See how the Foundation Works

A Foundation for Growing Community

Since 1962 The Schenectady Foundation has been building the assets of caring citizens for the health and welfare of our community. The Foundation was established as a philanthropic trust designed to meet pressing community needs with income generated from the investment of contributed assets. Today The Schenectady Foundation maintains assets of about $27 million (as of 12/31/06), and strategically serves our community, its non-profit organizations and the people they help. How does it work?

• Individuals make gifts to the Foundation, usually through estate planning or bequests in their wills. Cash gifts are also accepted.
• Gifts are invested and managed by trustee banks, and the income is made available for grants.
• A committee of community leaders assesses current needs and issues, and seeks project that will most effectively address them.
• Grants are made to non-profits for projects or programs that demonstrate their value to the community.
• Most gifts are unrestricted, enabling the Foundation to make grants that are significant and meet current needs.
• Gifts restricted to a field of interest or to a specific organization are accepted if they are substantial enough to warrant the administrative costs and to make meaningful grants.

Nearly $10 million in grants have been made to organizations that serve people who live or work in Schenectady County - more than $7 million of that over the past 10 years.