The Prescott Foundation for Children and Youth, one of New York City’s longest-standing charitable organizations, has formally concluded operations after 163 years of service, closing a historic chapter defined by advancing educational opportunity and community support for underserved children and families.
— The Prescott Foundation for Children and Youth, one of New York City’s longest-standing charitable organizations dedicated to advancing educational opportunity for underserved children, has formally concluded its operations after 163 years of service.
Founded in 1858 by the Church of Divine Paternity, the Prescott Foundation evolved over generations in response to the changing needs of New York City’s communities. What began as a neighborhood-based social service initiative grew into a wide-ranging organization that provided early childhood education, youth programming, immigrant literacy, health services, and, ultimately, targeted educational grants designed to address gaps in opportunity for disadvantaged children and young people.
In its final decades, the foundation operated as a private charitable organization focused on enhancing educational outcomes in partnership with public and private institutions. This evolution followed the sale of Prescott’s historic East 53rd Street property, the proceeds of which were used to establish the foundation in its modern form. Bob Knakal of BKREA represented Prescott in the sale of the property while he served as Founder & Chairman of Massey Knakal Realty Services, and was subsequently asked to join the Board of Directors, later serving as President for five consecutive terms.
Under Knakal’s leadership, the Prescott Foundation sharpened its mission to ensure that its remaining resources were deployed responsibly and impactfully. The decision to wind down operations reflects the foundation’s commitment to completing its charitable purpose with integrity while honoring its original mission of social betterment through education.
Knakal’s decades of philanthropic leadership were recognized when he received the Founder’s Medal at The Brooklyn Hospital Center’s Annual Brooklyn Founders Ball in 2012, an award honoring individuals who exemplify voluntarism, philanthropy, and service to the community. The event raised $1 million in support of the hospital’s mission to provide outstanding healthcare, education, and research to Brooklyn and the greater New York area.
“It has been an extraordinary privilege to help steward an organization with such a profound and lasting impact,” said Bob Knakal. “Prescott’s work spanned generations, and its legacy lives on through the countless lives it touched by expanding access to education and opportunity.”
Throughout its history, the Prescott Foundation addressed evolving community needs – from operating baby clinics and nursery schools to supporting immigrant education and youth development programs. While the foundation’s operations have now concluded, its legacy endures as a model of thoughtful philanthropy and long-term civic commitment.
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Contact Info:
Name: Bob Knakal
Email: Send Email
Organization: BKREA
Address: 36th Street NY NY 10018
Phone: 212-888-8850
Website: https://bkrea.com
Release ID: 89182392
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