Pasadena Community Foundation Celebrates Large Bequest

We are just about to enter into the season of giving and nowhere is that fact more appreciated than at the Pasadena Community Foundation which recently received a generous bequest from a Pasadena resident valued at approximately one million dollars. This gift from the estate of Jean Bond Hubbard, the wife of former Citizen Business Bank’s president, Robert Vilas Hubbard, will add significantly to the grant making power of the Pasadena Community Foundation. Robert’s family founded Citizen’s Business Bank and he was a member of the Foundation’s Board from 1963 to 1980, serving as its president from 1976 to 1977.

When Jean Hubbard passed away this summer, she stipulated that the Pasadena Community Foundation should receive all of her considerable estate. What makes her bequest so unique is that it comes without limiting directives or requirements. By specifying that the entire bequest be placed in the Foundation’s unrestricted funds, she has enabled the Foundation to use its discretion to apply these resources where and when they are most urgently needed. “We are extremely grateful for the gift of trust as well as the financial gift that Jean has passed on to us,” saysJennifer DeVoll, Executive Director of the Pasadena Community Foundation. “It is really a gift to the whole community. We will use these funds wisely to meet local needs.”

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