Huntsville company donates $150K to Madison Co. community - WSFA.com Montgomery Alabama news.

Huntsville company donates $150K to Madison Co. community

The funds will be used to start a 'community catalyst fund.' (Source: WAFF) The funds will be used to start a 'community catalyst fund.' (Source: WAFF)
HUNTSVILLE, AL (WAFF) -

Torch Technologies, a Huntsville-based company, donated $150,000 in an endowment to the Madison County Community Foundation on Monday. The funds will be used to start a community catalyst fund, which will grow every year.

The Community Foundation has big plans for this big check.

"Five percent of the fund will be used each year for community projects," said Torch CEO Bill Roark. "We will continue to grow the fund so that more and more funds are available to help things in the community."

"Much of the government funding has all but gone away," said Stuart Obermann, President and CEO of the MCCF. "We've seen non-profits really struggling to meet their budgets, so we hope that in time the community catalyst fund will become a perpetual source of grants that will allow us to grow and attack strategic problems right here in the Huntsville-Madison County community."

Those grants could range from early education to health and human services.

The Community Foundation hopes to one day hand out millions of dollars in grants every year.

Copyright 2014 WAFF. All rights reserved.

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