Cayuga Fund Exceeds Fundraising Goal, Receives $250,000 Grant
October 21, 2009 (Auburn, NY) – The Cayuga Community Fund, a community endowment established in 2008, announced today that it has exceeded the amount needed to meet a challenge grant issued by The Stardust Foundation. The Fund will begin to implement grantmaking in early 2010.
The Fund was established last year by a group of Cayuga County citizens who wanted to keep local philanthropic dollars in the area. To help jumpstart fundraising, the Stardust Foundation issued a challenge grant of $250,000 to match dollar-for-dollar contributions raised to the fund.
By the time they had reached their challenge deadline at the end of September, the Fund’s Leadership Council, comprised of thirteen Cayuga County residents and businesspeople, had raised $287,890. With the Stardust Foundation matching grant, the endowment has now exceeded $500,000. The Fund also just received an additional $30,000 grant from the Allyn Foundation to support its operating expenses through mid-2011.
The Leadership Council will begin grantmaking from the Fund in early 2010. Nonprofit 501(c)(3) organizations that benefit Cayuga County citizens will be eligible to apply. Application guidelines and deadlines will be announced early next year.
Visit the Cayuga Fund page to learn more about this initiative.