After being years in the making, the Town of Whitecourt has officially established the Whitecourt Community Foundation.
The Foundation will pool together small and large donations and invest them long-term, with the interest that’s earned then granted annually to local charities or organizations.
Over the past two years, a founding committee has worked with the Town to establish the Foundation, with Council initially providing seed money to get the project started. According to a press release issued on behalf of the group, the Whitecourt Community Foundation “offers a way to leave a legacy that will enhance the quality of life for the people of Whitecourt and neighbouring communities long into the future.”
Mayor Maryann Chichak says the WCF is in the process of developing bylaws and have filed an application to become a registered society and then a registered charity, but the entire process will take time.
In the meantime, the group is currently working with the Edmonton Community Foundation to create an Endowment Fund and Endowment Transfer Fund. This means funds can still be raised immediately for the Whitecourt Community Foundation through Edmonton’s group and then invested into community organizations. Once the WCF receives their registered charity status, the funds will be transferred back to them from Edmonton.
All donations to the Whitecourt Community Foundation will remain in Whitecourt and surrounding communities, giving residents and businesses a chance to invest in local growth and development.
Available through the Whitecourt Community Foundation is a Named Fund, which the group says allow the donor or donor’s family to direct the annual interest earned, working together with the Board of Directors and furthering the goals of the Foundation.
Named Funds are available for $10,000 or more and the commitment can be fulfilled as a one-time gift or over a five-year period.
The Whitecourt Community Foundation Founding Committee members are Art Martin, Linda Mangnall, Norm Hodgson, Sue Guenette, and Williard Strebchuk.
For more information on the Whitecourt Community Foundation, contact Chelsea Grande at 780-778-2273, or by email at firstname.lastname@example.org.