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Thursday, October 1, 2015

The Community Foundation for the Twin Tiers (CFTT) Announces 7 New Potter County Funds!

The Community Foundation for the Twin Tiers (CFTT) is pleased to announce the creation of seven brand-new, Potter County-based endowment funds. These new endowment funds were made possible through a gift of $222,000 from a single, anonymous donor- one of CFTT’s first gifts from gas royalties.

The new endowment funds created will serve the Potter County community by supporting the following area non-profit agencies: Eulalia Cemetery, Coudersport Volunteer Ambulance Association, Coudersport Volunteer Fire Department, Austin Volunteer Fire Department, Potter County Historical Society, Teachers Pet Rescue, and Hearts Response, Inc. (also known as Christmas House). Each of the funds for these nonprofit organizations received just over $30,000 from this generous gift.

By establishing endowment funds with CFTT for the aforementioned Potter County agencies, the anonymous donor’s gift will alleviate some of the fundraising pressures each of those area nonprofits face every year. Currently, a fund that has $25,000 in principal is able to award an annual grant of $1,000 from that fund’s interest, while the principal and remaining interest are allowed to grow in managed funds. This allows the fund to grow and be administered and do good things in the community farther into the future than any of us will ever see. Endowed funds give today and give forever, creating long term sustainability for the agencies that provide the most vital services in our community.

In addition to creating seven new endowment funds to serve Potter County, the same single, anonymous donor gave CFTT a gift of $20,000 to be divided up among the existing Potter County Funds administered by CFTT, which helped a number of those funds reach their minimum endowment thresholds to begin giving out grants.

In total, this single, anonymous donor’s gift amounts to $242,000 and will enable all of these Potter County nonprofit agencies and organizations to serve the community into perpetuity.

To find out more about the Community Foundation for the Twin Tiers and our mission “For Good…For Ever,” please visit


Anonymous said...

Just think of how much it would help our communities if all of those receiving gas lease payments donated a portion thereof to local charities. Many thanks to those who have done so.

Anonymous said...

Wow! How generous! We should probably refuse it because it's "tainted" gas money.....

A lot of people are making a lot of money off the oil and gas. It benefits EVERYONE.

Anonymous said...

Dirty, dirty gas money...

Anonymous said...

Well 8:19. it's their money to do with what they please. if the past holds true, the more money people make, the more they will donate.