Mission & Governance

Mission

The mission of The Schenectady Foundation is to achieve sustainable improvement in the health and welfare of people, organizations and neighborhoods in Schenectady County through the investment of philanthropic resources.

Governance

The Schenectady Foundation is a philanthropic trust. Unlike most current community foundations, it is not incorporated and therefore does not have a board of directors. Governance is conducted by three distinct entities:

Trustee Banks

Banks with trust powers in Schenectady are eligible to serve as Trustees of the Foundation. The Trustees hold and invest funds, generating income for the charitable purposes of the Foundation. Currently, Trustco Bank and Key Bank serve as Trustees, and Bank of America is eligible to serve as a Trustee.

Distribution Committee

A committee of seven members of the community responsible for determining the distribution of income consistent with the Foundation's purposes. The Distribution Committee also has powers to act similar to a board of directors, although these powers are balanced by the authority of the Trustees and Appointing Authority.

Appointing Authority

Community members who, by virtue of their leadership positions in specific organizations, possess the responsibility for appointing a majority (5) of the members of the Distribution Committee. The Trustee Banks are responsible for appointing two members of the Distribution Committee. The members of the Appointing Authority are:

• President of Union College
• Chief Volunteer Office of United Way of Schenectady County
• Chief Volunteer Officer of Schenectady County Chamber of Commerce
• Judge holding highest elected jurisdiction in Schenectady County (Supreme Court)