David S. Howes Foundation Gifts $18 Million to Niagara Community Foundation
The Estate of David S. Howes has granted the Niagara Community Foundation one of the largest monetary gifts in Niagara history.
The over $18 million gift from the David S. Howes Foundation will form the endowment of the NCF's new David S. Howes Fund. Per Mr. Howes' directions, grants from this Fund will support post-secondary education, health care services, education or facilities and humanitarian issues throughout Niagara.
The NCF has received the first tranche of funding to date, totaling $10 million. The remaining funding will push the Foundation's endowment to approximately $50 million.
"David first donated $100,000 to the Foundation in 2014 to open the David & Susanne DiLalla Howes Family Fund. In a very real way, it was a test of how the Foundation would manage his legacy," said Bob Watson, chair of the NCF's board of directors. "All things considered, it looks like we passed the test."
Watson said, "We're incredibly grateful to David and his Foundation for this transformational gift. We are dedicated to serving as good stewards for David's legacy and ensuring that it endures in the community for decades to come."
Bryan Rose, NCF Executive Director, said the David S. Howes Fund will be a separate granting stream from the existing Niagara Community Foundation funds. The interest on the endowment will be directed towards larger and more complex projects than the Foundation has been able to fund previously.
"This gift takes the Niagara Community Foundation to the next level. We're going to be able to get into major giving in a way we never could before. The scale of the gifts we can give will increase dramatically."
"We're going to be able to have a much larger impact on Niagara than ever," said Rose.
Created in 2000, the Niagara Community Foundation has raised more than $30.5 million and has granted in excess of $9.7 million to charities working in the arts, heritage, environment, social services, health, education and community development.
Bryan Rose, Executive Director, Niagara Community Foundation
p: 905-684-8688 x22
Photos from the Announcement - September 26, 2017