Niagara Community Foundation

FOUNDATION LAUNCHED WITH MAJOR COMMUNITY SUPPORT

The Niagara Community Foundation was officially launched at an event celebrating the efforts of its organizing volunteers, the donations from its founding supporters and two $100,000 lead gifts to its endowment fund.

In announcing a gift of $100,000 from the Branscombe families, Frank Branscombe, of Niagara Falls, said that "the Foundation will be a method by which community-minded businesses and individuals who have enjoyed good fortune will be able to make donations knowing that the income from the capital will be directed to proper and deserving causes". It was Mr. Branscombe who planted the seed for the idea of creating a community foundation for the Niagara Region with Regional Chair Debbie Zimmerman. The Region then took up the challenge and facilitated the creation of a steering committee.

Sean Jackson, CEO of Niagara Credit Union, announced a gift of $100,000, the first corporate gift to the foundation's endowment fund. "This is the largest gift in the credit union's history. The donation is over and above our annual donations to community groups.," said Jackson. Mr. Jackson is a member of the inaugural board of the foundation.

"We approached the Niagara Credit Union because of their roots and history throughout the region", said the foundation's interim chair, John Potts, "especially since the Niagara Community Foundation is to serve the entire Region of Niagara. We are very pleased to partner with them in the launch."

Supporters providing funds and services for the first three years of operations were also recognized at the launch, as were the volunteers who worked on the Steering Committee and Nominating Committee.

At the event thirteen leading citizens from across Niagara were elected to the inaugural board of directors. The foundation is still recruiting for two positions to represent the Wainfleet/Port Colborne area and Fort Erie.

Many people are asking us how the foundation is different from a United Way," said Liz Palmieri, the foundation's executive director. "United Ways provide ongoing operating support for programs, usually receive smaller annual gifts from individuals (mainly through payroll deduction), focus on health and social services and distribute the funds they raise annually. A community foundation funds new undertakings and special projects, usually receives larger one-time gifts of assets from a smaller group of donors, offers grant-making to many sectors and its endowment is held in perpetuity - like a living legacy. Consider the United Way the community chequing account and the foundation a community savings account."

As a public foundation, the charitable gifts of many donors will be pooled into permanent, income-earning endowment funds that benefit local charities. Grants from the earnings of these funds will go to support a wide range of local initiatives - from health, education and social services to arts and culture and the environment. The foundation will be developing their granting program, in consultation with the community, over the next year and anticipate making its first grants early in 2002.

Winnipeg established the first community foundation in 1921. Today, Canada's 101 community foundations hold combined assets of over $1.2 billion. Last year, they made over $60 million in grants to support local priorities across the country. The total population served by community foundations in 1999 was 18.5 million, more than half of Canada's population. They are located from P.E.I. to Vancouver Island, serving large and small urban centres and rural communities. Each foundation is autonomous and governed by a volunteer board of directors. The foundation is not affiliated with any level of government.

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