Bill & Patti live in a beautiful craftsman home in Altadena with their two dogs, four birds, and artwork and collectibles that reflect their varied interests. Bill, now retired from a family business, Gordon Brush Manufacturing Co., enjoys spending his time creating works of art through wood turning while Patti, a former music teacher and choral director, enjoys singing with the Sweet Adelines. They also devote time to local nonprofits such as PFLAG (an organization for parents, families, friends, and allies united with people who are lesbian, gay, bisexual, transgender, or queer) and NAMI (which provides support to families dealing with mental illness).
Bill and Patti were referred to PCF by their attorney, Jim Miller, while they were working on their estate plan. They wanted to provide support for causes they care about through a bequest. After learning more about PCF’s local grantmaking programs, they created the Bill & Patti Loitz Endowment. This named endowment will also be the beneficiary of a bequest through their trust.
Patti and Bill raised two children in their home of over 20 years, and are now empty nesters. Patti loves Altadena – the trees, the diversity, and its local flavor. She says that helping her community through this legacy gift is their “mitzvah,” a way in which they can acknowledge the blessings in their lives. Bill likes the idea that PCF invests and endows the money and that the fund will keep on giving back.
The Power of Endowment
Endowments are the cornerstone of PCF’s mission to build hometown legacies. The corpus of each endowed fund is invested with PCF’s portfolio for long-term growth. Each year, the endowments generate the funds that support PCF’s local grantmaking, which enriches the arts community, protects our environment, provides health care and critical social services, and bolsters public education in Pasadena. Endowments are permanent legacies for our community; these funds will continue to grow and provide philanthropic support forever.