Lehigh Valley arts organizations receive $115,000 in grants from BB&T Economic Growth Fund
Donations will support arts and service organizations and capital improvements
LEHIGH VALLEY, Pa. January 24, 2018—The Lehigh Valley Community Foundation and BB&T announced $115,000 in grants to five Lehigh Valley arts organizations from the BB&T Economic Growth Fund at the Lehigh Valley Community Foundation. The donations will support capital improvements and programs at the area nonprofits.
“BB&T has a long history of supporting our local arts and cultural communities,” said BB&T Community Banking Group Executive Scott V. Fainor. “We are proud to provide funding for capital improvements at these organizations as they play a significant role in supporting economic development in the Lehigh Valley.”
“We are pleased that Scott Fainor and the leadership of the BB&T Economic Growth Fund is making these important investments in the Lehigh Valley,” said Bernie Story, president and CEO of the Lehigh Valley Community Foundation. “We are delighted to have partnered with BB&T in making these grants that will have an impact beyond the individual organizations.”
In conjunction with the BB&T/National Penn merger, $5 million was donated to two local foundations with the Lehigh Valley Community Foundation receiving $2.5 million to establish the BB&T Economic Growth Fund. The fund awards grants to initiatives that will improve the standard of living and economic health of the Lehigh Valley through business attraction and incubation, industrial growth and creation of sustainable and thriving wage jobs.
During the first phase of the fund in June of 2017, $1.45 million from the BB&T Economic Growth Fund at the Lehigh Valley Community Foundation was distributed to 8 organizations and 5 colleges to support manufacturing, create job pipelines, reduce blight and spur economic development through various additional initiatives.
The organizations receiving funding in this cycle in support of arts and culture include:
- ArtsQuest - capital improvements...............................................$25,000
- Bach Choir of Bethlehem - Bach Choir Festival..........................$10,000
- Civic Theatre of Allentown –capital improvements.....................$30,000
- Historic Bethlehem Partnership, Inc. – capital improvement....$25,000
- State Theatre for the Arts, Inc. – capital improvements..............$25,000
BB&T is one of the largest financial services holding companies in the U.S. with $220.3 billion in assets and market capitalization of $37.0 billion as of Sept. 30, 2017. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates over 2,100 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.
About Lehigh Valley Community Foundation
For five decades, the Lehigh Valley Community Foundation has helped donors with their charitable contributions with a simple, powerful, and highly personalized approach. We are a philanthropic hub for the Lehigh Valley—we know and navigate the landscape of the Lehigh Valley’s community needs to connect people who care to causes that matter. It is our mission to improve the quality of life in our region, to encourage collaboration among area philanthropists, and to serve as a source of information and expertise regarding charitable giving. Learn more by visiting us on the web at www.LVCFoundation.org.
See the photos on the LVC Flickr page at: https://www.flickr.com/photos/lvcf/albums/72157690926152931