GloFo foundation doles out $60,000 to host of community groups
MALTA The GlobalFoundries-Town of Malta Foundation has awarded a total of $60,000 to more than 20 community organizations and projects.
The foundation announced its annual awards Tuesday. This is the first year that the $3 million foundation, funded by GlobalFoundries and managed by the computer chip company and the town, has been fully funded.
Managed by a board of town and GlobalFoundries appointees, the nonprofit foundation distributes its investment income each year in grants to community organizations and projects.
The largest grants this year were $5,000 each to the Malta Sunrise Rotary Club to support a regional robotics competition and to Rugrunners Robotics to help fund the competitive robotics club at Shenendehowa High School.
Awarded $3,500 were Junior Achievement of Northeastern New York for a program in the Ballston Spa elementary schools; the Malta Ridge Fire Company for automatic defibrillators; the Round Lake Auditorium for safety and restoration work; and the Malta Youth Commission for Family Fund Night events in 2013.
The Malta Ambulance Corps, Saratoga Bridges, Rebuilding Together Saratoga County, Round Lake/Malta Youth Baseball, Saratoga Arts Fest and the Regional Food Bank of Northeastern New York each were awarded $3,000 grants.
Other organizations received grants of between $1,000 and $2,500.
Last year, the first in which awards were made, the foundation distributed $37,500, but it was not yet fully funded. In the past year, GlobalFoundries contributed $2 million as it reached production startup milestones at Fab 8.
A second foundation for the town of Stillwater, the GlobalFoundries-Stillwater Foundation, has been formed with a $1 million endowment. There, the board of directors is still developing a strategy to evaluate and fund projects.
The company also contributed $1 million toward the cost of the town sports complex that has been built at the Luther Forest Technology Campus and is expected to open in the spring.