Hamilton Community Foundation receives $50 million commitment from local family
First grants support health care and pandemic response
HAMILTON, ON, June 22, 2022 /CNW/ - Local philanthropists, the Paletta family, today announced a $50 million commitment to Hamilton Community Foundation which, when realized, will represent the largest donation ever to the organization in its 68-year history.
The gift establishes the Pasquale & Anita Paletta Family Fund at Hamilton Community Foundation with a $25 million donation and a $25 million legacy pledge. The fund will support the family's charitable interests throughout the Hamilton-Burlington area. This includes grants totaling $600,000 announced today.
"The Hamilton-Burlington area has been integral to our family, giving three generations the opportunity to learn, work and be successful," said spokesperson Paul Paletta. "Our parents met and raised their four boys who have raised their own families and still live here. Our dad started his business in this area, which has now been passed on to the next generation, where it is still headquartered. This fund is a great way for us to continue to give back to the communities that have given us so much."
Giving is a family tradition for the Palettas. Inspired by the example that Pasquale ("Pat") Paletta set for his children, the family's long and significant history of philanthropy dates back decades with donations to many local organizations, notably in health care.
"We're honoured to work with the Paletta family, who have such a deep commitment to community and making a difference with their philanthropy," said Hamilton Community Foundation president & CEO Terry Cooke.
Paul Paletta says that the family chose Hamilton Community Foundation to help them realize their philanthropic goals, for a number of reasons.
"It's local," he says. "It was highly recommended for its exceptional reputation, and we really enjoy working with its team of community-driven people."
Three grants were announced today from the Pasquale & Anita Paletta Family Fund reflecting the family's gratitude for the health care their father received as he aged, and their desire to provide excellent care for those dealing with kidney and cardio-vascular health:
- $250,000 to the Halton Healthcare Foundation to support kidney-related programs
- $250,000 to Hamilton Health Sciences for cardio-vascular programs
- $100,000 to the Joseph Brant Hospital Foundation's "More than a Business" campaign.
A half-million dollar grant already made to support Hamilton Community Foundation's pandemic response brings the impact of the Pasquale & Anita Paletta Family Fund to $1.1 million to date.
"Giving is important for us all to do," said Paul Paletta. "We all needed some help to get where we are today. It doesn't matter how much or how little, what's most important is that you give. Not only will you achieve what you hope to, you're probably going to do a lot more than you thought. We hope that this commitment will inspire others to give back as well"
About Hamilton Community Foundation
Hamilton Community Foundation has been working to drive positive change in Hamilton since 1954. We do this by helping people give in a way that has meaning to them and impact in the community, providing grants and financing to charitable organizations and initiatives and bringing people together to address priority issues that affect Hamiltonians. Last year HCF gave 918 grants to 344 charities, totalling $12.5 million. Learn more at www.hamiltoncommunityfoundation.ca
SOURCE Hamilton Community Foundation
Media contacts: Terry Cooke, Hamilton Community Foundation: 905.977.0450, [email protected]; Paul Paletta, please contact Sarah Tratt: [email protected]; 416.577.2138
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