OSWEGO, N.Y. — DeWitt–based Community Bank (NYSE: CBU) recently donated $50,000 to the Oswego Health Foundation Endowment Fund “to support the fund and the transformation of the health-care system.”
The fund was established in 2021 by a “few determined donors who wanted to leave a lasting impact” on the community, Oswego Health said in its Monday announcement.
“Community Bank’s support of the Endowment Fund sends a message that they care about long-term stability, fiscal responsibility, and financial viability,” Margaret Barclay, executive director of the Oswego Health Foundation, said in the announcement. “Their support will ensure Oswego Health’s ability to care for our community into the future.”
(Sponsored)
Why Now Is the Time To Start Planning for Your Company’s Business Succession
You’ve built a great business, and you love what you do. Retirement is a long way off, so why worry about how you’ll transition the ownership of your company down
Fraud Contingencies Plans Are Essential
Your business likely has a disaster recovery plan in place—procedures for handling fires, natural disasters or other crises that could disrupt operations or endanger lives. While a fraud contingency plan
The Oswego Health Foundation Endowment Fund is designed to keep the donors’ investments in Oswego Health “intact” while using the investment income for future health-care investments. The endowment serves as “income in perpetuity,” and Oswego Health says it will be able to count on annual distributions for its charitable work.
Funds may be designated for endowment by the donor or by the board of directors, Oswego Health noted.
“Community Bank is very pleased to support Oswego Health, a vital institution in supporting the health-care needs and quality of life for residents across the Oswego County community,” Mark Tryniski, president & CEO of Community Bank, said in the Oswego Health news release.
