How a Foundation Works
What is a Community Foundation?
The first Canadian community foundation was created in 1921 in Winnipeg. Today, community foundations are the fastest growing form of philanthropy in North America.
A community foundation is an independent, non-political, non-ideological, community-based organization that receives, manages, and distributes charitable funds. The foundation collects money from all sources - individuals, corporations, families, private foundations - and pools this money to form a permanent capital fund for the benefit of a specific geographic community, whether a city, region or province.
The investment income from the capital of the various fund is distributed in the form of grants to assist a wide range charitable purpose in the community, whether the arts, health, education, social service, or environment, with the purpose of enhancing the quality of life for all.
How is a Foundation Administred?
A volunteer Board of Directors, made up of community leaders that are appointed by a committee of appointers, acts as the governing body of Lethbridge Community Foundation. Directors serve a 3 year term and can be re-appointed for a second 3 year term.The Board governs the foundation within regulations set down in The Lethbridge Foundation Act [Alberta, 1966] and by the Canada Revenue Agency relating to public foundations. Meet the board ...
The Lethbridge Community Foundation specializes in building endowment funds to provide support for community organizations, now and forever. Through the creation of permanent endowment funds, the Lethbridge Community Foundation provides donors with the opportunity to truly make a difference in their community. Gifts received by the Foundation are not spent and they are permanently invested. The endowment fund grows over time, and each year a portion of the income generated from the fund is given out as grants to charities. Learn more ...
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Updated September 2009
www.lethbridgecommunityfoundation.ca
403.328.5297 office@lethbridgecommunityfoundation.ca 404 8th St South
