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Prentice Family Foundation

Annual Giving
$0.9M
Grant Range
$10K - $0.5M

Quick Stats

  • Annual Giving: $940,157 (2023)
  • Success Rate: Not applicable (invitation only)
  • Decision Time: Not disclosed
  • Grant Range: $10,000 - $525,000
  • Geographic Focus: Western New York (based in Jacksonville, FL)

Contact Details

Website: www.prenticefoundation.org

Executive Director: Nicole R. Tzetzo, Esq.

Note: The foundation does not respond to unsolicited applications for funding.

Overview

The Prentice Family Foundation was established in 2007 by Bryant H. Prentice III and Joan P. Prentice. With assets of approximately $23.6 million, the foundation operates from Jacksonville, Florida, but focuses exclusively on Western New York economic development. The foundation's mission is "to facilitate economic growth, productivity, and employment within Western New York, ensuring that the region remains a vibrant community for future generations." The foundation takes a dual approach: providing scholarships to entrepreneurial-minded students through its WNY Prosperity Fellowship Program and making direct program-related investments in private companies to create meaningful and sustainable jobs in the region.

Funding Priorities

Grant Programs

The foundation operates primarily through two strategic programs:

WNY Prosperity Fellowship Program: $25,000 - $30,000 per fellow

  • Annual scholarships and paid internships for undergraduate and graduate students at the University at Buffalo and Canisius College
  • Provides tuition assistance combined with paid, credit-bearing internships
  • Fellows receive up to $30,000 total support based on demonstrated financial need
  • Paid internship component provides $20 per hour for up to 200 hours
  • Recipients commit to working in Western New York's eight counties for at least two of the ten years following graduation
  • Open to students in all undergraduate majors and select graduate programs including business, engineering, architecture, and pharmaceutical sciences

Institutional Grant Recipients (2022):

  • University of Buffalo Foundation: $525,000 for scholarship program administration and awards
  • Canisius College: $281,000 for scholarship program administration and awards
  • WNY Prosperity Fellowship Inc: $10,000 for scholarship program administration and awards

Economic Development Investments: No minimum or maximum limits

  • Direct investments in private companies through loan guarantees, direct loans, equity investments, and grants
  • Each investment evaluated on its own merits
  • Preference for investments made in conjunction with like-minded investors
  • Special interest in supporting WNY Prosperity Fellowship alumni establishing or expanding businesses in Western New York
  • Example: Tresca Design (Buffalo-based engineering firm) received multiple investments in 2020-2021

Priority Areas

  • Economic development and job creation in Western New York's eight counties
  • Education and entrepreneurship development
  • Support for innovative products and services that create meaningful employment
  • Retention of talented graduates in Western New York
  • Leadership development for the next generation of regional entrepreneurs and innovators

What They Don't Fund

  • Organizations or projects outside Western New York
  • Unsolicited applications from organizations not already in their portfolio
  • Students at institutions other than University at Buffalo and Canisius College

Governance and Leadership

Dr. Bryant H. Prentice III - President & Chairman "My family hopes to make a multi-generational impact on Western New York..."

Joan P. Prentice - Vice President & Vice Chair Co-founder with her husband Bryant

Marc C. Hutchinson - Director & Treasurer

Robert M. Zak - Director & Secretary

Nicole R. Tzetzo, Esq. - Director

Dr. Francis J. Felser - Director

The foundation operates with a small, family-centered board that maintains close oversight of both the fellowship program and economic development investments.

Application Process & Timeline

How to Apply

This foundation does not have a public application process.

For the WNY Prosperity Fellowship Program, students must apply through their respective institutions (University at Buffalo or Canisius College) via their internal scholarship portals. The universities administer the program with their own specific admission standards and levels of financial assistance.

For economic development investments, the foundation does not accept unsolicited proposals. According to their website, interested parties are encouraged to "contact us for more information," but all investment decisions appear to be made at the discretion of the board of directors.

Grant recipients are limited to the two partner universities (University at Buffalo and Canisius College) and the WNY Prosperity Fellowship Inc organization.

Getting on Their Radar

This section is not applicable as the foundation has established, exclusive partnerships with specific institutions and does not seek new grantee relationships outside of this structure.

For fellowship applicants, the pathway is clear: enroll at University at Buffalo or Canisius College and apply through the institutional scholarship process.

For businesses seeking investment, the foundation has indicated a special interest in supporting WNY Prosperity Fellowship alumni who are establishing or expanding businesses in Western New York. Building connections through the fellowship alumni network may be the most viable pathway.

Decision Timeline

Not publicly disclosed. Fellowship awards are announced annually, with information sessions typically held in November-December for the following academic year.

Success Rates

Not applicable for traditional grant applications. The foundation operates on an invitation-only basis for institutional grants and a university-administered process for fellowships.

Reapplication Policy

Not applicable as there is no public application process.

Application Success Factors

Since this foundation operates exclusively through institutional partnerships rather than open applications, success factors are limited to the fellowship program administered by the universities:

For Fellowship Applicants:

  • Must demonstrate financial need through FAFSA completion
  • Must be U.S. citizens or permanent residents (Western New York residency not required)
  • Should show entrepreneurial drive and commitment to regional economic development
  • Must be preparing for a career that furthers economic development and growth in Western New York
  • Commitment to work in Western New York for at least two of ten years post-graduation is required
  • Strong alignment with the foundation's mission of multi-generational impact on the region

For Potential Investment Partners:

  • Connection to WNY Prosperity Fellowship alumni network provides preferential consideration
  • Focus on creating "meaningful and sustainable jobs" rather than just innovation
  • Willingness to work "in conjunction with likeminded investors"
  • Clear demonstration of economic impact potential for Western New York

Key Takeaways for Grant Writers

  • Not Open to General Grant Applications: This is an invitation-only foundation with pre-established institutional partnerships. Traditional grant seeking will not be successful.
  • Student-Focused Pathway: The only accessible pathway is through the WNY Prosperity Fellowship for students at University at Buffalo or Canisius College.
  • Geographic Exclusivity: Despite being headquartered in Jacksonville, FL, all funding activities focus exclusively on Western New York's eight counties.
  • Long-Term Regional Commitment: The foundation seeks multi-generational impact and requires fellowship recipients to commit to working in the region post-graduation.
  • Economic Development Over Charity: The foundation prioritizes job creation, entrepreneurship, and sustainable economic growth over traditional charitable giving.
  • Alumni Connection for Business Investment: Graduates of the WNY Prosperity Fellowship Program seeking to start or expand businesses in Western New York may have access to economic development investment opportunities.
  • Dual Mission Approach: The foundation uniquely combines educational investment (scholarships) with economic investment (business financing) to create a comprehensive regional development strategy.

References

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