The Bay Park Conservancy Reaches Another Fundraising Milestone
An additional $5 million in private philanthropy triggers another $1 million match from The Patterson Foundation.
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Sarasota, Fla. – January 9, 2024 – The Bay Park Conservancy (BPC), the non-profit organization responsible for designing, developing, operating and programming a signature public park on 53 acres of City-owned land along Sarasota Bay, has reached another significant milestone. Thanks to generous donors, local businesses and other friends in the community, The Bay has raised a third $5 million from private sources, triggering a third $1 million match from The Patterson Foundation’s (TPF’s) current challenge match – resulting in a total cumulative TPF gift of more than $8 million to date.
This additional match marks the third major milestone in The Patterson Foundation’s challenge for the $24 million campaign announced in July 2021, which has now generated over $15 million from private philanthropic, community sources, and matches. All funds will be used to operate, maintain and program the first 10 acres of The Bay which has been visited by more than 300,000 park guests.
“We live in a region where the heart of generosity beats vibrantly, and indeed, The Bay has been the beneficiary and exemplar of excellent stewardship. Over the last five years, generous donors have enabled ‘one park for all’ to become a reality,” says Debra Jacobs, President and CEO of The Patterson Foundation.
“From the beginning of The Bay, The Patterson Foundation has been supportive, encouraging and generous,” says AG Lafley, The Bay Park Conservancy CEO. “Debra Jacobs has been inspiring and steadfast in her support of The Bay Park Conservancy and The Bay Park.”
In 2019-21, The Patterson Foundation generously donated $5 million to support the initial $20 million challenge campaign to start up The Bay Park. In July 2021, The Patterson Foundation announced its continued support for The Bay by committing up to an additional $4 million in matching funds to catalyze private donations for developing and operating the first phase of the park. Each time private philanthropy donates $5 million to The Bay through 2024, The Patterson Foundation will provide a $1 million match, up to a total contribution of $4 million. TPF’s contribution coupled with $20 million in private philanthropy results in a total investment of $24 million to The Bay.
This current challenge match follows a previous $5 million challenge match provided by The Patterson Foundation which donors achieved in July 2022.
The Bay Park Conservancy is well on its way of raising the next $5 million from philanthropists to earn the fourth and final $1 million The Patterson Foundation match by the end of 2024. Every dollar and every donor matters toward achieving this next important fundraising milestone. Jacobs adds, “…there is still one more $1 million on the table, so I encourage you to be part of donating the next $5 million to make that match happen.”
