Community Foundation Welcomes Former Mele Foundation into Family of Donor-Advised Funds

Multi-Million Dollar Gift is Largest Single Gift in Foundation History

(Utica, NY) On December 22, 2009, The Mele Foundation, Inc., a private family foundation, was dissolved through the State Department of New York and its assets transferred into a donor-advised fund of The Community Foundation of Herkimer & Oneida Counties, Inc. The new fund will be called the Mele Family Fund with assets of nearly $6 million, and has the distinction of being The Foundation’s largest single gift in its 58-year history.

By converting to a donor-advised fund, the Mele family has preserved their ability to recommend grants in their areas of charitable interest while unburdening themselves of administrative duties, tax filings and fiduciary responsibilities of a private foundation. Of the estimated 44,000 private foundations in the United States, approximately 6% of them dissolve annually. The Community Foundation is home to six former private foundations, three of which arrived in 2009.

Donor-advised funds are a practical alternative to private foundations. Peggy O’Shea, president & CEO of The Community Foundation, said, “Private foundations consume many resources, from administration to staffing to legal filings, which can distract from community grant-making. Managing funds and working closely with donors to make positive change in our region through grant making is part of what community foundations do. We are pleased to welcome the Mele Family Fund into our philanthropic circle.”

Mele family members and senior staff from the Mele Foundation will serve as donor-advisors to the fund, recommending charitable grants for area not-for-profit organizations. “The Mele family and Mele & Co. have been part of this community for close to a century, and during that time established a legacy of giving back to it while they were growing both business and family. We are grateful that they will continue this rich philanthropic tradition in partnership with us,” O’Shea continued.

Michael Valentine, President of Mele & Co., commented, “We are pleased to partner with The Community Foundation with the creation of the donor-advised Mele Family Fund. This change will increase the effectiveness of our grant making and ensure the continuity of the philanthropic goals begun with the Mele Foundation in the coming years.”

Since its inception, The Community Foundation has made more than 4,500 grants totaling over $35.2 million in support of causes ranging from education to health care, the arts to the environment. Grants are generated by the more than 275 foundation funds that have been established and advanced by area individuals and families and continue to grow through investment, giving forever. For more information about The Community Foundation, call 315-735-8212 or visit www.foundationhoc.org.

Community Foundation Welcomes Former Mele Foundation into Family of Donor-Advised Funds

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