O&R Awards $10,000 Grant to the Rockland Community Foundation
Orange and Rockland Utilities, Inc. (O&R) has awarded a $10,000 grant to the Rockland Community Foundation (RCF) to develop initiatives to support, enhance and promote the foundation’s work.
RCF is a 501c3, not-for-profit organization that manages a significant number of donor fund accounts through a portfolio of investments to create a self-sustaining, long-term charitable endowment. The profits from those investments are directed toward endeavors that result in community improvement through grants, scholarships, disaster relief and other community enhancement efforts.
President of the RCF Board of Directors Judge William E. Sherwood said, “The Rockland Community Foundation holds more charitable funds and touches a wider range of non-profit causes than any other organization in Rockland County. It has made considerable strides in the past four years to establish itself as a sound vehicle through which individuals and organizations can support non-profit causes in Rockland County and surrounding areas.”
Fund assets have grown from $191,000 across 16 funds in 2011 to over $1.7 million across 51 funds in 2015. RCF distributed more than $78,000 in grants to local non-profit causes in calendar year 2014, and has already distributed over $100,000 in support of non-profit causes through October 2015.
O&R’s grant is aimed at expanding RCF’s capacity by making its daily operational practices more efficient. In response to an RFC proposal, O&R’s $10,000 grant is dedicated to funding an integrated management system that will consolidate and manage RCF’s back end administrative and financial processes. This will enable RCF to more effectively manage donor investment accounts and free up volunteer board members and other staff to focus their energies on further growing the foundation’s donor base.
O&R President and CEO Tim Cawley said, “RCF is in the hope business and O&R is proud to support its work.”
He added, “O&R’s donation differs from the typical contribution RCF receives. Instead of creating an account or donating money for charitable giving, O&R is funding an operational enhancement that automates a now labor-intensive, manual process within the RCF organization. This operational efficiency permits RCF to manage its accounts more effectively and grow its business more quickly. That means more money goes to more very deserving charitable pursuits.”
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