By the end of 1960, the redemption of sales tax stamps was phased out, which eliminated that particular income. Not to be thwarted in their dedication and desire to promote the scholarship program, the committee set about to find an alternate source of income. After months of discussion and investigation, the members decided to establish an Eleemosynary Foundation. It was felt that this would encourage tax deductible contributions. The Board of Directors of the Club, Kiwanis International and the Internal Revenue Service approved, so the Kiwanis Club of Lakewood, Ohio Scholarship Foundation, Inc. was born on September 20, 1961, since renamed the Lakewood Kiwanis Foundation. The committee members became trustees and were elected by the membership. The membership in this foundation is limited to and shall consist of all new members in good standing of the Kiwanis Club of Lakewood, Ohio, Inc. The new trustees thanked Paul Acker for the many hours he had given so freely and recognized that his efforts and talent had been appreciated.