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Stark Community Foundation Receives $16.7M Gift, Largest Fund in Its History

Date posted: September 30, 2021

Stark Community Foundation Receives $16.7M Gift, Largest Fund in Its History

Stark Community Foundation announced today the Fred F. Silk Charitable Foundation has transitioned from a private non-operating foundation to a charitable fund of Stark Community Foundation, making the $16.7 million investment the largest fund established in SCF history.

When considering a succession plan, the trustees of the 31-year-old Fred F. Silk Charitable Foundation decided the best option was to transition to a charitable fund of Stark Community Foundation. The partnership with SCF provides several advantages, including continued philanthropic impact, a turnkey operation, an effective due diligence process and most importantly, a guaranteed legacy for Fred F. Silk and his lifelong support of the Stark County community.

“We are honored by the trust the co-trustees of the Silk Foundation have placed in Stark Community Foundation and feel privileged to continue the legacy of Fred Silk,” said Bridgette L. Neisel, vice president of advancement at Stark Community Foundation, who worked alongside the co-trustees to ensure a seamless transition and preserve Fred’s legacy and wishes. “Fred’s philanthropic spirit and impact in our community will continue for generations to come through Stark Community Foundation.”

Born in Massillon in 1911, Frederick “Fred” F. Silk valued education and went on to graduate from Washington High School and Ohio Wesleyan University. He served as co-owner of the Massillon Paper Company, a business his grandfather, John Silk, started in 1867. For many years, Fred served as a member of the Massillon City Club and board member of the Massillon Cemetery Association.

He created the Fred F. Silk Charitable Foundation in 1990 that would later receive the bulk of his estate when he passed away in 1995. Since then, his generosity has provided more than $13 million in vital support to charitable causes throughout Stark County. During last year alone, the foundation awarded more than $500,000 to local nonprofits.

Although the foundation’s name will change to Fred F. Silk Charitable Fund, its charitable focus will remain the same. The fund will continue to provide annual grantmaking support to a number of local universities and an array of organizations that directly benefit the Stark County community and its residents.

The Fred F. Silk Charitable Fund is now one of nearly 850 charitable funds that make up Stark Community Foundation and its more than $340 million in assets. Through strategic and diverse investing, the fund will continue to grow over time, allowing Fred’s philanthropic spirit to give back to the community forever.

For more information, contact Bridgette L. Neisel at 330-454-7992 or bneisel@starkcf.org.

About Stark Community Foundation
Stark Community Foundation is the community’s trusted partner in giving to nearly 850 individuals, families, businesses and organizations that have created charitable funds to impact the lives of others through the most effective philanthropy possible. Ranked in the top 10 percent of community foundations in the United States today, Stark Community Foundation is committed to serving donor needs and strategically addressing local issues. The Foundation and its family of donors have granted more than $200 million to nonprofits since 1963. Learn how you can simplify your giving and amplify your impact through our Center for Partners in Philanthropy at www.starkcf.org.

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