The Foundation serves as a Trustee for funds donated by individuals who wish to contribute to organizations or schools in the community on an ongoing basis or to create a perpetual scholarship fund.
Funds donated to the Foundation are generally held permanently and invested in income-producing assets overseen by the Foundation’s Investment Committee. The capital of these funds is left untouched, allowing donations to grow steadily over time.
Virtually all income generated on the funds held in trust is distributed on an annual basis to charitable organizations in the Chilliwack area, or is used for scholarships for students in the Chilliwack area.
In keeping with the original objects of the Foundation, the funds managed by the Foundation are distributed to groups that enhance the cultural, educational or recreational aspects of the community or the physical well-being of the community.
Generally speaking, there are two types of funds managed by the Chilliwack Foundation: “undesignated funds” and “designated funds”.
The funds received by the Chilliwack Foundation are invested in perpetuity, which means that the capital of the donations is never touched.
See the Chilliwack Foundation’s Financial Statements for more information about the funds managed by the Foundation.