chiropractic Colleges (ACC) and the CCF. Both organizations had been waiting for the Chiropractic Colleges Education and Research Foundation (CCERF) to receive not-for-profit status. The ACC, repository of the trust fund, created the CCERF for various purposes, including the ability to act as the initial trustee of the fund.
The American Chiropractic Association, the International Chiropractors Association and the World Federation of Chiropractic are the three advisory organizations to the CCERF. Each of these organizations will select three of its members to serve on the foundation's advisory committee.
According to estimates, said CCF President W.T. Holmberg, D.C., the original corpus plus its accrued interest until 2095 could possibly grow to an amount of $3 to $4 million, depending on investment rates.
"It should give the bicentennial committee a good nest egg," Dr. Holmberg said. "They'll have something to work with for the celebration."
The already substantial amount donated to the trust fund has come from the CCF ($40,000), the National Chiropractic Mutual Insurance Company ($10,000) and a personal donation from Dr. Holmberg. An addition $9,360.70 came from accrued interest thus far.
According to Dr. Holmberg, the CCF believes the trust fund "insures that the bicentennial of chiropractic will be a profession-wide event, just as the centennial was in 1995."
Donations of $500 or more may be made to the CCERF and sent to the Association of Chiropractic Colleges at 4424 Montgomery Ave., Bethesda, Md., 20815. Checks should be earmarked "Bicentennial Trust."