Saddleback Announces $1.5M Donation to Kick-Start Philanthropic Fundraising Program

Saddleback announced a $1.5 million dollar challenge grant from the PARC Foundation and two anonymous donors from the Rangeley area to jump-start their fundraising plan to capitalize projects benefitting the Saddleback ski area and the Rangeley area economic region.

Right from the beginning Arctaris, the new owners of Saddleback, have indicated that a philanthropic component to the business model was key to successfully managing the mountain and fulfilling its mission to revitalize economically disadvantaged areas. The projects indentified for funding are more than just on-mountain improvements. Many projects have an impact on the wider Rangeley area including helping solve for affordable housing, affordable, quality daycare, expanding access to quality health and wellness care and creating an entity that will provide seasonal workers with year-round benefits.

Saddleback has partnered with the Venn Foundation to manage the philanthropic donations. Saddleback is one of the Program Related Investments (PRIs) that the Venn Foundation sponsors allowing individuals and charitable entities to support these PRIs with their donations. Donations can be of any size, are typically tax-deductible and returns can be redirected into other PRIs. You can find out more information and register your interest in donating to the Saddleback PRI by visiting the Venn Foundation website.

https://www.vennfoundation.org/pri-saddleback

This is an opportunity for the Saddleback community to help match this generous $1.5 million dollar donation and enhance the outdoor recreation and economic opportunities in the Saddleback region.

A BIG shout-out goes to organizers of the Saddleback Mountain Foundation (SMF). The folks behind SMF played a pivotal role through the initial purchase of the mountain by Arctaris. According to Saddleback, the Venn Foundation will continue to carry forward the philanthropic work started by SMF. Thank you to all those who were involved and donated to SMF! The work continues!