by Paul Regan, Foundation Trustee and member of Christ Episcopal Church in Manlius
The Foundation of the Diocese of Central New York promotes religious, educational and charitable work within the Diocese by providing grants and making loans to parishes, organizations and other bodies organized within the Diocese. The Foundation was established in 1951 and is a New York Not-For Profit Corporation.
To carry out its purposes the Foundation solicits gifts and bequests which are invested either in the Unified Investment Fund or as interest-bearing loans within the Diocese. 80% of income earned from UIF investments or from loans is available for future grants, with 10% applied against expenses and the other 10% re-invested as principal in the Foundation’s investments to stimulate the growth of its assets.
This year $18,801 is available for grants and $531,659 is available for below-market-rate loans. Requests for grants exceed the funds available and the Foundation is looking at several strategies to increase its revenue stream upon which its ability to make grants is dependent.
Various people have contributed to the Foundation since its inception with the three largest contributions made in the names of Helen J. Howland, Elizabeth M. Haas and Virginia Klee. The Board is anxious to discuss how current members of the Diocese can help to sustain and grow the Foundation.
The Foundation is run by a Board of Trustees comprised of clergy and lay members of the Diocese with the guidance and assistance of diocesan staff members Debbie Nettle and Cathy Hobart. Several members of the Board have expertise in construction, maintenance and building restoration and consult with grant and loan applicants to make sure all of the various options available to address building related issues are considered before starting a project. They can also offer guidance with insurance claims and evaluating competing contractor bids.
While the majority of applications for grants or loans involve physical renovations to building, the Foundation is not limited to “brick and mortar” projects and welcomes request for funding assistance for program development and implementation. For further information please review the funding guidelines and application process and contact Debbie Nettle in the diocesan office.