When you create a charitable fund through the Chilliwack Foundation, you have the opportunity to benefit the community now – and forever – with a permanent endowment.
Your gift is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift — and all future earnings from your gift – is a permanent source of community capital, helping do good work today and in the future.
Funds can be established by donors with specific instructions regarding the distribution of income from the fund, usually on an annual basis.
A minimum of $20,000 must be donated to the Foundation in order to start a new fund. Once the fund has been established, any amount can be donated to add to the capital of the fund.
Funds can be either designated to a particular organization or scholarship or undesignated. Undesignated funds will be added to the general fund of the Foundation, the income from which is distributed each year by the Distribution Committee through the Grant program.
We invest all endowment funds in a pooled account using a professional investment manager in conjunction with our investment committee.
Capital gains from investments are allocated on a pro-rata basis to each fund, quarterly, and added to the capital of the fund.
Administration expenses are allocated to the funds on a pro-rata basis at the end of each year.
