EAST LIVERPOOL, Ohio (WKBN) – The East Liverpool Fawcett Community Foundation is working to improve its city. Between the donations and the use of the profits it gets in stock, the organization has accumulated a good amount of money. Recently, he received an anonymous donation of $100,000.
The East Liverpool Fawcett Community Foundation works to improve the quality of life in the city and surrounding townships by donating to charity or helping to fund different needs. An example is streetlights in the city center.
“So a few years ago we replaced all the streetlights with LED bulbs, costing $10,000 for the bulbs,” said Dr Marc Hoffrichter, of the East Liverpool Fawcett Community Foundation.
Recently, an anonymous donor donated $100,000. It’s not the biggest donation the band has received.
Any donation less than $500 is distributed the same year it is received.
“If we get a donation over $500, it goes into what we call our investment fund and we just use the income from the investment fund,” Dr. Hoffrichter said.
They do a mix of stocks and cash bonds, putting them in things they trust. Dr. Hoffrichter says that in 28 years they have never had a penny of overhead.
“I think it’s reassuring to the people who contribute to us that 100 cents of every dollar goes towards its purpose,” Dr. Hoffrichter said.
Any revenue the organization gets goes back into the community. Since its inception, the East Liverpool Fawcett Community Foundation has raised over $2 million. Any donor can say where they want that money to go, but the most recent anonymous donor didn’t say where they want the money to go.
Dr. Hoffrichter loves when donations are made to the foundation.
“Keep the money local instead of the American Cancer Society, the Red Cross. These are all worthwhile things, but the money comes out of the community. It stays at home,” Dr. Hoffrichter said.
The trustees of the foundation will have to meet to decide how they want to use the proceeds from the $100,000 donation.
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