ELIZABETHTOWN ACT and the Bruce L. Crary Foundation have established a milestone in Adirondack philanthropy a partnership between two community institutions that will lead to increased efficiency in administration and investments management.
ACT, a community foundation, attracts and manages endowment funds established by individuals, families, nonprofit organizations and businesses to enhance the quality of life in the region. Income from the funds supports a wide range of needs in the form of grants based on the intent of the donors. From its Lake Placid offices, ACT manages 90 funds for donors, including 20 scholarship funds as well as 50 funds for nonprofits. It has distributed over $6 million in grants and scholarships since its inception in 1997.
The Bruce L. Crary Foundation has been awarding college scholarships to North Country students for over 35 years. The Foundation was established through the estate of Bruce L. Crary, a resident of Westport. To date it has helped 6,000 people pay for their higher education with grants totaling almost $7 million.
On July 1, the Crary Foundation became a Supporting Organization of ACT. With this transition, Crary changes from a private foundation in order to share the benefits of a public charity. By supporting the charitable purposes of ACT, Crary is exempt from certain taxes and will enable its donors to be eligible for greater deductions.
Arthur V. Savage, Vice President of the Crary Board, said, This is an important move for Crary as well as ACT. Crary will continue doing the same as we always have, providing assistance to those students who show special promise and true financial need.
The Crary Foundation offers scholarships to full-time undergraduate students who are residents of Clinton, Essex, Franklin, Hamilton, and Warren counties. The Foundation will continue to be based at The Hand House in Elizabethtown with its existing staff.