By Rose S. Prinzi
Type the text hereAlthough religious organizations and churches rank high on the list of individual charitable donations, there are often no funds or foundations to turn to if a church or religious organization is in need of money. A notable exception to this is the Karl Peterson Fund.
The Karl Peterson Fund is administered by the Chautauqua Region Community Foundation. It is designed to address the various needs of local churches and religious bodies.
The original Karl Peterson Fund was created in 1952 as the Crescent Foundation. It was named after the Crescent Tool Company. However, in 1961, family trustees renamed this fund in honor of the company’s founder – Karl Peterson.
In 1992, the Karl Peterson Foundation, after 40 years of separate existence, became a permanent part of the Chautauqua Region Community Foundation. Today, the Foundation continues to honor the intent of the original fund and provides financial assistance annually to religious and non-religious nonprofit area organizations.
Karl Peterson was an avid inventor and self-made man. He had a natural gift for mechanics and was quick to develop new ideas. In 1902, Mr. Peterson founded the Crescent Tool Company and, five years later, he incorporated it. The company soon became recognized as a maker of quality adjustable wrenches, and the notoriety of “crescent” tools grew.
Crescent tools were with Charles Lindbergh when he flew across the Atlantic Ocean, as well as with Explorer Richard E. Byrd when he departed for the Antarctic. In addition, during World War II, the Crescent Tool Company was awarded the coveted Army Navy “E” pennant three times for outstanding production and quality product.
The notoriety of Karl Peterson continues today. This year, through his fund, the Chautauqua Region Community Foundation reviewed 39 grant requests and awarded a total of $30,989 to area organizations.
One of this year’s recipients of the Peterson Fund was the Falconer Wesleyan Church. As Mr. Peterson’s young company was growing in the early 20th century, so, too, was the religious community of our area.
On a bright, sunny day in May of 1905, people gathered to dedicate the Lynndon Park Wesleyan Methodist Church building as a place of worship and outreach. This marked the beginning of the Falconer Wesleyan Church who, in 1924, celebrated the dedication of their present building located at 126 W. James Street in the Village of Falconer.
Through their “Operation Renew” project, developed to address the many needed repairs and upgrade on their original facility, the Falconer Wesleyan Church continues to serve the area. They have been able to create a place of worship that is warm and inviting to their congregation and guests. Through the assistance of the Karl Peterson Fund, the Falconer Wesleyan Church has been able to paint their sanctuary ceiling, install new light fixtures and refurbish their worn and scratched pews.
As with all funds, the Foundation performs their due diligence to comply with the original intent of each fund created and endowed. If you are interested in learning more about the Karl Peterson Fund or Chautauqua Region Community Foundation, call 661-3390 or go to www.crcfonline .org.