Harford Retirement Planners Launches Endowment
Maryland Firm's New Fund To Help Put Used Furniture in New Hands
By: Harford Retirement Planners
The Harford Retirement Planners Community Fund supports nonprofit organizations in Harford County, where HARP is based.
"Not everyone can benefit from our investing and financial advice so we wanted to do something to help those whose portfolio may not qualify yet for our help," said Joseph C. Conroy, the firm's founder and a Certified Financial Planner.
Conroy and Jennifer Farrell, the community foundation's executive director, attended C. Milton Wright High School together. That association helped propel his company to take action now.
HARP's four employees plan to hold fundraisers to boost the endowment.
The firm also intends to help its philanthropic-
With the structure of the HARP endowment, the fund is invested and 4% of its value each year will be distributed in perpetuity to charitable causes in the county.
Part of this year's HARP endowment allocation will go to Found in Faith Ministries, which transports furniture from people who are discarding it to those in need in the county. More than 500 beds, 280 dining tables, 494 dressers and 513 sofas have been moved to new owners since 2016, according to the organization's website.
You don't have to have millions of dollars to create an endowment fund," Conroy said. "Our local community has been so supportive of our business; we wanted to do something to give back now and in the future."
Farrell said a popular misconception among people considering philanthropy is that they must invest huge amounts of money. "Much smaller amounts can make a big difference in the community," Farrell said.
The Community Foundation of Harford County was launched in 2007 to work with the community to enhance the quality of life in Harford County in perpetuity. CFHC works with individuals and businesses to formalize and deepen their philanthropy in the county.
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Page Updated Last on: Oct 06, 2022