Longtime Okeechobee resident Frank Altobello established a charitable fund at the Community Foundation for Palm Beach and Martin Counties in his estate plan to benefit nonprofit organizations in or serving Okeechobee County. Recently, $76,500 was distributed from the fund to the following organizations that completed the application and met the requirements:
- Hospice of Okeechobee – $15,000
- Indian River State College Foundation – $20,500
- Martha’s House – $15,000
- Real Life Children’s Ranch – $26,000
Frank Irby, Susanne Clemons and Sam Smith are advisors to the Altobello Donor Advised Fund at the Community Foundation. The advisors oversee the selection and approval of nonprofit applicants. The Altobello Donor Advised Fund is considered a legacy fund, meaning only the investment earnings from the fund are distributed each year.
Francis Xavier “Frank” Altobello, Jr., passed away October 4, 2015. He lived in Okeechobee, Florida since 1949 with his wife and was very active in the nonprofit community. He is survived by his nieces, Joella Altobello Baird and Dianne Altobello; and nephews, Frank Altobello, Thomas Altobello and Joseph Altobello.
For more information on establishing a charitable fund at the Community Foundation, please call 561-659-6800 or visit www.cfpbmc.fudwaca.com.