Pictured, Angela Klopf, CFTT CEO, presents a check to Joe Picco, Waverly Rotary Club Foundation president.
The Waverly Rotary Club Foundation established an endowment fund through the Community Foundation for the Twin Tiers (CFTT) in June of 2012. The fund was set up to support the charitable work the Rotary Club does.
As the endowed fund is grown, through investments, it allows the Rotary to have more money to put back into the community each year. At last week’s Waverly Rotary meeting, Joe Picco, Rotary Club of Waverly Foundation president was presented with a $954.92 grant from the fund. They look forward to the continued growth of this fund and are pleased to have a vehicle such as the CFTT to allow them to focus on what services they can provide to the community.
The CFTT establishes endowment funds for charitable purposes from contributions of citizens, corporations, other foundations, charitable organizations and government agencies.
Endowment funds are grown through investments. A percentage of earnings from the funds are used to make grants to organizations or projects. The remaining earnings and fund balance is continuously growing to give back forever. This creates long-term sustainability for the organization or mission or the fund.
The Community Foundation for the Twin Tiers (CFTT) is a non-profit public foundation established in 2002 by a diverse group of local leaders and residents. The Foundation encourages community philanthropy to enhance the quality of life for those who reside in Bradford, Potter, Sullivan and Tioga Counties in Pennsylvania and Tioga County in New York State.
If you have an interest in learning more about the CFTT or in establishing a fund, you can contact the organization by calling (570) 888-4759, by email to cftt@stny.rr.com, or visit www.twintierscf.org.
