LATHAM - January 5, 2007 - In its continuing effort to help nonprofits grow their financial resources for the future, The Community Foundation for the Capital Region launched the Legacy Partnership ProgramSM, a new initiative to assist nonprofits in building endowments.

It also announced a three-year, $75,000 commitment from KeyBank for the hiring of a major gifts/planned-giving specialist who will become a part-time, dedicated staff member to each participating nonprofit under the Legacy Partnership ProgramSM.

Through the Legacy Partnership ProgramSM, the Community Foundation for the Capital Region will provide planned giving expertise, structure and support to participating nonprofits, as well as act as steward of the endowment funds.

Six area nonprofits "“ Equinox, Legal Aid of Northeastern New York, Saratoga PLAN, the Schenectady Museum, Trinity Institution and Unity House "“ are in the first wave to participate in the program. Another six organizations will be able to join the program in September.

"This is the first time that six Capital Region nonprofits "“ diverse in mission and geography -have come together to work collaboratively," said E. Kristen Frederick," President/CEO, The Community Foundation for the Capital Region. "The Legacy Partnership ProgramSM is a terrific model for the Capital Region. I am very appreciative of KeyBank for providing initial funding to make this program possible, and I look forward to other businesses joining them in supporting this effort."

"The nonprofit sector plays a vital role in every community. Nowhere is this truer than in the Capital Region, which is home to more than 1,500 nonprofit organizations," said Thomas X. Geisel, president, Northeast Region, KeyBank N.A "If you think about the number of lives these organizations impact, it’s staggering. They are important to our economy and our quality of life, and Key is proud to support them through the Community Foundation for the Capital Region’s Legacy Partnership ProgramSM."

Developed by the Dayton Foundation, in Dayton, Ohio, The Legacy Partnership ProgramSM has been very successful since it was created in 2002. It has brought in more than 700 gifts to nonprofit endowments, and the average deferred gift through the Legacy Partnership ProgramSM is $40,000, while the average deferred gift nationwide is $18,000.

The Legacy Partnership ProgramSM attributes its success to its different approach to building endowments "“ "heart-based," rather than "wealth-based." The approach is built on the premise that most gifts to endowments come from the estates of families thinking about which organizations have made a strong, lasting impact on their lives.

Therefore, the Legacy Partnership ProgramSM encourages organizations to focus on "friends" of the organization, rather than competing with each other by going after the wealthiest people in a community.

In addition, rather than asking people to give from current income, Legacy Partnership ProgramSM invites them to commit assets that will come to the organization through a will, life insurance policy, annuity, charitable remainder trust or other deferred giving vehicle.

The Community Foundation for the Capital Region is a private charity that manages more than 275 charitable funds for individuals, families, businesses, and organizations. The funds are invested, and their income is used to meet the changing needs of the Capital Region community.

KeyCorp (NYSE: KEY) is one of the nation’s largest bank-based financial services companies, with assets of approximately $96 billion. Recently recognized by the Business Review as one of the Great Places to Work in the Capital Region, the 10-county Capital Region NY District, one of 23 KeyCorp districts, has assets of approximately $3.3 billion. Across New York State, Key has one of the largest networks of branches and ATMs. Key is a leader in community involvement, and contributes more than $1 million to local nonprofit agencies and organizations throughout the Capital Region. A strong proponent for local economic growth, Key companies provide investment management, retail and commercial banking, retirement, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company’s businesses deliver their products and services through KeyCenters and offices; a network of approximately 2,300 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com, that provides account access and financial products 24 hours a day.

KeyBank

KeyBank

KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $187 billion at June 30, 2024.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.

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