The Community Foundation Distributes $200,000 in 2015
Happy New Year! As we close out another year, I would like to thank you for your part in building the Comox Valley Community Foundation and share with you some of our successes for 2014.
Let’s start with the really big news! Our overall endowment passed the $5 millionmark this year. And because of excellent investment results last year, we aredistributing $200,000 in grants, bursaries, scholarships, and payments to the eight charities that entrust us with managing their financial assets.
Community groups and individual donors continue to partner with the CVC Foundation for services to establish new designated funds. For example:
· The Courtenay Centennial Committee recently established a fund to provide an opportunity for community members to contribute throughout the coming year to a lasting legacy benefitting the community; and
· The new Jim and Marjorie Walden Fund will support the local branch of the Salvation Army and the CVRD’s Sports and Aquatic Centre.
The Foundation’s 80 named donor and general community funds continue to generate income which is used to respond to the most pressing needs in the community. Grants from these two sources supported a variety of initiatives including: emergency rescue equipment, a child development sensory room, upgrading the Filberg Park main stage, a number of literacy programs, sewer system upgrades at Camp Gilwell, and much more.
Our educational impact continues to grow through the bursary and scholarship funds generous donors have created with us. Income from these endowments will allow us to give out $23,000 in the coming year. Over this past year, we supported 15 students in their educational endeavours.
And there’s great news for the eight agencies that entrusted us with their endowments. We earned 6.5% on those funds and in December we distributed almost $53,000 (before administrative fees) to them.
During our annual Community Enrichment Awards event, we will be announcing a record $118,450 in grants. A record 20 community organizations will receive funding. We invite each of you to celebrate this achievement with us on January 15, 2015 at 2 pm at the Comox Recreation Centre. Please contact us at 250-338-8444 or firstname.lastname@example.org if you are interested in attending.
Thank you for your continued support; if you have any feedback you would like to send our way, we’re listening.
On behalf of the Foundation’s Board and staff, I wish you and yours all the best in 2015.
Norm Carruthers, President
Comox Valley Community Foundation