News

Paletta family to commit $50 M to Hamilton Community Foundation – Hamilton


A prominent Hamilton-based family is set to make the largest donation to one of the city’s oldest and largest charities.

The Paletta family has made a $50 million commitment to Hamilton Community Foundation (HCF), represents the largest-ever donation in its 68-year history.

This money will establish the Pasquale & Anita Paletta Family Foundation through a $25 million donation and a $25 million legacy pledge supporting family charitable interests throughout the Hamilton-Burlington area. .

Read more:

Hamilton named the Great Hall after legendary conductor Boris Brott in memory

Spokesman Paul Paletta said the spirit behind the donation came from his father, Pasquale (Pat), who suffered “bumps and bruises” in the 50s to build the first meatpacking plant in Hannon, eventually expanding it into the largest privately owned meatpacker in Eastern Canada in the 1980s.

The story continues below the ad

“One of the things that was very important to him, which he gave his four sons a fire for, was to make sure we didn’t lose track of where he came from and where we came from.” Paletta tells 900 CHML’s Good morning Hamilton.

“Always do your part to help future generations succeed and that’s the big part of it.”

Paletta said the family chose HCF because of its “exceptional reputation” for working with the community.

The family has made three grants with the proceeds to the Halton Healthcare Foundation, Hamilton Health Sciences and Joseph Brant Hospital to show gratitude for the care Pat receives as he ages and respect for those working with kidney and heart health.

HCF’s previous half-million-dollar pandemic response brings the Paletta Family Foundation up to $1.1 million in contributions to date.

The story continues below the ad

HCF President and CEO Terry Cooke said the organization has been “humbled” with donations and impressed with Paletta’s continued service to the community over the decades.

“I was struck by the consistency of the values,” says Cooke.

“The reality is that the family and business have done well here and they haven’t forgotten where they come from.”

Read more:

New basketball court, Hamilton’s signature gig put Arkells back in the spotlight

Cooke says a $25 million pledge will be made over a number of years in the form of a fund advised by donors. HCF staff will advise the family which charities will receive the money.

HCF was founded in 1954 through a single gift of $200 humbly donated by a widow in North End Hamilton. The company has now grown to order more than a quarter of a million assets today.

In 2021, HCF has granted 918 grants to 344 charities, totaling $12.5 million, in an effort to address daily priority issues affecting Hamiltonians.

© 2022 Global News, a division of Corus Entertainment Inc.





Source link

news7h

News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button