Community Foundation Supports Good Works

CARING MATTERS
Published Thursday January 24th, 2008
Appeared on page C8

Each week, I take a few minutes to think about which non-profit group I will profile for this section of the paper. As I was contemplating my decision this week, it struck me that I have never written about the organization that I actually work for, the Fredericton Community Foundation.

I am often asked what do I do there. And I am always struck by my inability to reply using the KISS principle. For those of you who may not be familiar with the acronym, it means the ability to keep it short and simple.

Here is what the Fredericton Community Foundation does.

Jamie Petrie, current foundation chairman, described it best when he said, "The Fredericton Community Foundation has been improving life in Fredericton for over 50 years and has over $8.5 million in assets, making it one of the largest private endowment funds in New Brunswick."

Through more than 40 different funds, the foundation has helped more than 200 non-profit organizations in education, sports, culture, health and social program, and is responsible for donating more than $200,000 in grants in the Fredericton area every year. We are that rare charity that actually gives to other registered charities.

As part of the Community Foundations of Canada organization, the foundation is one of 158 organizations who try to provide leadership to the non-profit sector and enhance philanthropy to build stronger communities.

Three times a year, the foundation accepts applications from community charities and grants are made to support a variety of community initiatives. The finances to support these grants come from our community fund. Donors have entrusted the foundation board to make disbursements to qualified organizations through the granting process. Other organizations receive annual gifts from our designated fund. These funds are established by donors who specify the groups, organizations or agencies they wish to receive grants on an annual basis.

That is one of the unique characteristics of a foundation, one gift can give forever.
Additionally, the foundation has a number of scholarship funds established by individuals or groups who want to support those pursuing post-secondary training or education. These funds have been established to give financial assistance to those who meet criteria established by the fund holders. Generally, scholarship recipients are selected by a committee established by the fund holders. The foundation has 17 scholarships.

As noted above, there are more than 40 different funds currently held by the foundation. Funds can be named by the donors, such as the Smith Family Fund or can be more specific in nature such as The Jane Smith Music Fund. The foundation has granted more than $2 million to the charities which either apply for funding or who are designated by a donor.

A grant recipient once said, "The Fredericton Community Foundation has been a major player in building, not only a community project, but in developing 'the spirit of the community' that brings success to us all. We are proud to have partnered with them."

To find out more about the Fredericton Community Foundation, check out our website at www.fredfdn.ca or call 454-2262.