The Community Foundation and Torch Technologies announce new community endowment fund
The Community Foundation of Huntsville/Madison County and Torch Technologies today announced the creation of a new endowed fund which will provide a perpetual source of grants for improving quality of life in Huntsville and Madison County.
The new fund, called the Community Catalyst Fund, is an endowment to be funded by unrestricted gifts which will empower the Community Foundation to make annual grants for the betterment of the community.
Stuart Obermann, CEO/President of the Community Foundation, stated, “This new fund will allow our foundation to become an active grant maker in our community, and allow our board and staff to make and manage strategic philanthropic investments which will have a positive impact for everyone living in the greater Huntsville area. The Community Impact Committee of our Board will conduct needs assessments in our region, and use these data to prioritize and fund strategic projects which will solve real problems in our community.”
Torch Technologies has provided the inaugural leadership gift to initiate the new Fund, and has been named the Torchbearer Sponsor of the Community Catalyst Fund. Torch has donated $50,000 to jump-start the fund, and is offering an additional $100,000 as a challenge grant to match other corporate and individual gifts to the Catalyst Fund. According to Bill Roark, Chairman and CEO of Torch, “We have been looking for the right opportunity for Torch to make a ‘signature’ type of commitment, one that would have a long-lasting positive impact on our community. We feel the Catalyst Fund provides just that opportunity.”
“We commend Torch on their bold and generous leadership in partnering with the Community Foundation on the creation of this new fund,” stated Bob Ludwig, Chairman of the Community Foundation. “We believe that in 5 or 10 years, this endowment will grow into a very significant ‘trust fund’ which will support and improve quality of life in our community forever.”
About the Community Foundation of Huntsville/Madison County
Our Mission: The Community Foundation of Huntsville/Madison County serves as the trustee of our community’s future, fostering philanthropy and mobilizing partners, while striving for an exceptional quality of life both today and tomorrow.
The Community Foundation, in its fifth year of operation, has raised or managed over $13.6M in charitable donations since inception, and has distributed over $3.4M to nonprofit agencies, churches and schools in our community and elsewhere. The foundation also provides educational, networking and capacity building services for the nonprofit organizations that benefit from our donors grants.
For more information about the Community Foundation, the Community Catalyst Fund, or other giving programs available, contact Stuart Obermann at 256.535.2065 or firstname.lastname@example.org or visit www.communityfoundationhsv.org.
About Torch Technologies
Founded in October 2002, Torch Technologies, Inc. (Torch) is an employee-owned Small Business dedicated to quality technical services, competitive costs and ethical business practices. Torch was the 2005 winner, a 2007 finalist, and a 2009 repeat winner of the Better Business Bureau’s Torch Award for Business Ethics in the North Alabama Region. Torch was nationally recognized by Entrepreneur Magazine in July 2006 as one of the 100 fastest growing companies in America. Torch won the 2007 Huntsville Chamber of Commerce Small Business of the Year award in the Technology Category. Also in 2007, the INC5000 ranked Torch as the number one Fastest Growing Privately-held Defense Contractor in the Southeast Region. Torch has been ranked in the INC5000 for seven consecutive years. In 2008 and again in 2012: Torch was named a winner of the Huntsville Best Places to Work award. Torch was selected by Inc. Magazine and Winning Workplaces as a winner in the 2011 “Top Small Company Workplaces” national competition. In 2008 the Alabama Information Technology Association Selected Torch Technologies, Inc. as Large Business of the Year “Leadership in Technology Award”; and the Principal Group named Torch “One of The Principal 10 Best Companies for Employee Financial Security” nationwide. In 2013, Torch was recognized by the Small Business Administration as “Small Business Prime Contractor of the Year” representing the eight southeastern states in SBA Region IV.