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Thursday, October 18, 2012

POTTER COUNTY NON-PROFITS TO BENEFIT

POTTER COUNTY NON-PROFITS TO BENEFIT

Six Potter County non-profits will receive $500 cash grants at the upcoming 10th Anniversary Celebration of the Community Foundation for the Twin Tiers.

The celebration dinner will be held on Saturday, Oct. 20, at the Coudersport Golf Club, with a 6 p.m. dinner followed by music, entertainment, and the presentation of the grant funds, which will be awarded as door prizes. Each attendee will have one ticket in the drawing, and the six individuals whose names are drawn will each have the opportunity to choose a Potter County non-profit as a grant recipient.

All county non-profits are encouraged to get as many of their board members and supporters as possible to attend the celebration in order to increase their chances of getting one of the $500 grants. Eligible organizations include the Boys and Girls Club, Teacher's Pet, A Way Out, EO Austin House, Christmas House, the Potter County Fair, Trout Unlimited, 4-H, the Potter County Historical Society, the Lumber Museum, Dark Skies, Lyman Run State Park, Penn York Camp, Habitat for Humanity, any of the county’s five libraries, or any other local 501c-3 organization.

The purpose of the Community Foundation for the Twin Tiers is to enable local non-profits to set up endowment funds to provide income for future needs. Most charitable gifts are spent immediately, but an endowment provides a revenue stream “For Good … For Ever.”

Currently, two endowment funds through CFTT exist in the county. The Ulysses Library has a $250,000 endowment fund, which generates $10,000 a year in income for the library. A Potter County Discretionary Fund has been established but does not yet have the minimum $12,500 base for an annual grant to be made. One purpose of the 10th Anniversary Celebration dinner is to acquaint people with the opportunity to add to this fund or to create specific new endowment funds to benefit local causes.

A fund to grant annual scholarships to Northern Potter graduates is ready to be established. A donor has offered up to $12,500 in matching funds if others in the community contribute to institute the fund.

A fund must have $25,000 to give back $1,000 a year. While few people are capable of a gift of that measure, an established fund can grow in increments of small gifts of any amount. The Community Foundation, a tax-exempt public charity, is a vehicle for either growing established funds little by little or for creating a lifetime legacy by developing a new fund through estate planning.

The golf club will cater a two-meat buffet for the Oct. 20 CFTT Tenth Anniversary Celebration, and the program will include music by the Cool Jazz Trio and Gail Ayers and the entertainment and inspiration of Potter County’s “Survivor Wanda.” Tickets are $20 and are available at Olgas in Coudersport or Olneys in Ulysses, by phone at 848-7542 or by email contact at brolney@hotmail.com.

1 comment :

Anonymous said...

Would just like to state that it is "Friends of Lyman Run" not Lyman Run State Park, that is the non-profit charity - a chapter of the PA Parks and Forests Foundation..