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. There's some amount of money left over 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 officials at 4 p.m. Thursday at the American National Bank. He said he was still waiting to hear confirmation from the organization.