Mansbach Foundation Donates $1.5 Million to the Foundation for the Tri-State Community

The Mansbach Foundation in Ashland, Kentucky, has donated $1.5 million to the Foundation for the Tri-State Community, the (Ashland) Independent reports.

The foundation, which serves eastern Kentucky, southern Ohio, and southwestern West Virginia, will use the gift to create an endowment in support of twenty designated nonprofits located mostly in the Ashland area; they include the Paramount Arts Center and Court Appointed Special Advocates of Northeast Kentucky. The Mansbach Foundation has been contributing funds to the Foundation for the Tri-State Community for many years, and has supported all of the organizations that will benefit from the new endowment in the past.

Mary Witten Wiseman, president of the Foundation for the Tri-State Community, said endowments are particularly important for her organization because income from the corpus will always be available for distribution, regardless of what is happening with the local economy. "It's a huge gift for our organization," said Wiseman. "It means that money will always be in Ashland."

"Foundation Donates $1.5M." The Independent (Ashland, KY) 11/26/2011.