Rainbows launches campaign to get out of bankruptcy while still serving children
03/11/2014 5:29 AM
08/06/2014 10:15 AM
WICHITA — Rainbows United has launched a new fundraising campaign aimed at helping the organization work its way out of Chapter 11 bankruptcy and continue to serve children with special needs.
"We have rebuilt our organization from the ground up," said Steve Cox, chairman of the Rainbows board, at a news conference this morning at Kids' Point, an early-childhood facility at K-96 and Oliver.
"Let me reiterate: We're still here and going strong."
Donors already have committed more than $1.1 million to the "New Day" campaign, said Hale Ritchie, campaign chairman. The goal is to raise at least $2 million.
Spirit AeroSystems contributed $200,000. Members of the boards of directors for Rainbows United and the Rainbows Charitable Foundation gave $300,000.
Other donors include Wichita TOP Children's Fund, the K.T. Wiedemann Foundation and the Lattner Family Foundation.
Funds will support Rainbows' programs for children with special needs and overall operations, including the agency's 100 percent repayment plan for creditors, Ritchie said.
"To maintain the level of services and quality, we know ... a greater reliance on charitable gifts is needed," Ritchie said.
Contributions to the campaign will be made to the Rainbows United Charitable Foundation Inc., a separate 509(a)(3) supporting organization that will then be distributed to Rainbows United for operating needs.
For more information or to make a donation, visit www.rucfoundation.org.