The State University College at Oneonta Foundation has been honored with a four-star "exceptional" rating by Charity Navigator, the leading independent charity evaluator in America, a media release said.
The rating is based on the foundation's commitment to sound fiscal management and its ability to deliver on its mission, the release from the State University College at Oneonta said.
Charity Navigator President Ken Berger praised the foundation's ability to "efficiently manage and grow its finances."
"Approximately a quarter of the charities we evaluate have received our highest rating, indicating that State University College at Oneonta Foundation Corporation executes its mission in a fiscally responsible way, and outperforms most other charities in America," Berger said in a letter to the foundation.
Charity Navigator, which evaluates 10 times more charities than any similar organization, has been recognized for its work by Forbes, Business Week and Kiplinger's, the release said.
"This award further illustrates the great care we take in work on behalf of our college and our students," said Paul J. Adamo, executive director of the foundation and vice president for college advancement at SUNY Oneonta. "Our donors recognize that charitable investments in the foundation can provide life-altering opportunities for our students, our communities, and the future we share."
Charity Navigator's full evaluation of the College at Oneonta Foundation is available at www.charitynavigator.org/index.cfm?bay=search.summary&orgid=12650.
The foundation's mission is to raise and administer gifts and grants to enhance the academic status of SUNY Oneonta through endowment, scholarships and institutional programs, according to its website.
The College at Oneonta's Foundation endowment and assets are $34 million, up from $16.3 million in 2000-01, Adamo said.
Wilber reports
on earnings, dividends
The Wilber Corp., parent company of Wilber National Bank, had net income of $1.764 million and basic and diluted earnings of 16 cents per share for the first quarter of 2010, a report issued Friday said.
By comparison, Wilber's net income and basic and diluted earnings per share for the three-month period in 2009 were $1.073 million and 10 cents respectively, which represents a 64.4 percent increase in net income and a 60 percent increase in earnings per share.
"We are pleased with the improvement in earnings, particularly since it was driven by our core revenue stream of net interest income," Douglas C. Gulotty, Wilber president and chief executive officer, said in a prepared statement. "We also required $400,000 less in provision for loan losses as compared to the first quarter of 2009."
The provision for loan losses for the first quarter of 2010 was $800,000, down from $1.2 million for the comparable 2009 period, a decrease of $400,000 or 33.3 percent, the report said.
Wilber introduced a dividend reinvestment and direct stock purchase plan in the third quarter of 2009 and has since added 201,750 additional shares of common stock, the report said.
Also, at its Friday board meeting, Wilber declared a quarterly dividend of 6 cents per share payable May 28 to shareholders of record May 13. The payment will be the 109th consecutive quarterly dividend paid by the company.
The Wilber Corp. is a single bank holding company headquartered in Oneonta. The corporation's common stock trades under the symbol "GIW" on the NYSE Amex (formerly the American Stock Exchange), and Tuesday the stock closed at $6.53, down 18 cents or 2.68 percent.
State offers online calculator
The state Department of Labor has online help for business owners curious about the financial benefits of hiring unemployed workers.
State Labor Commissioner Colleen C. Gardner has introduced the online HIRE Act calculator, which can calculate benefits at the click of a mouse, a media release said.
The calculator will help employers take advantage of the federal government's Hiring Incentives to Restore Employment Act, which was signed into law by President Barack Obama in March.
The calculator is available at www.labor.ny.gov/HireActCalculator.shtm.
Under the HIRE Act, employers who hire New Yorkers out of work for 60 days or more this year (after Feb. 3 and before Jan. 1) may qualify for a 6.2 percent payroll tax incentive, the state release said. In addition, for each worker retained for at least a year, businesses may claim an additional tax credit up to $1,000 if that individual is on the payroll for 52 weeks.
Cobleskill firm ranks five stars
Morningstar, a provider of independent investment research, has given the FAM Value Fund and FAM Equity-Income Fund an overall 4-star mutual fund rating, according to the Cobleskill firm.
For its 10-year performance, both FAM Funds received Morningstar's 5-star rating, which is the highest possible rating, a media release from the firm said. Morningstar's rating system is a quantitative measure that's based on past returns and other data, the release issued in April said.
Fenimore Asset Management is an independent investment advisory firm in Cobleskill, and it manages individual and institutional portfolios and two mutual funds.
To suggest a business story, announce a new business or changes to an existing one, e-mail details to drichardson@thedailystar.com or call Denise Richardson at 432-1000 or (800) 721-1000, ext. 213.
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Local News
Business Beat: SUNY Oneonta earns four-star Charity Navigator rating
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- Local News
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Judge upholds Dryden gas drilling ban
COOPERSTOWN - Advocates for home rule in setting energy policy won the first round of a major battle with the natural gas industry Tuesday when state Supreme Court Judge Phillip Rumsey upheld the town of Dryden's law that zones out drilling operations.
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Oneonta council OKs hiring of 5 officers
ONEONTA _ The Common Council on Tuesday approved the hiring of five police officers, but not without dissent.
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Woman held at knifepoint
COBLESKILL -- Village police, after a tense standoff, rescued a woman who was being held at knifepoint Sunday night by a 23-year-old local man, authorities said Tuesday.
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Proposed gas pipeline could run through Schoharie, Delaware
COOPERSTOWN -- Cabot Oil & Gas Corp., one of the companies involved in hydrofracking operations in Pennsylvania, announced Tuesday that it is teaming up with a second company to run a large-diameter natural gas pipeline to Schoharie County from Susquehanna County, Pa.
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Crime briefs
A Springfield man was sentenced Feb. 15 in Otsego County Court, following a guilty plea last month on a burglary case, court officials said.
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'Land Ethic' documentary to be screened Friday
A free screening open to the public of the documentary film "Green Fire: Aldo Leopold and a Land Ethic for Our Time" will be at 7 p.m. Friday in the Instructional Resource Center on West Dormitory Road at SUNY Oneonta.
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Owner: Softball camp will open again this summer
COOPERSTOWN -- The owner of the Diamond Dreams of Cooperstown softball camp, which has been enmeshed in court battle initiated by its neighbors, said Tuesday he is confident the business will open again this summer despite a recent legal setback.
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Teen receives Eagle Scout rank with ramp project
Nathan Curtin of Sidney Center is certain he would not have attained the rank of Eagle Scout with BSA Troop 99 of Sidney if it had not been for his parents _ and the parents of fellow scouts.
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Water quality meeting set
The Otsego County Water Quality Coordinating Committee meeting scheduled for Thursday will feature presentations by area businesses with expertise in water quality improvement and protection projects, a media release announced Thursday.
- Tuesday, February 21, 2012
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Schumer: Flood relief held up
SCHOHARIE -- The federal spigot for disaster aid that could spark sorely needed business growth has become gummed up by congressional inaction, Sen. Chuck Schumer, D-NY, said Monday.
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Local artist to show Gettysburg images in exhibit
A local artist will share images of Gettysburg in an exhibition at the Fenimore Art Museum in Cooperstown starting this spring.
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Court: Town exceeded authority in granting permit to baseball camp
COOPERSTOWN -- A youth baseball camp has been caught off base -- with a state appellate court ruling that officials in a Herkimer County town exceeded their authority when they issued it a building permit.
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Fly Creek man sues over road abandonment
COOPERSTOWN -- A Fly Creek resident who has obtained a building permit for his property off Honey Joe Road in the town of Otsego has initiated a lawsuit against the municipality after local officials declared the street abandoned.
- Monday, February 20, 2012
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Polar Bear Jump leaps to record donations this year
There may have been fewer people than in the past few years taking the ultimate plunge into icy-cold water Saturday during the Goodyear Polar Bear Jump, but more money was raised than ever.
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Teen honored for giving students reality check on tobacco
Samantha Johnson at 17 already has award-winning experience fighting for a cause: Just say no to tobacco and smoking.
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Supermarkets to again support annual food drive
Two supermarkets again will support the annual 6th Ward Athletic Club Ani P. Colone Food Drive, which starts Wednesday, organizers said.
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News Briefs
Internship fair to be Wednesday A new internship coordinator at the State University College at Oneonta in collaboration with Hartwick College will present a "Summer Opportunities Fair" from 1 to 4 p.m. Wednesday in the Hunt Union Ballroom at SUNY Oneonta.
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Winning regional O.M. teams advance to state competition
Students from across the region met in Sidney Center on Saturday to compete in the Region 13 Odyssey of the Mind tournament.
- Saturday, February 18, 2012
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Area drivers face rising gas prices
Gasoline prices are on the rise again, making motorists dig deeper into their pockets to pay the total on the pump.
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On the Bright Side: Cornell helps area school's project come to fruition
Students at Roxbury Central School are on their way to becoming self-sufficient locavores, at least when they're at school.
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Judge upholds Dryden gas drilling ban
