Local foundation donates $36K+ to Family Y through endowment fund

Local foundation donates $36K+ to Family Y through endowment fund

(The following is a press release from The Greater PineBelt Community Foundation.)

Hattiesburg, MS. – The Greater PineBelt Community Foundation gave the Family YMCA of Southeast Mississippi a donation of $36,134 through the Alex Katrishin Endowment fund. This contribution will help the Family Y continue their mission of meeting the fitness and spiritual needs of the community. The check presentation will take place on April 28th at 8:00 a.m. at the Family Y on Veterans Memorial Drive in Hattiesburg.

The donation is part of an annual disbursement from an endowment fund established by Alex Katrishin in 2000. Katrishin, a late Hattiesburg resident, left the bulk of his estate to the Family YMCA of Southeast Mississippi in an endowed account with the Greater PineBelt Community Foundation. Since the endowment's inception, the Greater PineBelt Community Foundation has paid out nearly $600,000 to the Family Y.  

"An endowment can act as an 'income stabilizer' and increase financial stability for the future of any nonprofit organization," said Theresa Erickson, executive director of the PineBelt Community Foundation. "This fund was set up and designated for The Family Y.  It will give a gift to the Family Y forever; therefore, it is a stable and predictable source of income for generations and generations to come.  In addition, anyone who loves the Family Y can give to this endowment to give a gift that will always support the organization they are passionate about."   

The Family Y was especially important to Katrishin. When he was a young man he was disabled in World War II and found a home at a YMCA in California. He made a living by working various jobs and building his saving which he later used to purchase Exxon stock. Katrishin capitalized on those stock holdings, growing a small fortune. He married his college sweetheart and the couple moved to Hattiesburg. 

"All communities need more giving individuals like Alex Katrishin." said Dan Henley, the executive director of the Hattiesburg Family Y, "Financial gifts to nonprofits ensure that organizations like the Family Y will be an integral part of the community, serving the needs of current and future generations."

The Greater PineBelt Community Foundation is a 501(c)(3) nonprofit organization that provides the vehicle for people to give forever, via endowments, to the charitable organization they are passionate about.   For more information about the Greater Pine Belt Community Foundation, please call (601) 583-6180 and visit www.PineBeltFoundation.org.