One week ago, the city of San Francisco transformed itself into Gotham to honor the wish of 5-year old leukemia survivor Miles Scott while the world watched enraptured on social media. Now Miles' family aims to keep the spirit of Batkid alive by launching a charity fund in the tiny superhero's name.

"It seems only fitting that following a day when the world demonstrated caring and compassion for Batkid, Batkid can now help others," said Miles' parents, Nick and Natalie Scott. "We were honored to receive many offers of gifts or assistance, but now that Miles' leukemia is in remission, we want to use this moment to draw attention to other parents who are coping with serious illness."

The Batkid Fund will operate under the auspices of the San Francisco Forty Niners' Foundation. Proceeds will benefit three charities chosen by the Scotts: a local medical center, the Ronald McDonald House, and the Make-a-Wish Foundation, which put Miles' spectacular day together in the first place.

"Last Friday, kindness and compassion won the day," says Patricia Wilson, Executive Director of Make-a-Wish's Bay Area chapter. "Now it has an opportunity to live on thanks to this special little boy and his generous parents."

San Francisco revealed Thursday that it spent $105,000 on the Batkid event, causing controversy in some corners of the city. The money came from a fund paid into by events held at the Moscone Center, such as Apple's annual developer's conference. Some residents wondered if the money could have been better spent elsewhere.

Still, given how widespread the event was broadcast — in 117 countries — and how good it made the city look, that's some pretty cheap advertising.