In 2002, it became apparent that operating two separate television stations with the technology that existed had become much too costly. After reaching that conclusion, WNED chose to sell the second channel, Channel 23, to a private buyer. Under the guidance of a group of forward thinking WNYPBA trustees, it was decided that the proceeds of this sale would best be used by forming a permanent income stream to support the services of WNED for generations to come. The WNED Foundation was formed to accomplish this goal.
The assets of the Foundation are strategically invested in stocks, bonds, and other marketable securities under the watchful eye of an Investment Committee composed of a group of present and former organizational trustees. The income generated by these investments is used to support the activities of WNED.
WNED currently directs planned gifts (ie Bequests, Life Insurance, etc.) to the Foundation. By holding those gifts in the Foundation, we assure that an individual’s gift will continue to nourish the services that those individuals supported during their lifetimes. The contributions from our annual members are best used to support the daily operations of our services.
Legacy gifts are managed within the WNED Foundation by a Board comprised of members of WNED’s Board of Directors and a group of dedicated financial planners.
Gift assets are invested with the Foundation’s current endowment, and managed professionally. A conservative 5% draw annually on investment earnings adds cash to WNED’s operating revenues, and makes possible the high quality programming, continuous classical music and news, advances in technology, and innovations in education, that you have come to expect from your public broadcasting station.
For additional information, please contact Colleen Miller at 716.845.7031 or firstname.lastname@example.org.