Thanks to a new chairman and a $500,000 seed grant from the Dyson Foundation, the recently-formed Ulster County Community Foundation is well on its way to becoming a focused philanthropic force that will soon be able to raise funds and direct donations to the county's nonprofit community.

The Ulster County Community Foundation will benefit from a Dyson Foundation grant, awarded to and administered through the Community Foundation of Dutchess County, that will assist with the development of this exciting new community resource for not only donors, but nonprofits who serve our area.

Abel Garraghan, President of Heritagenergy, has also agreed to serve as chairman of the advisory board helping to establish local leadership for the Ulster County Community Foundation, which last March opened an office in space donated by the Ulster Savings Bank at 280 Wall Street, Kingston.

"With the backing from our local community leaders, combined with the generous assistance from Ulster Savings Bank and the support from this grant from the Dyson Foundation we are very optimistic and anticipate growth of an endowment and donor funds that will award grants to very worthy service organizations throughout Ulster County," said Garraghan. "We are presently working to identify and engage other local leaders and volunteers throughout Ulster to complete the advisory board."

Organizers say the composition of the advisory board--which will be comprised of business, nonprofit and public service leaders representing communities throughout Ulster County--will be critical. Their task will be to grow philanthropy in Ulster County, raise money, establish new endowed funds and make grants to make the quality of life in Ulster County even better.

Marjorie Rovereto, President and CEO of Ulster Savings Bank, is pleased with the idea of a community foundation that is "by and for" Ulster County. "The Ulster County Community Foundation is here as another great resource for nonprofits, complementing their work and helping to address community needs."

In order to reduce overhead costs and economically create this new resource, the Ulster County Community Foundation will share administrative staff and back office functions with the Community Foundation of Dutchess County, which will receive and administer the Dyson Foundation grant on behalf of the Ulster County Community Foundation over a five-year start up period running from July, 2007 through June, 2012.

"The idea is to nurture and develop the Ulster County Community Foundation over the next few years and focus on building its endowment from local sources and giving to local causes," said Andrea Reynolds, president and CEO of the Community Foundation of Dutchess County, which was established in 1969, has assets of more than $30.5 million and administers more than 350 funds. Last year the fund provided more than $1.2 million in grants and scholarships throughout the region. Reynolds will also serve as president and CEO of the Ulster County Community Foundation.

In addition to providing funding to a broad spectrum of nonprofits serving the residents of the Mid-Hudson Valley, the Millbrook-based Dyson Foundation supports efforts that strengthen and encourage charitable giving within the region. A private, family-directed grant making foundation established in 1957, the Foundation is led by Robert R. Dyson, who has served as its president since 2000. The Dyson Foundation's assets stand at approximately $337 million and, last year, it awarded more than $18.4 million in grants.

For more information about the Ulster County Community Foundation, to establish a fund or to make a contribution please visit the Foundation's Web site at www.uccfny.org or contact Andrea Reynolds , President and CEO at 845-338-2535.