R.J. McElroy Trust: The Legacy of an Entrepreneur

The R.J. McElroy Trust is a private foundation, unlike any other organization in the area. I spoke with executive director, Megan, to get the scoop on this powerful entity. Most important to know is that they exist solely to execute the will of R.J. McElroy. 

McElroy didn’t have more than an 8th grade education. He had a very rough childhood and left home to raise money for his family. As an entrepreneurial minded person, he would walk up and down 4th Street in Waterloo to raise money to start a radio station. He eventually raised $40,000 from business owners in the area. In 1947, McElroy founded the Black Hawk Broadcasting Company and owned KWWL radio. He passed away unexpectedly in 1965, leaving behind a company that was sold to what we know as Aflac, earning $47 million. Half of that money became the R.J. McElroy Trust.

The Will Guidelines

In his will, he stated that he wanted the money to go be used “for the educational benefit of deserving young people”. This is a very broad statement, leaving room for the trust to adapt when opportunities arise. It is up to the Board of Trustees to decide where that money is given. Black Hawk County is just one of the counties they serve, as the trust was designed to benefit the KWWL viewing area.

The First Grant Given

Since they awarded their first grant in the early 1980s, they have given around $75 million to deserving young people. Once you see the name McElroy, you will see it everywhere. They have touched thousands of lives since their inception.

Brand Refresh

Marketing Differences

As a very well established foundation that primarily gives grants, their marketing is different from other organizations in the area. Their true marketing form is from organizations who want to receive a grant from them. A large part of Megan’s job is to help organizations marketing themself to the McElroy trustees. 

They do have a few of their own programs, such as the Gold Star Program. This program recognizes ten superstar teachers in Black Hawk County each year. “We market the program to encourage community members and students to nominate teachers,” Megan said. The Gold Star Program is run by a full-time intern, during the spring semester. Discover more about the program here: https://www.mcelroytrust.org/gold-star.

Growing Your Nonprofit

Megan recommended nonprofit founders think about this: “What is it that you’re solving or contributing the the community and to ask yourself, does it need to grow?” She also had a very interesting piece of advice that I really enjoyed, as a non-profit founder myself. Not every non-profit is going to become a nationwide organization, and that’s okay. Not every organization is meant to be that large. If you are growing good in your community and fulfilling the mission of your non-profit, in my mind, your organization is a success.

Check out R.J. McElroy Trust’s website.

Read about more amazing organizations here.