Preparing tomorrow's leaders, TODAY!

 July 2021

     The Somers Education Foundation’s 17th year was challenging yet successful. Though the usual fundraising results were down 60%, total assets grew 32%, ($211,095), primarily due to investment appreciation. This allowed SEF to grant $52,169. Having awarded a total of $575,000 since inception, while building an endowment/cash reserve of $868,097, SEF has had a total impact of $1,443,097! For perspective, SEF had $14,000 in funds and awarded $5000 in grants in its first year of existence. 

     All voting Board and ex-officio positions are filled. Michelle Bernier and William Kirkpatrick – agreed to serve for another 3-year term. Tara Moody was welcomed as a new 3-year Voting member. SEF lost a dear and valued member this year, Clifford Bordeaux, who passed away. Lauren Mazzoli will fill the remainder of his term. The Board approved a revision of its Bylaws, adding 3 Articles, codifying the financial rules of the Foundation.

     Courtesy of the talents of Scott Sutter, in conjunction with Ellington’s and Suffield’s Education Foundations, SEF benefited from a virtual 5k FUN’D Run in the fall. SEF also participated in and helped sponsor a Halloween Happening event with the PTO generating publicity and goodwill. The Geissler’s Receipts Program continues to be a mainstay of funding. SEF thanks the Nilsson Family for its generosity and ongoing sponsorship of this important program.  The Smile.amazon.com program showed steady growth. SEF was again the beneficiary of a very gracious donation of $10,000 from the Antonacci Family Foundation. A sixth Named Fund – The Mazzoli Family Fund- was created. 

SEF thanks the Mazzoli and Antonacci Families for their generosity and votes of confidence. 

     SEF is now 17 years old. One of its founding tenets was to build a permanent, sustaining endowment so grants could be awarded regardless of the economy and fundraising results. Applying “The Prudent Man” rule in 2015-16, the SEF utilized 4% from its endowment for the first time. This year certainly validated that concept. The endowment is working exactly as envisioned. 

     SEF’s goals are to continue, in the words of its first President Lou Bachetti, to “think big,” grow the endowment, increase community awareness, and provide greater funding for education opportunities for every student in the Somers Public School System. 

     Thank you for your generosity and support.

Paul Salva, President 

and the SEF Board