History of the Fredericton Community Foundation
The Fredericton Community Foundation was incorporated in 1956 as the brainchild of the late Alden R. Clark using the Winnipeg Foundation as a prototype. The Foundation was founded for the purpose of creating an organization for worthy community purposes. The incorporation document identifies the objectives of the Foundation as follows:
- Promoting educational advancement or scientific research for the increase of human knowledge and alleviation of human suffering.
- Promoting the cultural aspects of life in the community.
- The betterment of underprivileged or needy persons.
- Any other cultural, educational, recreational or charitable purpose that, in the opinion of the Board, makes for the mental, moral and physical improvement of the inhabitants of Fredericton and its surrounding area.
Through the years, the Foundation has experienced periods of inactivity, but the basic premise of a perpetual body to oversee the stated objectives of the Foundation remain. The Foundation has continued to grow from its meagre beginnings of an initial gift of $10,000 from one of its founding fathers to a portfolio that today has a market value of approximately 7.5 million.
In December of 1999, on the eve of the new millennium, the Fredericton Foundation took a giant step forward. The Foundation joined the National Support Group, Community Foundations of Canada and became actively involved in a new initiative in philanthropy in New Brunswick. Community Advancement New Brunswick (CANB) is a joint effort of Community Foundations of Canada, the T.R. Meighen Foundation of Toronto and the four Community Foundations in New Brunswick, of which Fredericton is one. The main objective of the three-year program is to strengthen and grow each Foundation so each can have a greater and more positive long-term effect on its respective community.
The Fredericton Foundation immediately endorsed the concept of the program and conducted a Strategic Planning Session in February of 2000. The end result was a Management Plan for the Board of Directors to follow in fulfilling new strategic direction.
In early 2000, the Fredericton Foundation established its first ever office, located at 390 King Street, Suite 201.
In November 2000, a petition to the Provincial Legislature was initiated for the purposes of changing the name of the Foundation to the Fredericton Community Foundation Inc., to revise the legislation by which the Act to incorporate the Fredericton Foundation Inc. was established, and to generally introduce consequential changes including the clarification of the investment and management responsibilities of the Board of Directors.