Chilliwack – For the past 40 years (since 1985) the Chilliwack Foundation is a living trust that enables citizens to establish a fund, either during their lifetime or through gifts in their will or life insurance policy. Funds entrusted to the Chilliwack Foundation are administered in accordance with the donor’s intentions.
Funds donated to the Chilliwack Foundation are perpetually held in trust and invested under the oversight of the Investment Committee. Only the income earned from these investments is expensed annually to provide grants to local nonprofit organizations and scholarships to Chilliwack graduates pursuing a post-secondary education at an accredited institution.
The Chilliwack Foundation has no permanently paid staff except for accounting fees to both prepare and audit yearly financial statements and occasional part-time staff contracted to assist with administrative matters.
The Foundation is holding a fundraising scavenger hunt in September. More information to come.
From the 2024 presentation which FVN covered: 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.
