Your charity can harness the power of endowments by creating its own endowed fund with the Saskatoon Community Foundation.
By using campaign funds or a gift from a major donor, you can contribute funds to start your own endowment. Over time, you can continue to grow your endowment with additional contributions. No matter how large or small the fund is, the contributions are invested in perpetuity with the Saskatoon Community Foundation, and the interest earned creates a permanent source of stability and income for the future.
Working with the Saskatoon Community Foundation is key to READ Saskatoon’s long-term financial plan. In 1997, READ Saskatoon made the strategic decision to establish a Managed Fund and an Endowed Fund…these funds proved critical for us during COVID, and they provide ongoing support for our work in family, adult, and literacy programming.— Sheryl Harrow-Yurach. Executive Director, READ Saskatoon
Stability is the primary reason to create an endowment for your charity. Although the current fiscal year or the next payroll may be your main concerns, it is important to look beyond the current year and plan for the future. An endowment helps diversify income and reduce dependence on other sources.
Knowing your charity has established an endowed fund with the Saskatoon Community Foundation can be enormously comforting to your donors. The endowment signals that your charity plans to be around for a long time. It also gives donors an opportunity to make a gift for tomorrow that will benefit your charity forever, instead of addressing the needs of the moment.
Gifts made to your endowed fund are held forever. You will have a protected stream of income for years to come are protected from the ups and downs of charity funding from government or other sources. Future boards cannot recall the funds for use on special projects. The endowed fund gives your charity a source of income that can be relied on and used at your discretion.