BINGHAMTON, NY – The United Way of Broome County is the Greater Binghamton Chamber Business of the Week.
The United Way’s mission is to fight for the health, education and financial stability of every person in the county.
Originally established as the Binghamton Community Fund in 1918, it became a part of the United Way in 1973.
Roughly 5 years ago, it switched to a community impact model, allowing all non-profits in the area to apply for funds.
Executive Director LoriAnne Welch says that with the help of long-term investments, all money raised locally is allocated locally under the direction of local people.
“The yields from those endowment funds, a portion of those pay the administrative costs of the organization. So, every dollar that is donated, we are able to put back into programs and projects. That’s a huge part of philanthropic giving because you want to know where your dollars are going,” says Welch.
The United Way is currently in the midst of its annual campaign, which runs 10 months out of the year.
This year’s goal is just over 1.8 million dollars.
However, the United Way has already received 3 million dollars worth of applications from 68 different organizations.
The campaign ends on June 30th and the United Way is over 84 percent of the way toward its goal.