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What you need to know for 04/29/2017

GloFo foundation doles out $60,000 to host of community groups

GloFo foundation doles out $60,000 to host of community groups

The GlobalFoundries-Town of Malta Foundation has awarded a total of $60,000 to more than 20 communit

The GlobalFoundries-Town of Malta Foundation has awarded a total of $60,000 to more than 20 community organizations and projects.

The foundation announced its annual awards Tuesday. This is the first year that the $3 million foundation, funded by GlobalFoundries and managed by the computer chip company and the town, has been fully funded.

Managed by a board of town and GlobalFoundries appointees, the nonprofit foundation distributes its investment income each year in grants to community organizations and projects.

The largest grants this year were $5,000 each to the Malta Sunrise Rotary Club to support a regional robotics competition and to Rugrunners Robotics to help fund the competitive robotics club at Shenendehowa High School.

Awarded $3,500 were Junior Achievement of Northeastern New York for a program in the Ballston Spa elementary schools; the Malta Ridge Fire Company for automatic defibrillators; the Round Lake Auditorium for safety and restoration work; and the Malta Youth Commission for Family Fund Night events in 2013.

The Malta Ambulance Corps, Saratoga Bridges, Rebuilding Together Saratoga County, Round Lake/Malta Youth Baseball, Saratoga Arts Fest and the Regional Food Bank of Northeastern New York each were awarded $3,000 grants.

Other organizations received grants of between $1,000 and $2,500.

Last year, the first in which awards were made, the foundation distributed $37,500, but it was not yet fully funded. In the past year, GlobalFoundries contributed $2 million as it reached production startup milestones at Fab 8.

A second foundation for the town of Stillwater, the GlobalFoundries-Stillwater Foundation, has been formed with a $1 million endowment. There, the board of directors is still developing a strategy to evaluate and fund projects.

The company also contributed $1 million toward the cost of the town sports complex that has been built at the Luther Forest Technology Campus and is expected to open in the spring.

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