Community Foundation Renews Focus on Building Endowment Funds

December 6, 2011 (Orillia, ON) - As a result of a recent strategic review, the Community Foundation of Orillia & Area will be streamlining their activities and refocusing their efforts on growing their endowment funds so that they can increase the grants provided to local charitable organizations.

Faced with the departure of their Executive Director in September, the Community Foundation's Board of Directors throughly reviewed the organization's situation and direction.  As a result, the Foundation has signed a contract with the Orillia Area Community Development Corp. (CDC) to manage the administration of the Foundation.

"The most significant thing that the Community Foundation does for the long-term support and sustainability of local charities is managing and growing the endowment funds.  This is where we can provide the greatest long-term positive impact to this community," said Michael Gordon, a Director of the Community Foundation.  "This partnership with the CDC is a natural fit.  It will help us to focus on what is most important."

The Foundation works with community organizations and individual donors who wish to establish and build endowment funds.  These funds are essentially a pool of money where the interest and earnings each year are granted to local charities.  By preserving the capital of the endowment, it allows for the continuation of granting year after year.

The challenge for the Community Foundation has always been that the time, energy and resources spent on fundraising for the annual cost of dedicated full-time staff and office overhead can take away from the time spent actually building the endowment funds.

The CDC will support the Community Foundation by administering  their granting process, donation receipting and assisting with the administration of Board and Committee meetings.

"We are looking forward to this partnership.  The CDC is well set up to manage the administration of the Foundation and we believe in the fundamental principal of building an investment fund that supports the work that local organizations do to help sustain our communities," said Wendy Timpano, General Manager of the CDC.

The CDC's mission is to support the development of suistainable communities through community economic development and small business activities.

As the Community Foundation moves forward with their renewed focus, the traditional fundraising events that they have organized in the past will be placed in the care of other local organizations.  The annual Ski Day event has been transitioned to the United Way of Simcoe County.  The upcoming Snowbirds Air Show on Sat. June 30th 2012 has been transitioned to the Canada Day Committee who are planning a 2-day Canada Day weekend at Couchiching Beach Park.  The Dragon Boat Festival in 2012 will be run by the Rotary Club of Orillia - Lake Country.

The Community Foundation's mission is to facilitate and stimulate giving to build a strong and caring community in which to live, work and play through the stewardship of its permanent endowment funds.  This strategic change refocuses the organization on this mission.

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