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Updated 11/29/2010 08:43 PM

CNY Community Foundation ribbon cutting

By: Web Staff

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SYRACUSE, N.Y. -- A ribbon cutting ceremony marked the grand opening of the Central New York Philanthropy Center in Syracuse. Community leaders, including Mayor Stephanie Minor, helped celebrate the renovations.

The building, built in 1917 by the University Club of Syracuse, originally cost $100,000. Today, for $1 million, it's now home to the CNY Community Foundation. The foundation provides grants and leadership support to charitable organizations.

President and CEO Peter Dunn says the generosity of the community helps with their success.

"The Syracuse and Central New York communities are very giving communities. This helps accentuate the visibility of those that give and share and also those that are trying to address community issues and make positive social change," Dunn said.

The foundation provides more than $5 million annually in grants. Members are optimistic the new location will encourage more support from the community.