The beginnings of CFWCFounding Fathers
Left to right: Clare J. Crary, local philanthropist; Holger N. Elmquist, retired Trust Officer; James H. Frantz, Attorney; Raymond W. Steber, Trust Officer Warren Bank & Trust; Glenn E. Stone, Trust Officer Warren National Bank
Created in 1949, The Warren Foundation was set up as a non-profit community charitable trust to benefit our area. A self-appointed committee became the founding fathers of the Foundation.
The formal adoption of a Resolution and Declaration of Trust by the Boards of Directors of the Warren National Bank and the Warren Bank and Trust Company of Warren, Pennsylvania, on December 13, 1949 and December 14, 1949, respectively, created the Warren Foundation, now known as The Community Foundation of Warren County.
This name change emphasizes that the Community Foundation serves all of Warren County and also emphasizes that it is a community foundation as opposed to a private foundation. The Foundation established a new Corporation on March 12, 2004, which would enable the Foundation to expand the services it offers to donors and the community. This new corporation is now known as the “Corporate Division” of the Foundation and the original trustee structure is known as the “Trust Division”.
PNC Bank and Northwest Savings Bank, which became a trustee bank for the Foundation in 2002, now manage the Trust Division investments. After various mergers over the years, both original trustee banks, Warren Bank and Trust Company and Warren National Bank, were absorbed into the current PNC Bank. On the Corporate side, Bank of New York Mellon serves as financial advisor.