The Hamilton College Town-Gown Fund has launched the second phase of a fund-raising campaign aimed at bringing the value of the fund to $1 million.
More than 100 Central New York corporations and businesses, each of which has conducted at least $50,000 in business with the college over the past three years, are being mailed a letter asking them to consider a contribution to the fund. An almost equal number of businesses outside the region will also be contacted.
"Over the next few years, we hope to raise at least $1 million in endowment for this fund," said Hamilton Vice President for Communications and Development Richard C. Tantillo. "When we reach our goal, we will be able to make approximately $50,000 in grants annually to local educational, public safety and cultural organizations."
Tantillo emphasized that all income generated by the endowment stays in the community. He said he expects the campaign to be an annual appeal.
Hamilton President Eugene M. Tobin, who chairs the Town-Gown Fund Committee, said "Businesses and organizations that contribute to this fund are investing in the education, culture and overall quality of life in our community."
The Hamilton College Town-Gown Fund, which was established two years ago with support from several private donors, also received a $100,000 allocation from the college in 2002. Its value now stands at approximately $400,000. The fund's annual income, which is calculated to be 5 percent of its market value, is used to fund noteworthy community projects. During the first two years of its operation, the fund distributed grants totaling $30,000 to the Clinton Central School District, the Clinton Fire Department, St. Mary's School, the Kirkland Police Department, the Clinton Historical Society, the Kirkland Art Center and the Clinton Central Schools Foundation.
All told, over the past three years, Hamilton has purchased more than $26 million in goods and services from the 100-plus Central New York businesses that will receive letters this week. The college has spent more than $2 million alone with local printers during that time.
"The Town-Gown Fund is one way Hamilton is investing in the Central New York region," Tobin said, "and we hope the many local companies with which we do business will respond generously to this appeal."
In addition to soliciting local businesses, Hamilton gives its employees the option of designating their annual gifts to the fund. The college also plans to ask alumni and friends living in the area to support the fund, and there are plans to contact Hamilton alumni who are native to Central New York but who now live elsewhere.
"We hope anyone who values the college and the community will consider supporting this very worthwhile investment," said Tantillo.
