$2 Million Legacy Gift Provides Good Medicine for Naugatuck

 

WATERBURY, CT – July 20, 2009 – With a gift of nearly $2 million, former Naugatuck Mayor Mike Bronko and the Burgesses of the Borough recently established the Saunders Fund for the Sick and Infirm of the Borough of Naugatuck, a permanent advised fund with the Connecticut Community Foundation in Waterbury.

The gift is a result of forward thinking by Naugatuck resident Emmett A. Saunders, who in 1923, established a sizeable trust to benefit his family and his communities. According to his wishes, when the last beneficiary of the trust died in 2004, the remaining funds – more than $4 million – were to be distributed to the footwear and rubber manufacturing executive’s descendants, a hospital in Indiana, and the sick and infirm of the Borough of Naugatuck.

"The Borough of Naugatuck determined that the Foundation was the best choice for handling the Saunders' Trust funds," said Bronko who was instrumental in establishing the fund. "It was my pleasure to work with them to set up the fund, and to know that Borough residents will benefit perpetually from Mr. Saunders' gift."

Working with the Foundation's staff, an advisory committee for the Saunders Fund will annually recommend grants for agencies and nonprofits that provide healthcare and health-related social services for residents of Naugatuck. The first grants will be awarded this fall. The advisory committee is made up of Naugatuck residents who represent the clergy and/or who have experience in health care and social services. Members include Katherine Carten, Stanley Dudrick, MD, chair of the Advisory Committee, Rev. Tim Leggett, Mary Pelletier, and Lorraine Shea. The committee is staffed by Ann Merriam Feinberg, director of Outreach and Development at the CT Community Foundation.

"In carrying out our mandated responsibilities, the Saunders Fund Advisory Committee and I are privileged and honored to serve the best interests of our fellow Naugatuck citizens," said Dr. Dudrick. "We are dedicated to seeking optimal ways and means to improve the health and quality of life of the sick and infirm of the Borough as provided and directed by the Saunders Trust."

Saunders Fund Kicks Off at Home of Mark and Nikki Yanarella
On June 24, Naugatuck residents Nikki and Mark Yanarella, a former trustee of the CT Community Foundation and president and CEO of Naugatuck Savings Bank, hosted a gathering at their home to celebrate the establishment of the Saunders Fund. Guests included members of the Saunders Fund Advisory Committee, Borough officials, Senator Joan Hartley and trustees from the CT Community Foundation.

About the Connecticut Community Foundation
Founded in 1923 as the Waterbury Foundation, the Connecticut Community Foundation was the first community foundation in the state.
Serving 21 towns in the Greater Waterbury and Litchfield Hills, the Foundation administers more than 380 charitable funds established by local donors. Funds reflect a variety of philanthropic interests and support a range of giving opportunities in the arts, environment, health care, education, human services and women's and children's initiatives. With this support, the Foundation provides grants and services to nonprofit organizations and scholarships to students. Volunteers and staff offer their expertise by serving on committees and supporting special initiatives that effect positive change, growth and improve the quality of life in our region. For more information, go to www.conncf.org.

Saunders Fund Kick Off Party
On June 24, Naugatuck residents Mark and Nikki Yanarella hosted a gathering at their home to celebrate the establishment of the Saunders Fund for the Sick and Infirm of the Borough of Naugatuck. Guests included members of the Saunders Fund Advisory Committee, Borough officials and trustees from the CT Community Foundation where the fund is managed. Pictured from left to right are Nikki Yanarella, Mike Bronko, former mayor of Naugatuck who was instrumental in establishing the fund, Peter Jacoby, MD, president of the CT Community Foundation and chairman of Emergency Medicine at St. Mary's Hospital, Saunders Advisory Committee members Loraine Shea, Mary Pelletier, Stanley Dudrick, MD, Senator Joan Hartley, and Mark Yanarella, a former trustee of the CT Community Foundation and president and CEO of Naugatuck Savings Bank.