Editorial — June 21, 2014

Staff ~ The Prince Albert Daily Herald
Send to a friend

Send this article to a friend.

It’s nice to see that the Prince Albert and Area Community Foundation continues to do fine work in our community.

On Friday morning the PAACF handed out 15 grants and three scholarships.

The scholarship money comes from an endowment set up by Herschel Davidner. The grant money comes from the Saskatoon and Area United Way, the Moffat Family Fund and the PAACF’s investment income.

The money is made available to the PAACF with some guidance from the United Way and the Moffat family, but the rest comes from the local foundation itself.

For the sake of full disclosure, it’s important to note that Daily Herald managing editor Perry Bergson has sat on the PAACF board for the last couple of years.

But that in no way colours or changes what the foundation is doing in Prince Albert.

The interesting thing about this kind of foundation is that the principal is never handed out in grants. The only money that is spent is the investment income.

So a donation to the community foundation will continue to last as long as the foundation does.

In Canada, there are currently 191 community foundations, some that are quite small and some that are comparatively massive.

In 2012, by just spending the investment income from money under their care, community foundations in Canada handed out a whopping $154 million to thousands of charities.

And the beauty of the foundation setup is that money remains available every year. The amount of the grants may vary by how well the investment income does, but that principal remains intact and continues to work in Canadian communities.

Across Canada, the shared assets now top $3.1 billion.

The Prince Albert and Area Community Foundation remains a low-key, sometimes forgotten member of the local philanthropic community but it does good work handing out its money and that of the other funders.

You just have to look at some of the people who received the money on Friday. Here is a sampling.

The Prince Albert Mobile Crisis Centre uses the money to help with transportation costs.

The Canadian Red Cross uses its money to train First Nation and Métis people to act as personal disaster assistants.

The Canadian Diabetes Association helps fund its summer camp for children with the disease.

Big Brothers/Big Sisters of P.A. uses the money to provide in-school mentors at two community schools.

THE Canadian Mental Health Association provides a nutritious lunch to people with mental illness.

The Tamarack Foundation’s Education In The Great Outdoors provides an academic summer program for children with learning disabilities.

That’s just a few of the many programs that are being funded.

If you want your money to outlive you for many generations to come in this city, it’s worth thinking about the Prince Albert and Area Community Foundation.

 

Prince Albert Daily Herald

Organizations: Prince Albert and Area Community Foundation, Prince Albert, Daily Herald Moffat Family Fund United Way PAACF board Canadian Red Cross Canadian Diabetes Association Canadian Mental Health Association Tamarack Foundation

Geographic location: Canada, Saskatoon

  • 1
  • 2
  • 3
  • 4
  • 5

Thanks for voting!

Top of page

Comments

Comments