LETTER from HARRY LEVINE
Foundation stresses
needs of community
The Community Foundation of Otsego County is up and running and wants you to join us as one of our Founders.
We are OF the community, FOR the community, and want to do everything in our power to improve the quality of life for all residents of Otsego County. We also want to live by our values which include taking direction from the community we serve.
The concept of forming a philanthropic organization to serve one’s community is not new. There are over 750 community foundations across the nation. Successful foundations exist in New York counties to our north, east, south and west. The essential difference between a community foundation and a more common private foundation is that we are a public enterprise. Our funding is from our public and our responsibility is to our public – our friends and neighbors.
Many of the successful community foundations in our region of New York have taken decades to grow to the level where they are able to make a difference. Small but sure steps. One dollar at a time, invested so that spending was limited to earnings at the rate of 4 or 5% per year. The early emphasis was on asset building.
This is an important strategy and one that we are working on too. But we want to make a difference NOW. How can we do that?
Our approach is to raise seed capital that we are willing to invest in our community instead of in the stock market. Thus, our Founders Campaign is to secure $2 million. These funds will be used over the next five years, while our other strategy (accumulating investment assets) is pursued to secure our future sustainability.
Ours is a modern model. It borrows from the world of venture capital and private equity. It is founded on the bedrock confidence that our community will support our work. It is responsive to today’s needs.
The formation of Community Foundation of Otsego County is a vitally important step in the health of our county. It is an opportunity for neighbors and friends to join together to work smartly to address issues that need addressing.
We hope that many of you decide to join us as Founders. The amount of your support is up to you. We want broad participation. We have made it easy to join us. Send us a check. Make a five-year pledge (to match our five-year business plan). Donate appreciated stock or real estate. Use your credit card or Pay Pal.
Set up a monthly or annual payment program. Go to our website to get more information (cfotsego.org). Or simply mail us a check to P.O. Box 55, Springfield Center, NY 13468.
How are we doing so far, you ask? Well, our goal is $2 million. Today, we are 90% of the way to that target. Our entire board has joined as Founders as well as more than 100 others.
And are we making a difference now? Absolutely yes!
Our COVID Emergency Fund disbursed $200,000 in 27 awards. We have helped families put food on their tables, provided shelter to homeless individuals, supported over 100 small businesses and much more.
In 2021, we have allocated another $200,000 to meet challenges facing our community.
Please visit our website for details on our award programs.
Will you join us as a Founder? This is a once only opportunity to be part of a group of like-minded friends and neighbors dedicated to creating a force for good in our community.
We deeply believe that caring together makes us stronger together.
Please join us.