The Colorado 500 Online

The Colorado 500 Charity Fund

Previous Colorado 500 Scholarship
Recipients with Wally and Peppy.

In 1981 the Colorado 500 Charity Fund was established as a way for the event to return something to the small mountain towns and communities traveled to and passed through each year. After four years of enjoying the splendor and beauty of the Colorado Rockies the riders of the event created the fund as a way to say thanks and to show their appreciation. Most of the funds are dispersed to schools.

Donations have also been made to churches, teen services, medical centers, emergency rescue services and scouting. As the fund grows so does the diversity of the donations. Over 93 different organizations have been the beneficiaries. Over the years, the Colorado 500 has disbursed over $1,000,000 in donations, including Scholarship Awards, Legal Defense Fund Disbursements, grants and trail work. Most of the donations are scheduled to be made during each 6 day event. Many are handed out at registration or hand delivered by the riders to organizations throughout the towns the ride passes through. Colorado 500 has Don Riggle, Ben Cheatwood, Jon Potter and Tom Sheehy to thank for their devoted volunteered time spent helping with fund raising and spirited MC work. Every time the Dirt Bike Ride is scheduled in September, the ride kicks off with all 300 plus riders circling around the track at Basalt Grade and Middle School to make the charity presentations and donations. This is a very memorable experience for the students over all these years.

Sadly in 1983 Art Lamey, a veteran rider, passed away during the first day of the event. The riders of the Colorado 500 had lost a close friend and companion. The riders in his memory created a scholarship fund. The Art Lamey Scholarship Foundation grew faster than the rider’s wildest dreams and is now administered by the CART office. Along with the annual donation from the Colorado 500 Charity fund, donations are received from other individuals and corporations. To date the Art Lamey Foundation has given fourteen scholarships. The riders of the Colorado 500 are very proud of this living memorial to Art Lamey.

In 1993 the Colorado 500 started a second Scholarship Fund, and have to date awarded over a dozen Basalt High School students a full 4-year $10,000 scholarship. It is a difficult task, the process our Scholarship Committee goes through, poring over and over each individual application (over 30 of them). The field is narrowed down to 3 finalists. The students are not necessarily chosen for their academics, but for need and the fact that we feel they can "make a difference". Then the committee gathers to take the 3 finalists out to dinner to meet, interview and choose one. At that point, all that’s wished by the Committee is for all 3 to be awarded! The goal each year is to make that happen.

Determination to further the fund raising efforts each year brought in some special gifts. For one, a very generous donor is the main funder for this program (who wishes to remain anonymous) and one year extra funding came from Chip Ganassi, then combined with the Basalt Foundation produced another $10,000 scholarship that was split between the other two finalists! Last year the extra funds were matched by Kim Gerringer’s "Lynn Gerringer Memorial Scholarship Fund", and the second runner up received an award. Basalt Foundation annually matches the Colorado 500 contribution as well, to award a 3rd chosen student.

We are pleased to announce That Chip Ganassi and Eddie Wachs combined with the Basalt Foundation will produce another $10,000 scholarship that will be split between the other two finalists! Eddie and Chip are not only winners on the track but off as well.

Chip Ganassi (top) Eddie Wachs (bottom)

The Colorado 500 now receives support from individuals and corporations in the way of product and money sponsorship. Budweiser had became a major sponsor with a $7,500 donation to the Charity Fund, a $2,500 donation to the Art Lamey Foundation, a $1,000 cash "Young Lion" award and a very generous product supply.

Other corporate sponsors have included Toyota Motorsales, Inc., USA, Team Green Kawasaki, Chip Ganassi Racing, Coors, Miller, National Distributing, Prolong, Roush Industries, Bosch, Deutsche Financial, PPG Industries, Yamaha Motors USA, Dave Mungenast Honda, ATK, American Honda, KTM America, Penske, Valvoline, Champion Spark Plugs, NGK Spark Plugs, Spectro Oil, Malcolm Smith Products, Tucker Rocky Products, Thor/Parts Unlimited, SRE Industries, Peterson Publishing, VOR USA, to name a few. The list goes on and on.