A new milestone for The Bay
The Bay Park Conservancy, a nonprofit responsible for designing, developing, and operating Sarasota’s signature public park on 53 acres of cityowned land along Sarasota Bay, has reached another financial milestone.
Thanks to donors, local businesses and other friends in the community, The Bay has raised another $5 million from private sources, triggering a third $1 million match from The Patterson Foundation’s challenge match. The result is a cumulative Patterson Foundation gift of more than $8 million to date.
“The Bay has been the beneficiary and exemplar of excellent stewardship,” said Debra Jacobs, president and CEO of The Patterson Foundation. “Over the last five years, generous donors have enabled ‘one park for all’ to become a reality.”
The additional match marks the third milestone in The Patterson Foundation’s challenge for the $24 million campaign announced in July 2021, which has generated over $15 million from private philanthropic, community sources, and matches. All funds will be used to operate, maintain and program the first 10 acres of The Bay, which has been visited by more than 300,000 park guests.
“From the beginning of The Bay, The Patterson Foundation has been supportive, encouraging and generous,” said AG Lafley, The Bay Park Conservancy’s CEO.
In 2019-21, The Patterson Foundation donated $5 million to support the initial $20 million challenge campaign to start up The Bay. In July 2021, Patterson announced its continued support for The Bay by committing up to an additional $4 million in matching funds to catalyze private donations for developing and operating the first phase of the park. Each time private philanthropy donates $5 million to The Bay through 2024, Patterson will provide a $1 million match, up to a total contribution of $4 million. Patterson’s contribution coupled with $20 million in private philanthropy results in a total investment of $24 million to The Bay.
For more information about The Bay and The Bay Park Conservancy, visit thebaysarasota.org or contact Julia Groom at julia@dreamlarge.org or 941786-8732.
Submitted by Julia Groom