By Dave Schwab
After some debate over the necessity for taking the action and who will be on the board, La Jolla Town Council trustees voted overwhelmingly June 9 to form a nonprofit foundation to administer its annual Christmas parade.
The 501(c)(3) will be called La Jolla Town Council Parade Foundation.
President Rick Wildman said there is good reason to form a new nonprofit.
“By having a Town Council Foundation Board, we can take over the entire Christmas parade ourselves so we can give tax-exempt status to individuals who donate,” he said.
“There’s nothing mysterious here,” said Wildman after the meeting. “This is just a better way to streamline things.”
“The procedure was cumbersome,” agreed Glen Rasmussen, president of the La Jolla Town Council Foundation, which has been the repository for parade donations. “It seems that the best way to handle the parade going forward is to have it have its own nonprofit entity.”
Trustee Steve Haskins, an attorney, cautioned that forming such an entity is complicated.
“It is not something you can expedite quickly — it’s no slam dunk,” he said.
Council colleague Ed Ward agreed.
“You’re creating a corporation here, forming a legal entity,” he noted. “Plus you need an executive board. Who will that be?”
“It’s safe to assume we will have strong representation from this board,” answered Rob Hildt, first vice president.
Trustee Ann Kerr Bache, who’s headed the Parade Committee the past few years, suggested the foundation name be changed to allow flexibility to raise money for causes other than the Christmas parade should the need arise.
“We may want a more generic name to have some other events under this,” she said.
“I’ve done plenty of these (nonprofits) before,” said Wildman. “we have no option right now because the La Jolla Town Council Foundation has already said they will not be handling the Christmas parade this year.”
In other matters, the council voted unanimously to promote office manager Valerie Strocco to executive director.
The council also agreed to host a group fundraising “Day at the Races” Sept. 2 at the Del Mar Racetrack.