New & Notable
October 21, 2010
Long-Time Foundation Executive Accepts New Position
Area Community Foundations prepare for transition
Oil City, PA--- The Board of Trustees of the Bridge Builders Community Foundations announces today that Stephen Kosak, long-time foundation executive director, has accepted a position with PNC Bank, National Association.
Mr. Kosak, through his consulting company Kosak & Associates, has administered various trusts, foundations, and scholarships for Venango, Clarion, and Forest Counties for 35 years.
Mr. Kosak will take a position with PNC Bank, National Association administering local charitable trusts and foundations. He will begin his new position on January 1, 2011.
Mr. Kosak joined the Venango Area Community Foundation in 1989, and since has helped grow the Foundation from two funds with $500,000.00 in assets to over 80 funds with $5.5 million in assets. To capitalize on the growth of area foundations and their partnerships the Venango Area, Clarion County, and Forest County Community Foundations created an umbrella organization called the Bridge Builders Community Foundations in 2007.
Mr. Kosak says, “I am thankful to have worked with dedicated and community connected leaders and Community Foundation board members. I also appreciate all of the individuals and families that have created Funds in the Community Foundations. It is through their generosity that children, youth and families -- and our communities -- will benefit in the future."
Through Mr. Kosak’s transition from consultant to PNC employee, the board of directors of the Venango Area, Clarion County, and Forest County Community Foundations, and the trustees of Bridge Builders Community Foundations are intent on continuing to service the needs of the communities they serve.
Mr. Kosak adds, "I remain committed to growing and strengthening the Community Foundation. PNC will allow me to continue working for the Community Foundation in a supportive way, outside of my full-time responsibilities at PNC."
Board of Trustees President, Lynn McCaslin adds, "The boards of directors and board of trustees want to make the transition as seamless as possible and are committed to working diligently to meet the challenge presented by Mr. Kosak's eventual absence. Mr. Kosak shall continue as the executive director and assist in the transition in the immediate future."
To provide for this transition the Bridge Builders Community Foundations have hired Frank Gill of Gill Consulting to facilitate this process. Mr. Gill will work directly with a committee of foundation board members to plan for the transition through the implementation of an operational plan.
"This plan will be executed in a way that will assure all of the responsibilities and duties provided by Mr. Kosak will be accomplished so that the Community Foundations can continue to be a vital and growing asset to our communities."
213 Seneca Street ~ PO Box 374 ~ Oil City, PA 16301 ~ tel: 814-677-8687 ~ fax: 814-677-3404