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Frank Lightbound Endowment [Designated Fund]

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Broad-Based Generosity

Lethbridge is Frank Lightbound's hometown, but he considers all of Southern Alberta his community — a community he wants to support. A jovial gentleman, Frank recently did some estate planning. He established a designated fund with the Foundation to assist 12 organizations, ranging from the Lethbridge Food Bank and Humane Society to the Alberta Division of the Canadian Cancer Society and the Nature Conservancy of Canada, Alberta Region. He even established one for the Foundation to use where the need is greatest.

"It is equally gratifying to know that I'll be able to support these worthwhile groups in perpetuity and that the government won't be able to - collect any taxes from my estate," he chuckled. "That really warms my heart!"

After hearing about another foundation, Frank wondered whether something similar existed locally and was pleased to discover the Lethbridge Community Foundation. "I reviewed the last two annual reports and thought the Foundation looked good," he said. "I noticed the Frank Lightbound established funds and recognized the names of some of the other donors. I think they'll be good company to be in. I'm very confident about the Foundation."

Frank opened his fund with an initial contribution. "When my estate is settled, another very healthy contribution will be made," he explains. Between now and then Frank plans to continue to make annual donations to his fund: "It's like having your cake and eating it too."

Frank adds, "It feels good to know that the money will stay right here and do good, and that it will endure forever."

From LCF Report to the Community 2002