The now-shuttered Casper Petroleum Club plans to donate $1 million to the Casper College Foundation later this week, a former board member said Monday.
The money is the proceeds from the February sale of the club, said Gail Zimmerman, a local businessman and philanthropist who was on the club’s board in its final years.
“So the bylaws of the Petroleum Club that started in 1945 said that if they ever closed their doors, that all the assets went to the Casper College Foundation,” Zimmerman told the Star-Tribune on Monday.
The donation comes with no restrictions on its use, he said.
The sum represents the “major part” of the proceeds from the sale, Zimmerman said.
The club, once a popular spot among the city’s industry elite, closed in early October 2016 after a decline in business and membership fees. The building was purchased by the Gruner brothers, who plan to open a microbrewery in the space.
There’s some amount of money left over from the sale being kept temporarily to pay off any remaining bills owed by the club. The remaining amount will be delivered to the foundation in March.
Zimmerman said the plan is to deliver a check to foundation and college officials at 4 p.m. Thursday at the American National Bank.
Paulann Doane, the executive director of the foundation, said that while she was sad to see the petroleum club close, the group was “delighted” by the donation and would put it to good use.
She said the foundation didn’t have a specific project in mind and that the organization’s board would likely discuss it at its next meeting in January.