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The Paletta family invests $ 50 million in the Hamilton Community Foundation

A well-known Hamilton-based family will make the largest donation to one of the largest and oldest charities in the municipality.

The Paletta family has allocated a $ 50 million donation to theHamilton Community Foundation(HCF). This represents the largest donation ever made in 68 years of history.

This fund will establish the Pasquale&Anita Paletta Family Fund through a $ 25 million donation to support family philanthropy throughout the Hamilton-Burlington region and a $ 25 million legacy pledge. ..

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Spokesperson Paul Paletta took some "hump and bruise" to build the first meat packaging factory in Hanon in the 1950s, and eventually in eastern Canada. It comes from his father Pasquale (Pat), who has expanded into the largest private meat packaging company. in her 80's.

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"One of the most important things for him is that he taught four boys. , It was to make sure we didn't. I lost track of where he came from and where we came from, "Paletta told the 900CHMLGood Morning Hamilton. rice field.

"Always play our role in helping future generations succeed, and that's a big part of what this is."

Paletta is a family Says he chose HCF because of his "extraordinary reputation" when working with the community.

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The family has already provided three grants to the Halfton Healthcare Foundation, Hamilton Health Sciences and Joseph Brant Hospital. It reflects Pat's appreciation for the care he received as he grew older and his respect for those who deal with kidney and cardiovascular health.

With the previous $ 500,000 grant for the HCF's pandemic response, the recent Paletta Family Fund donation is now $ 1.1 million.

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HCF President and CEO Terry Cooke said the organization was "humility" through donations and to the Paletta community. He said he was impressed with the ongoing service. ..

“I was amazed at the consistency of the values,” says Cooke.

"The fact that family and business were doing well here and didn't forget where they came from."

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Cook says pledge $ 25 million is a donor-advised fund It will be offered in form for many years. HCF staff will advise families on which charity will receive the money.

HCF was founded in 1954 through a single $ 200 gift moderately donated by the widow of North End Hamilton. Agencies are currently growing to order over 250,000 assets.

In 2021, the HCF issued 918 grants totaling $ 12.5 million to 344 charities to address everyday priorities affecting the Hamiltonian.

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