Providence Foundation sets new goals

The Providence Foundation turned in another strong financial performance for the fiscal year ended Sept. 30, with an increase in unrestricted assets of $29,452 – on total income of $312,548 – for a 44.8-percent increase in unrestricted asset growth over fiscal year 2005.
The foundation announced the results at its annual meeting Jan. 10 at The Westin Providence, where Robert V. Gilbane, president and CEO of Gilbane Development Co., laid out the group’s agenda for the coming year.
Key among the eight initiatives designated for action in 2007-08 were the need to: develop a cohesive development strategy that brings the city’s universities and hospitals into concert and helps diversify the business base in downtown Providence; create improved transportation and parking in and around the downtown; and partner with civil and business interests to create a master plan for the Interstate 195 land reclamation project.
Elected for one-year terms were Gilbane, as chairman; Roger Mandle, president of Rhode Island School of Design, as vice-chairman; Frederick K. Butler, vice president and corporate secretary of Textron Inc., as treasurer; and E. Jerome Batty, a partner with Hinckley, Allen & Snyder, as secretary.
In addition, 15 trustees were elected for terms of one to three years.

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