That was the core message Yorkton Council heard Monday at its regular meeting in a presentation by Foundation President Ray Bailey.
“The interests generated by the endowment fund are distributed in the form of annual grants to charities in our communities,” he explained.
The principal amount in the fund, or donations made to YDCF, remains intact to become a lasting legacy and permanent stable funding for charities in our community.
Bailey also explained the YDCF is part of a worldwide movement of community foundations whose objective is to help build stronger and more vibrant communities.
“We are grateful for the mentors and partners we have had along the way,” he said, noting in particular the support of the Friends and Family Foundation in Langenburg, the City of Yorkton, and the Saskatoon Community Foundation (SCF). A partnership agreement with the SCF secures expertise to maximize investment returns and to administer the fund.
“We are a part of Community Foundations of Canada, a network of nearly 200 community foundations from coast to coast to coast,” added Bailey.
YDCF is not intended to replace any existing fundraising body in the district, but seeks to augment the resources available to local charities and secure funds for the current and future needs of the community.
The Foundation plays three key roles:
* It works with charities in our communities to identify local community needs and to advocate for meaningful social change. Each community has unique experiences and challenges. Its strength is in bringing donors and charities together to address these needs;
* It works with donors who wish to make meaningful and lasting contributions to the well-being of their community. The Foundation makes charitable giving easy, flexible and effective. We work with donors and their advisers to maximize the value of charitable gifts. The goal is to help you meet important needs in the community, fulfill the donor's charitable goals, and maximize their tax advantages;
* It supports charitable organizations that provide programs and services for the community. Gifts can support any cause that a donor can imagine. “We believe in the power of individuals and organizations working together to bring about positive change in our communities,” said Bailey. “Gifts are pooled and invested and form permanent community assets. Earnings from these assets are granted back into the community each year to registered charities.” YDCF became a registered charitable public foundation on March 21, 2019. “We launched at the Yorkton Chamber of Commerce Celebrate Success awards in October of 2019,” said Bailey. In spite of the pandemic the Foundation raised over 100 thousand dollars in its first year and with a partnership with the federal emergency fund the Foundation was able to grant more than 100K in its first year. “We now have $180 K in endowed funds and an additional 90 K in pledged commitments from Legacy Coop and Baker Tilly in Yorkton,” said Bailey. “As well the YDCF has been named in three estate plans that we are aware of to-date. “We are proud to report that after two years the Foundation is approaching $500K in endowed funds combined with pledges and estate commitments.” And, work continues. “We still are actively accepting donations of cash or properties of any size,” said Bailey. “. . . Make a commitment over time and think of the community foundation in their estate planning or at times such as when a farm, property or business is sold.”
