The Suffolk Education Foundation Transfers
Financial Assets to the Suffolk Foundation

Suffolk, VA, September 27, 2010…The Board of the Suffolk Education Foundation will sign an agreement to transfer its financial assets of over $400,000 to the Suffolk Foundation today at 4:00pm at the SunTrust Bank building at 123 N. Main Street, Suffolk. The Suffolk Education Foundation will continue to raise donations and make grants to the Suffolk Public School teachers and award scholarships to students as it has for the past 17 years.

As the Suffolk Foundation was established to professionally manage foundation and individual assets, this transfer will support the growth of the Suffolk Foundation and its mission to improve the quality of life in the City of Suffolk and the surrounding areas.

“The Board of the Suffolk Education Foundation believes the transfer will enable the Suffolk Education Foundation to focus on continuing to grow our development and grant activities while ensuring our funds are well-managed by the Suffolk Foundation,” stated Gail Pruden, President of the Suffolk Education Foundation. “We are delighted to support the mission of the Suffolk Foundation and feel this transfer is a win-win situation for both organizations”.

Whitney Saunders, President of the Suffolk Foundation concurred. “We look forward to partnering with the Suffolk Education Foundation and ensuring their assets are well-managed so their grant work on behalf of the Suffolk Public Schools can continue.

The two foundations’ missions have strong synergy as both are focused on enhancing the Suffolk community through charitable giving and partnerships.

Founded in 1993, the Suffolk Education Foundation enhances educational experiences of students and staff of Suffolk Public Schools through partnership with the community. The Foundation has funded more than $450,000 in classroom grants, college scholarships and tuition assistance.

The Suffolk Foundation is an organization committed to meeting charitable needs of the people of the City of Suffolk and surrounding areas. Since its inception in 2006, the Suffolk Foundation has provided over $400,000 in disaster relief, annual awards, scholarships, and donor-advised gifts to non-profits.