THE KNOX FOUNDATION
Background For 40 years the Knox Foundation has worked to carry out the
vision of Betty Knox, a Hartford benefactress
and member of the Court of Common Council, who left the bulk of her estate to
improve the city of Hartford
through beautification efforts. From its founding, in 1966, to 1977, the Knox
Foundation operated as one entity with two major emphases: one focused on
horticulture—the “greening of Hartford”—and
the second on downtown rejuvenation, or civic renewal.
In the early 1970s, during a period when it was unprofitable
to undertake commercial development in downtown Hartford, the foundation allocated about
one-half of its assets to help stimulate development downtown. One such
Knox-stimulated civic renewal project was the building of the Carousel in Bushnell Park.
In 1977 the two distinct emphases gave birth to two separate
organizations and the corpus was evenly divided between them, providing
$700,000 to each. The greening committee became the Knox Parks Foundation. The
downtown rejuvenation effort, first called the Knox Downtown Foundation, is
known today as The Knox Foundation.
Mission Statement To promote
the vitality of the city of Hartford
as a unique urban place. The Knox Foundation defines its central mission as community
building: creating a sense of shared commitment to the City by the diverse
groups that constitute its citizenry, and creating a sense of commonality
between the City and its neighboring towns. Because of this mission, the values
that infuse all of the Foundation’s initiatives are:1) acceptance — indeed celebration — of Hartford’s greatest
asset, its rich racial, ethnic and cultural mix, and 2) collaborative
approaches to planning, problem–solving and leadership.
Charitable Contributions Three major goals have guided Knox distributions:
1. ‑Small Grants to non-profit
organizations that, generally, have nowhere else to turn. Grants usually do not
exceed $2,000.00.
2. ‑Special Grants, up to $10,000.00
to a single grantee in one year.
3. ‑Priority Concern grants. On
occasion the foundation defines a priority concern in which the Board members
become pro-active and to which it offers support.
Grants During 2003, 2004 and 2005,
the Knox Foundation made 132 small grants, disbursing a total of about $184,000.00.
In addition, during this period 2 special grants, totalling
$25,000.00, were awarded.
The foundation accepts applications throughout the year for
small grants ranging in amounts up to $2,000.00. Special and Priority Concern
grants are awarded on occasion.
Staff The Knox Foundation operates with the support of a contracted
administrative consultant who also serves as the assistant secretary/treasurer.
In addition, the Board contracts for investment advisory and auditing services.
Board of Trustees The Board has 15 authorized positions and is a representative
group of knowledgeable and dedicated leaders in the Greater Hartford community. Officers for 2006 are Eugene Baten, president, Rita Ortiz, vice president, John Lobon, treasurer, Hedy Ayers,
secretary.
Financial Data As of December 31, 2005
the foundation’s portfolio was approximately $1,533,000. Under guidelines
adopted by the Knox Board, the annual budget is 5 percent of the average market
value of the endowment over the previous 12 quarters. Based on this formula,
the budget for 2006 is approximately $74,000, approximately $60,000 available
for Small Grants, the remainder for associated administrative expenses.
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