The Scioto Foundation has announced the creation of a new Acorn Fund, the George R. Barry Community Endowment, an unrestricted fund established by a Portsmouth native to benefit local causes.
A 1957 graduate of Portsmouth High School, Barry attended The Ohio State University and earned a degree in Accounting from its College of Business Administration in 1961. After graduating from the OSU School of Law in 1964, Barry joined the Cleveland law firm of Squire, Sanders & Dempsey, then a sizable firm of 75 lawyers, now Squire Patton Boggs with offices in 21 countries. He was a partner of the law firm until he retired in 2005.
Barry now lives most of the year in a relatively small golf course community in Naples, Florida. He still returns to the Cleveland area for a few months in the summer and usually sees his long-time Portsmouth friends once each year for an OSU football game.
“I have been aware of community foundations both in Cleveland and here in Naples,” Barry said, explaining why he chose to set up a fund at the Scioto Foundation. “The Cleveland Foundation was the first community foundation in the nation and is the fourth largest with assets exceeding $1.5B and annual grants over $80M. The Community Foundation of Collier County has over $85M in assets and makes annual grants in excess of $7M. Thus, each of the two other foundations that I might logically consider has considerably more assets than the Scioto Foundation and, in the case of the Collier County Foundation, is located in a very affluent
community with wide donor support. Therefore, it seems to me that my contribution to the Scioto Foundation potentially should have a greater impact to meet community needs going forward than either of those two conceivable alternatives that I might choose.”
“Although I do not live there anymore, I consider my roots to be in Portsmouth and the experience of growing up there in large part made me who I am today. I am able and feel an obligation to help others there in hopes of uplifting them to better, healthier and productive lives,” continued Barry. “I chose an Acorn Fund to get started in part because of the initial management fee waiver and just to see how the fund progresses over time. I wanted the fund’s objective to be broad based and unrestricted so that the trustees could direct distributions to meet the most pressing needs in the area from time to time. I would have no way of knowing what those needs might be, even now or, for sure, after I am no longer living. The term ‘community endowment’ seemed to me to best describe what I intend.”
“My father, also George R. Barry, was a 25 year resident of Portsmouth so I regard it as our fund to try to repay in a small way for the benefits we both enjoyed from living in Portsmouth. I also add that creating the fund will give me incentives to make further contributions to it,” Barry concluded.
Additions to the fund may be made by alumnae, friends, family and supporters in the form of gifts of cash, securities or property at any time. Further information about the George R. Barry Community Endowment or other planned giving opportunities may be obtained by contacting Kim Cutlip or Patty Tennant at the Scioto Foundation office, (740) 354-4612 or by visiting the SF website at www.sciotofoundation.org.