The Cayuga Fund Leadership Council stands in front of the Springside Inn of Auburn. Front row (left to right): Alice Hoatland, Marianne O’Connor, Jill Fandrich, Peggy Ogden; Back row: Robert Bergan, Jack Hardy, Daniel Cuddy, James Courtney, Stephen Zabriskie. Absent: Ken Entenmann, Howard Hartnett, G. William Ryan, Lisa Marsh Ryerson, T. David Stapleton
When Jerry Bisgrove, a successful businessman living in Arizona, visited his hometown of Auburn in 2007, he issued a challenge to the area’s residents—build a community endowment to help the county reach its full potential. Bisgrove, once board chair of the Arizona Community Foundation in Phoenix, understood how important community foundations could be in supporting the development of a region. He wanted to see his hometown and county flourish, so his private foundation—The Stardust Foundation—issued a challenge grant of $250,000, matching dollar-for-dollar contributions raised for a new fund.
Since then, a Leadership Council now comprised of thirteen Cayuga County residents and businesspeople have been working diligently to fundraise and formalize their organizational structure. One major decision they agreed upon in the early stages of its establishment was to house their endowment, the Cayuga Community Fund, at the Central New York Community Foundation. As a component fund, the Leadership Council is able to take advantage of ‘economies of scale’ by participating in our investment pool and utilizing our philanthropic services, freeing up the Council to focus its time and energy on fundraising and making grants.
“The Community Foundation has a great reputation, doing a magnificent job in the Central New York area,” said David Stapleton, an Auburn attorney and Leadership Council member. “By housing our fund there, we are relieved of the financial and administrative burden associated with holding it privately and can take advantage of the professional staff knowledge and expertise.”
The Cayuga Community Fund has been enthusiastically received by Cayuga County residents. As a result, the Leadership Council is on track to reach its Stardust Foundation fundraising challenge. Soon, the Council will be establishing a grantmaking program for the fund, developing what they hope will make a significant difference in the place they call home.