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Foundation has big plans for 50th anniversary

By
Wednesday, April 17, 2013

The Schenectady Foundation will invest $2 million in the Capital Region in celebration of its 50th anniversary, officials announced Wednesday.

The amount is a significant increase from the charitable trust’s past annual contributions, which over the past five years have averaged about $850,000, according to Robert Carreau, the foundation’s executive director.

Half of the $2 million “Golden Grants” investment will be dedicated to a single project aligned with the foundation’s strategy to strengthen families. The endeavor will be one that has the promise of being transformational for the target population, neighborhood or a broader community of stakeholders, Carreau said.

Donations can be made on the Schenectady Foundation website.

There is no set date for when the funds will be distributed, but Carreau said the goal was to make the financial commitment within the foundation’s anniversary year.

The second $1 million will be divided into smaller grants. Half of those funds will be dedicated to an Innovation Grants Fund, which will award five to 10 grants to organizations and collaborative partnerships to help improve their efficiency and effectiveness.

A story about the foundation will be in the Thursday issue of the Daily Gazette.

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