FOR IMMEDIATE RELEASE (February 28, 2019)
Record Number of Funding Requests
Saskatoon Community Foundation received a record number of funding requests in 2019, the highest in its 49 year history. Eighty requests were received in 2019, compared to 69 in 2018 and 53 in 2017. This year, the Foundation will need to turn down as many requests as it received in 2017.
“A tight economy, rising costs, increasing needs, and reduced government funding opportunities play a role in this troubling situation,” noted Curtis Kimpton, Saskatoon Community Foundation Grants Committee Chair. “Ultimately, though, the result is that many worthy charities will not receive funding they need to deliver needed programs and services.”
Carm Michalenko Executive Director urges “the business sector and private citizens alike to contribute to making our community healthier and prosperous for all.” Says Michalenko, “The Give YXE Fund is an easy way for individuals and companies to donate directly and instantly receive a charitable tax receipt. Donors have a choice. Contributions to this fund can go toward building the permanent endowment for our Quality of Life Granting program, or to fund projects now.”
For more information on making a gift to your community, please visit www.saskatooncommunityfoundation.ca, or call 306-665-1766.
For more information, contact:
Carm Michalenko, Executive Director
Don Ewles, Grants and Communications Manager
Background: ABOUT Endowments and Granting at Saskatoon Community Foundation
Since inception, Saskatoon Community Foundation has granted $27.5 million to support local charities. The Quality of Life Grant Program is adjudicated by a committee of leaders from the community, including some members of the Foundation Board of Directors
Saskatoon Community Foundation’s Grants Committee
Curtis Kimpton, Chair
Donors can establish personalized “Give Forever” funds (permanently endowed funds) to grant to causes that matter most to them. Donors can direct the income from their funds charities of their choice, or they can participate in the pool of funds which annually grant through the Quality of Life Grants Program. Donor gifts are invested, and grants are drawn from the income earned on the fund. As per CRA regulations, endowed funds grant 3.5% of their capital value per year. Smaller gifts become part of the Give YXE Fund. Grants from this fund support Quality of Life grants.
Donors also have an option to create a personalized “Give Now” Fund. With this type of “flow-through” fund, the gift is not invested, but instead is granted immediately to charities to support current projects.