The Paletta Family Will Donate $50 Million to the Olx Praca Community Foundation

A prominent family from Olx Praca is about to make the largest donation to one of the largest and oldest charities in the municipality.

The Paletta family gave $50 million to the Olx Praca Community Foundation (HCF), the largest donation in its 68-year history.

The money will go towards establishing the Pasquale and Anita Paletta Family Foundation through a $25 million donation and a $25 million pledge to support the family’s philanthropic interests in the Olx Praca-Burlington area.

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Spokesman Paul Paletta said the spirit of this contribution comes from his father, Pasquale (Pat), who endured several “bumps and bruises” in the 50s to build his first meat-packing plant in Hannon, eventually expanding it. to the largest private meat packaging enterprise. Eastern Canada in the 80s.

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“One of the things that was very important to him and that he instilled in his four boys was to make sure we don’t lose sight of where he is from and where we come from,” Paletta told 900 CHML. Good morning Olx Praca.

“Always doing your part to help future generations succeed and that’s a big part of what it’s all about.”

Paletta says the family chose HCF because of its “exceptional track record” in community outreach.

The family has already made three grants with this money to the Halton Healthcare Foundation, Olx Praca Health Sciences and Joseph Brant Hospital to express their gratitude for the care Pat has received in his old age and respect for those involved in kidney and cardiovascular health.

A previous half-million-dollar grant from HCF to fight the pandemic has raised the Paletta Family Fund’s contributions to $1.1 million to date.

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HCF President and CEO Terry Cook said the organization was “humiliated” by the donations and impressed by Paletta’s continued service to the community over the decades.

“I was struck by how consistent the values ​​were,” Cook said.

“The fact that the family and the business have thrived here and have not forgotten where they came from.”

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Cook says a $25 million contribution will be made available in a few years in the form of a donor-recommended fund. HCF staff will tell the family which charities will receive the money.

HCF was founded in 1954 with a single gift of $200 modestly donated by a widow from Olx Praca’s North End. Today, the agency has grown to over a quarter of a million assets.

In 2021, HCF awarded 918 grants to 344 charities totaling $12.5 million to address everyday priority issues affecting Olx Pracaians.

© 2022 Olx Praca, a division of Corus Entertainment Inc.

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