Chilliwack – CoWork Chilliwack was the backdrop for a presentation by the Chilliwack Foundation.
Ferne Heaps, Executive Director, laid out what the foundation has been able to do for and with non-profits in the community, and why it is important to continue the work.
It was in 1983, that the idea of a local foundation occurred to independently serve people in the Chilliwack area.
Members of local charitable organizations, often seeking financial assistance, felt it would benefit the entire community.
Financial advisors, estate counselors, solicitors, and notaries, like yourselves, also wanted to help their clients leave bequests in their wills that would benefit their community.
A Board of Directors, an Investment Committee, and a Distribution Committee were formed, entirely with volunteers, and the fundraising and awareness began.
Funds donated to the Foundation are invested in income-producing assets overseen by our Investment Committee.
As funds donated to the Chilliwack Foundation remain in perpetuity, only the income generated on investments is used to fund grants and scholarships provided by the Foundation.
Through the diligence of the Finance Committee, Chaired by Peter Dombowsky, assets of the Chilliwack Foundation have grown from initial donated seed money and an anonymous donation of $20,000.00 to a portfolio market value of $11,192,589.00 as of August 30.
Currently, the Foundation has 15 designated funds that generate income distributed each year to a specific charitable organization in the community such as Chilliwack Community Services and Chilliwack Hospice.
To date, these designated funds have awarded $2,045,388.00 to Chilliwack organizations.
Website and grant information is here.
