Corporate Giving, Local Impact: How One Company Turned Purpose into Action
At Out of the Cold, a Centre County homeless shelter, care doesn’t come in one-size-fits-all. It might look like a warm meal shared across a folding table, a van ride to a job interview, or a caseworker sitting beside a guest, helping them navigate the next step in a long journey. For one guest who had been struggling with being unhoused, it was as simple and essential as supportive transportation that got her to work, day after day, until she could afford a car.
These small moments don’t make headlines, but they quietly mark the path from crisis to stability. Thanks to Centre Foundation’s partnership with Investment Research Partners, LLC, there’s now more fuel, both literally and figuratively, powering that journey forward, one step at a time.
Beginning in 2022, Investment Research Partners established a designated endowment fund at Centre Foundation to benefit Out of the Cold: Centre County.
Their $5,000 gift was matched as part of Centre Foundation’s one-time 40-for-40 Campaign, a special initiative in celebration of the Foundation’s 40th anniversary. This limited-time match opportunity doubled their impact, launching the Investment Research Partners Fund for Out of the Cold with a $10,000 starting balance.
Designated Funds like this one are created to provide long-term, reliable funding for one specific nonprofit. They are invested to grow over time and distribute annual grants to help maintain a nonprofit’s essential services and community programs.
It’s a way to provide steady, ongoing support year after year, helping nonprofits like Out of the Cold plan ahead and meet needs without worrying where the next round of funding will come from. Designated funds created by businesses like Investment Research Partners offer something nonprofits deeply need but rarely receive dependable funding that lasts for generations.
“It’s not flashy, but it’s what keeps everything running,” said Jordan Veneziano, Executive Director of Out of the Cold. “These are the basics that allow us to serve our guests with dignity and consistency. The funding doesn’t solve every problem, but it helps us do our part in a bigger ecosystem of care.”
Out of the Cold is Centre County’s only low-barrier shelter, open 24/7 in its now permanent home on South Atherton Street in downtown State College. It serves people experiencing homelessness with wraparound support, individual case management, and access to resources that address everything from health and transportation to housing and job readiness. While many congregations and volunteers provide meals and supplies to the shelter, they rely on a diverse array of charitable funding to remain sustainable. In fact, the financial sustainability of many nonprofits like this shelter depends on a patchwork of grants, community donations, and increasingly—corporate partnerships.
“Building enduring portfolios that stand the test of time is what we strive to do for our clients—and it’s the same goal the Centre Foundation Investment Committee has for the funds entrusted to us by donors,” said Derek Varner, CFA, Partner at Investment Research Partners, LLC and Board Member / Investment Committee Chair at Centre Foundation. “Establishing our own endowment for an important community organization like Out of the Cold was a natural fit. We deeply care about where we live and work, and this fund should be a testament to that.”
That’s exactly the kind of connection Centre Foundation is working to foster more broadly.
“Creating designated funds through the Foundation allows businesses to focus their charitable giving where it matters most, while we take care of the administrative and strategic side,” said Molly Kunkel, President and CEO at Centre Foundation. “It’s a way to turn corporate values into real community impact.”
Designated funds offer corporate donors:
- Flexibility in how and where they give
- Transparency in how funds are managed and distributed
- Visibility as community-minded partners
- Efficiency, by leveraging Centre Foundation’s deep knowledge of local nonprofits
“We love that it’s not just a one-time gift,” said Jordan Veneziano. “It’s a steady, reliable stream that helps us plan ahead and focus on care, not crisis.” For the community, it means consistency. For nonprofits, it means less time chasing dollars and more time focused on mission. For businesses, it’s an opportunity to lead with purpose.
At Out of the Cold, that purpose plays out in deeply personal ways. “When we meet a new guest, we don’t just offer a bed, we ask about their story,” said Veneziano. “What led them here? What are their goals? Then we build a plan that fits, whether that means help finding a job, reconnecting with family, or simply having clean clothes and food for the week. Every bit of support helps us say: You matter. You’re not invisible.”
And now, thanks to forward-thinking partners like Investment Research Partners, that message is getting louder.
If your company wants to help Centre County thrive, consider opening a fund with Centre Foundation. Together, we can create a stronger, more compassionate community, one story at a time. Contact Kerry Tolton, our Development and Stewardship Director at 814.237.6229 or via email at kerry@centrefoundation.org
If you or someone you know needs a shelter, OOTC’s day shelter and resource center is open to all from 8am-8pm and is located at 318 South Atherton Street in State College, PA. To get on the waitlist for overnight shelter, please call 814-852-8864.