CFD Research Corporation announces major new gifts to the Community Foundation and Habitat for Humanity
CFD Research Corporation (CFDRC), located in Cummings Research Park, is making a major investment in the community through two new gifts.
CFDRC is contributing $100,000 to the Community Catalyst Fund at the Community Foundation of Huntsville/Madison County. The Community Catalyst Fund is a new endowed fund that will provide a perpetual source of grants for improving quality of life in Huntsville and Madison County.
CFDRC is also contributing $50,000 to Habitat for Humanity of Madison County. Habitat is an ecumenical Christian housing ministry that seeks to eliminate poverty housing from our community and make decent shelter a matter of conscience and action.
About the Community Catalyst Fund
The Community Catalyst Fund is an endowment funded by unrestricted gifts that will empower the Community Foundation to make annual grants for the betterment of the community.
Stuart Obermann, CEO/President of the Community Foundation, stated, “All the principal from donations made to the Community Catalyst Fund will be preserved for generations to come – with only the income being distributed. This new community endowment will be become an incredibly powerful resource over many years ahead, allowing our foundation to respond to new needs and opportunities in our community as they arise in the future.”
Bob Ludwig, Chairman of the Community Foundation Board, stated, “We are incredibly appreciative of Dr. Ashok and Sangeeta Singhal and the CFDRC team for this gift. This is a strategic philanthropic investment, and they have great vision for wanting to use their charitable donation to make a sustained impact over many years.”
Sangeeta Singhal, co-chairperson of CFDRC, said, “We love Huntsville; and, together with the leadership team and employee family of CFDRC, we were searching for a way to make a lasting impact. We know that the gift to the Community Catalyst Fund will continue to support our home area for decades to come. In the same way, we know the gift we are making this year to Habitat will help change families’ lives for the long-term.”
Joe Cosumano Jr., LTG(R), President and CEO of CFDRC, stated: “As our company grows to meet the technology and development challenges of the 21st Century, our leadership and employees wanted to share our success with the community that supports us. I am very pleased at the participation and support our employees provide to numerous charitable organizations. It is our way of ‘giving back’.”
In August 2014, Torch Technologies provided the inaugural leadership gift to initiate the Community Catalyst Fund at the Community Foundation. Torch donated $50,000 to jump-start the fund, and provided an additional $100,000 as a challenge grant to match other corporate and individual gifts to the Catalyst Fund.