News
and Upcoming Events
Community Foundation launches P.A.W.
to help our furry, feathered and finned friends
Josephine
Sacco of Groton loved her dog Snooky. Before she passed away
in May, 2006, she decided to ensure that other animals in
her area would be cared for, too.
So she left a bequest totaling more than $300,000 to the Community
Foundation of Southeastern Connecticut that will support organizations
that provide care and comfort for animals in the town of Groton
forever. The story was featured on page 1 of The Day, October
8th.
The widow of the late Gabriel Sacco, Josephine was a long
time resident of Groton. With the help of her attorney, Suzanne
Kitchings of Kitchings & Potter, LLC, and Thomas Beirne
III, CFP®, Vice President, People's United Bank Wealth
Management & Trust, she created a trust which, upon her
death, established the Josephine and Gabriel Sacco Fund for
Animals at the Community Foundation.
The
Community Foundation has decided to build on Mrs. Sacco's
generosity by launching People for Animals & Wildlife
(P.A.W.), and encourages endowments and contributions from
other animal lovers in the area.
"P.A.W.
will be concerned with the well-being, humane treatment and
protection of animals in southeastern Connecticut," points
out CFSECT President Alice Fitzpatrick. "It will make
grants for animal rescue and sheltering, low cost spaying/neutering
and other veterinary care, educational programs and habitat
preservation for threatened species, and other areas designated
by endowments like Mrs. Sacco's. We have some exciting plans!"
To learn more about contributing to P.A.W., contact Alison
Woods at 860.442.3572 or alison@cfsect.org
Governance
Seminar offered by Community Foundation and Chamber of Commerce
Eastern Connecticut.
Governance
expert Chuck Loring will provide a day-long seminar for area
nonprofits. Your team of the CEO and at least three board
members will have an opportunity to examine board governance
in a retreat format.
Click
here for more information
Cannon
Estate Planning Teleconference Series
offered
at Community Foundation
The Community Foundation
and the Estate & Tax Planning Council of Eastern Connecticut
are hosting a teleconference series on estate planning.
Click here for schedule.
County
Historical Society Invests With
Community
Foundation |
| |
| By M. Matthew Clark , |
|
Published
on 7/29/2007 in The Day Region News |
New
London - The New London County Historical
Society has transferred nearly half of its endowment
to the Community Foundation of Southeastern Connecticut
in an effort to increase its financial resources through
the foundation's endowment pool.
The historical
society's total endowment is approximately $500,000,
depending on the market.
Patricia Schaefer,
the historical society's president, said the society's
board unanimously approved the decision at a meeting
in the spring, and that the move has been in the works
for some time.
The community
foundation retains a professional financial agent, Russell
Investments, based in Tacoma, Wash., to handle asset
management. The foundation invests in a well-diversified
portfolio that includes small-, mid- and large-cap domestic
and international equities, among other funds. The investments
are overseen by the foundation's Board of Trustees,
an investment committee, and an independent audit committee.
Merrill Lynch manages the other half of the historical
society's endowment.
“It seems a
good idea to me,” Schaefer said. “We certainly like
supporting the Community Foundation; the more money
they pool there is good for everybody.”
The foundation,
which was formed in 1982, is a nonprofit group that
pools investments of other philanthropic organizations
with the goal of reaching a higher return for the individual
groups through joint investment. Schaefer said the foundation
approached the society along with other area nonprofits
groups in the fall to form the partnership.
“They seem
to have a pretty high rate of return,” Schaefer said.
The benefits
of the partnership are twofold, she said. Beyond having
the financial might of the foundation's pooled resources,
the foundation also offers training and seminars on
fund-raising techniques. The two groups will concentrate
on bolstering the historical society's permanent endowment
through outright gifts, deferred gifts and bequests
from donors.
For example,
if people want to donate to the historical society in
their will, the community foundation provides an automatic
contribution to the society's endowment as an incentive.
“The board
thought it would be a good way to advance the long-term
needs of the society,” said Edward Baker, executive
director of the historical society. Baker said the goal
of joining the community foundation is to maintain and
further the past success of the society, which has been
preserving historical newspapers, documents, manuscripts,
and other artifacts for 135 years. |
Waterford |
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