Yates community fund receives $100,000 grant
The Ohio-based Nord Family Foundation has awarded a $100,000 grant to the Yates Community Endowment, a new permanent fund of Rochester Area Community Foundation that will help Yates County nonprofit organizations deal with the area’s evolving needs, now and in the future.
Katie Nord Peterson, who is vice chair of the Nord Family Foundation board and a resident of Penn Yan, will co-chair the Yates Community Endowment’s advisory board, along with Thomas R. Argust of Italy Hill and Rochester. The full memberhip of the advisory board will be announced later this month.
Ryan Hallings of the Finger Lakes Economic Development Center says that typically, such foundations dedicate about 5 percent of the value of the principal per year for the benefit of the community, while still maintaining growth for the endowment.
“We’re really excited about the opportunities this will bring,” said Hallings, speaking for the FLEDC, adding, “We are glad to have such a successful foundation like the Nord Family come to Yates County.”
Jennifer Leonard, president and executive director of Rochester Area Community Foundation, said “We are thrilled with the endorsement this represents. This is the first investment in what can be a sustaining resource for the organizations in Yates County.”
Leonard explains that the Nord Family Challenge matching grants will also give area residents the opportunity to double their contributions to the not-for-profit organizations in the community with the confidence that the money will stay here.
The Nord Family Foundation is located in Amherst, Ohio, a suburb on Cleveland’s west side.
It awards grants to programs in Lorain County, where the foundation is based, but also supports nonprofits in other communities of interest to the children, grandchildren and great-grandchildren of the foundation founders, Walter and Virginia Nord. The Nord Family Foundation, in the tradition of its founders, endeavors to build community through support of projects that bring opportunity to the disadvantaged, strengthen the bond of families, and improve the quality of people’s lives. Katie Nord Peterson is a Nord granddaughter.
As one of the greater Rochester region’s largest grantmaking foundations, Rochester Area Community Foundation engages passionate philanthropists in becoming catalysts for community change in the areas of aging, arts and culture, civic engagement, early childhood development, education, environment, health, historical preservation, the needs of women and girls, youth and families, and more.
Since its founding in 1972, the Community Foundation has awarded more than $285 million in grants, and last year distributed more than $17 million in grants to improve the lives of people living in greater Rochester’s eight-county region.