Community Foundation of Kawartha Lakes gives back with $1 Million in first year!
New Investment Charity Raises New Money for Specific Local Needs
FOR IMMEDIATE RELEASE (Lindsay, ON)
December 22, 2020
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The Community Foundation of Kawartha Lakes is pleased to announce that it has generated $1 million in local charitable investment activity in its first official year of operation.
Launched just last December at a standing-room-only reception in the Kent Place Mall atrium, the Community Foundation has had a very busy year working with donors, governments and local partner organizations to bring new funds to address specific needs in the community.
“I am thrilled!” proclaims Foundation co-founder and outgoing President, Mike Perry who grew up in Fenelon Falls and has lived in Little Britain and Lindsay. “The vision becoming reality and it is wonderful to see this work here in our home area.”
The key benefit of the Community Foundation model is that it permits donors to establish their own funds which are tax deductible and implement the philanthropic interests and wishes of the donor, subject to Canada Revenue Agency rules around charitable giving.
“We wanted to be sure to fill gaps,” Perry notes. “We wanted a model that can do unique things and give people a way to help with long-standing, tough areas of need locally.”
In its first year, the Foundation has administered over $1 million of charitable activity including the COVID-19 relief fund in Bobcaygeon and funds established for such diverse needs as cancer patient assistance, local tree planting, a new community theatre, a sculpture project, and scholarships for local students. Granting to local charities was offered through the Government of Canada Emergency Community Support Fund. A new microcredit program for agricultural innovation will be launched in the new year.
“It’s been great to provide people a new way to make a difference in our area,” adds Perry. “We have worked with local small businesses, Community Care, and the Boys & Girls Club and hope to do more with the United Way in the new year.”
Incoming President, Jack Roks, agrees: “I am very proud that the Foundation is representative of communities across Kawartha Lakes and that we have engaged our seasonal residents more.” He adds: “We are ready to work with everyone and it is an exciting time moving forward with this new tool for charitable investment in our community.”
The Community Foundations pillar areas of work include:
increasing employment and developing the local economy;
protecting the environment and helping agriculture;
promoting health and the arts;
and building strong communities by addressing poverty, homelessness and supporting persons living with disabilities.
Donors may create funds in these pillars or other charitable areas, depending on their interests and vision. The funds are combined with the other established funds to obtain higher earnings and reduced fees. The funds are administered by the Community Foundation compatible with the wishes of the donors. The Community Foundation model exists to help donors create funds that grow in perpetuity. The Community Foundation also takes on charitable projects working with local community groups. Tax receipts are issued and the Foundation can accept donations of securities as well. This is increasingly popular as the federal government provides generous tax benefits for donors.
To begin a conversation to start a fund or learn more about the Foundation, its Board of Directors and its philanthropy, contact Margaret at 705.879.2719 or email: info@kawarthafoundation.ca. The Foundation’s web site is at: www.kawarthafoundation.ca
