June 10, 2008

Media Release for the Community Foundation for the Twin Tiers
Contact: Marilyn Bok, Board Chair, 570-888-4759
For Immediate Release

Community Foundation for the Twin Tiers Celebrates Fifth Anniversary

The Community Foundation for the Twin Tiers (CFTT) recently celebrated its fifth anniversary at its annual meeting at the Towanda Country Club. Marilyn Bok, Board Chair said, “When the CFTT began in November 2002 it could only dream about this day.” The CFTT Board of Director’s chosen theme for the meeting and its annual report was “Looking Forward – Giving Back.”

Some of the 2007 milestones for the Foundation are: a tripling of assets under management (CFTT had the highest percent of growth of all community foundation’s in PA), a 207% increase in our fund balance, fourteen funds under management, a 16.5% rate of return after investment fees, start of six new funds, awarding of grants from six funds, and assets totaling over $250,000.

One of the highlights of the meeting was a presentation by Dorothy Weir, elementary music teacher at Northeast Bradford Elementary School. She was a 2007 grant recipient. She spoke about how she used her $500 grant from the Bradford County Unrestricted Fund to purchase musical instruments for students Kindergarten through sixth grade. She spoke about what the children had learned musically and showed video footage of the children playing the xylophone and the metalophone. She stated, “The kids are always so excited when I get out these instruments. They keep telling me it’s their turn!”

As a way of celebrating its 5th anniversary the CFTT featured Bill Somerville, a nationally recognized expert on creative grantmaking who has consulted with over 325 community foundations in the United States., Canada and the U.K. He spoke on what makes a successful foundation that makes effective grants. He stated, “Your community foundation can make dreams come true. You can leave a legacy.”

Mr. Somerville publishes two periodicals: Building Community Foundations, distributed to all community foundations worldwide, and Dialogue, to non-profit organizations on fund development and is president and founder of Philanthropic Ve0ntures Foundation. He has 47 years of experience in non-profit work.

William Ransom, Chair of the Capital Campaign to Ensure the Foundation’s Growth, reported on the progress of the campaign to date. The goal of the campaign is to raise $300,000 over a three year period to support the growth of philanthropy in the region.

Bok introduced the newest members of the Visionary Society: George & Linda Houser, Duane & Janet Lewis, David G. Stephens, OSRAM/SYLVANIA, and the Community Foundation for Pennsylvania. Membership in the society is restricted to those who have given $5,000 or more to the CFTT. There are now nineteen members of the society.

There was a surprise announce made by Mary Finlayson, an attorney from Waverly, NY who stated the CFTT would be the receive over $300,000 from the estate of the late Katherine Kerrigan, who was born in Waverly, a town she loved. She passed away four years ago at the ago of 101. The estate will provide for scholarships for Waverly High School and to provide care for the elderly in Tioga County, NY. Bok remarked, “In one announcement , we doubled our asset base.”

The members of the four County Advisory Board were introduced and thanked for their work. They assist the foundation’s Board in grant selection, public relations and fundraising. Representing Bradford County- Mike Lovegreen, Jim Parks, Bill Ransom, Susan Storch, Howard Smith, Jody Place, JoAnne Kizer Conklin, Bob Veleker and Kathy Smith; representing Sullivan County-Norton A. Borges Jr., Frank Comfort, Dora McCarty, Bob Raff, Newt Pendleton, Tom Shannon and Anastasia McMahon-Farrell; representing Tioga County, PA-Fred LaVancher, Leo Parchesky, Eugene Seelye, Susan Sweet, Cheryl Edgcomb, Tom Freeman, and Lowell Coolidge; and representing Tioga County, NY-Marty Borko, Dot Richter, Linda Jayne, Sue Brumbaugh, Elaine Jardine, Jan Nolis, and Richard Friend.

The Finance/Investment Committee charged with overseeing the investment of the endowment funds and general financial matters of the foundation consists of Larry Alderson, B. John Gee, Joe Landy, Leo Parchesky, Joseph Picco, and chair Bill Ransom. Ransom gave a summary of the work of the committee and its success in earning 9.1% on our investments in 2007.

The Community Foundation for the Twin Tiers (CFTT) is a non-profit public charity established to encourage community philanthropy in order to enhance the quality of life for those who reside in Bradford, Sullivan and Tioga Counties in Pennsylvania and Tioga County in New York State. The mission of the CFTT is to continuously improve the present and future quality of life in the counties served by the Foundation. The CFTT establishes endowment funds for charitable purposes from contributions of companies, individual citizens, other foundations, other charitable organizations and government agencies. As the endowment funds grow, the interest earned on these funds is returned to the community in the form of grants.

To learn more about the CFTT or in establishing a fund, you can contact the organization by any of these methods: telephone - 570-888-4759; fax - 570-888-2179; email - cftt@stny.rr.com.

CFTT is dedicated to making a difference locally "for good - for ever^TM"