CDCF sets up two new endowment funds

Submitted

The Cranbrook and District Community Foundation (CDCF) is thrilled to announce the establishment of its newest endowment funds: the Key City Gymnastics Club Fund and the Outdoor Recreation Fund.

The Key City Gymnastics Club Fund has been initiated with $18,000 in capital. The CDCF has permanently invested these funds, with the annual interest available every year, forever, to support the operations, programs, and services of the Key City Gymnastics Club.

The Key City Gymnastics Club has made a clear commitment to growing their endowment fund by allocating a small percentage of all fundraising to their endowment fund.

“We are very pleased to have established our Club’s endowment fund with the Cranbrook and District Community Foundation,” said Leona Lim, Board President of the Key City Gymnastics Club. “This fund will help us to diversify our revenue sources and ensure the long-term sustainability of our organization. We invite community members as well as current and former Club members to help build our fund through a tax-receiptable donation.”

The Key City Gymnastics Club provides programs for people of all ages and is one of the largest sports and recreation organizations in the City of Cranbrook.

The CDCF has also recently established the Outdoor Recreation Fund with $25,000 in initial capital. The CDCF has permanently invested these funds, with the annual interest available in perpetuity to provide financial support to non-competitive and non-motorized outdoor recreation activities in Areas C and E of the RDEK. The annual interest from this fund will be used to assist with capital costs such as trail maintenance equipment and interpretive signage as well as operating costs, including website maintenance fees, Directors and Officers liability insurance, and annual accounting fees.

“The Outdoor Recreation Fund has been established by a local family to celebrate their lifelong passion for the outdoors and to remember their loved one who also shared this passion,” said CDCF Executive Director Lynnette Wray.

“These donors started this fund based on the professional advice they received locally regarding the tax advantages of starting their charitable giving now. They have also included a gift to this fund in their wills. Members of the public are welcome to contribute to this fund.”

The Key City Gymnastics Club Fund and the Outdoor Recreation Fund will have their first annual grants in 2019.

To make an online donation to these new endowment funds, visit www.cranbrookcf.ca or www.facebook.com/cranbrookcf/ and click on the “Donate” button in the upper right of the page. Donations can also be made via cheque (made out to the Cranbrook and District Community Foundation) or cash.

The Cranbrook and District Community Foundation was federally incorporated in 2003 and is a CRA-registered charity. The CDCF is governed by 13 volunteer board members and employs one staff person. It holds a total of over $2 million in 29 permanently invested endowment funds, covering a wide range of interests, including arts and culture, sports and recreation, history, healthcare, community services, and the environment. From 2004 to 2017, the CDCF has given almost $500,000 to local projects and programs.

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