Foundations team up to grow assets
Rochester Post Bulletin
05/20/2006
From staff reports
The board of directors of the Rochester Public School Foundation
recently decided to place the foundation's largest assets with the
Rochester Area Foundation.
The decision was based on the Rochester Area Foundation's larger,
more diverse investment pool and, therefore, its ability to grow
assets faster, said Ann Lynch, board member of the Rochester Public
School Foundation. She also said the Rochester Area Foundation has
the expertise to better manage the school foundation assets.
The Rochester Public School Foundation has about $60,000 in assets
while the Rochester Area Foundation has about $36 million.
The mission of the Rochester Public School Foundation is to enhance
public education through grants. Funding comes from school district
staff members, community members, businesses, other foundations and
civic organizations.
With the assets of more than 30 local nonprofit groups placed in
its management, the Rochester Area Foundation's mission is to
strengthen community giving to improve Rochester's quality of life.
It makes grants to people and organizations involved in the arts,
community development, education, human services and recreation.
