Overview of the Chilliwack Foundation.

What is the Chilliwack Foundation?

legacyThe Chilliwack Foundation is a non-profit organization that has served as a trustee of funds left in its care by public-spirited citizens in the Chilliwack area ever since its creation in 1985.

We have acted as trustee of funds donated specifically for the benefit of particular community organizations and general donations for over 25 years and are one of approximately 181 community foundations serving the needs of their respective communities across Canada.

The Foundation is a living trust that enables citizens, either during their lifetime or through gifts in their Wills or gifts of life insurance, to create a fund, add to an existing fund of the donor’s choice or donate funds to be used in the Foundation’s Grant programme. All funds donated are held in trust and used to benefit charitable organizations providing services to individuals and groups in the Chilliwack community.

How does the Chilliwack Foundation work?

Funds donated to the Chilliwack Foundation are held in trust in perpetuity and the income from the funds is used to benefit organizations in the community. Only the income generated from the donated funds is distributed. As a result, the capital of the donated funds is maintained as a perpetual trust. All of the income generated on the funds held in trust is distributed each year.

The Chilliwack Foundation has no paid staff with the exception of the accountants it hires to perform an audit of its financial statements each year and part time staff hired on contract from time to time to assist with administrative matters. As a result, the overhead of the Chilliwack Foundation is very low when compared to similar organizations that have permanent, full time or part time staff. This means that all but a small portion of the income generated each year on the funds held in trust by the Foundation is distributed to organizations in the Chilliwack community for their projects.

For information on the organizations that have received funds from the Chilliwack Foundation, please see the Tables of Approved Grant Applications under Grants.

Funds donated to the Chilliwack Foundation are categorized as “designated” or “undesignated”. “Designated” funds are intended to benefit a particular community organization “designated funds” with a pre-defined destination or in “undesignated funds” which are distributed through grants to organizations selected by the Foundation’s Distribution Committee. In either case, the capital of the fund is left untouched, with only the income it generates being disbursed.

Because the donated funds are generally invested by the Foundation in assets that increase in value over time and the capital is left untouched, the funds usually grow steadily over time. The Foundation’s Investment Committee has a strong record of disciplined and prudent management of the Foundation’s investments which has provided strong returns even in adverse market conditions. As of 2013, the assets under management by the Foundation have an aggregate value of approximately $7 million.

When you give to the Chilliwack Foundation, we will ensure that your gift, large or small, is used to meet the changing needs of the community in accordance with your wishes.

The Chilliwack Foundation is managed by a volunteer Board of Directors and a number of Committees, which are also made up of volunteers. As a result, the overhead of the Foundation is lower than other similar community foundations, meaning that more of your donations can go towards the causes you care about.

Overview of Committees

The Chilliwack Foundation has the following Committees, all of the members of which are volunteers:

  1. AUDIT COMMITTEE  – Coordinates and reviews annual Audit Report prepared by Auditors
  2. INVESTMENT COMMITTEE – Meets periodically to review and make adjustments to the investments for the Foundation
  3. PUBLIC RELATIONS COMMITTEE – Arranges for advertising for Grant Application deadlines and general advertising and public relations
  4. DISTRIBUTION COMMITTEE – Meets twice per year in December and June to review Grant Applications submitted to the Distribution Committee in November and May
  5. SCHOLARSHIP COMMITTEE – Reviews and approves scholarship applications to the Foundation annually in the Spring after the scholarship applications have been received
  6. NOMINATING COMMITTEE – Proposes new Board Members for the Foundation
  7. BYLAWS AND POLICY/PROCEDURES COMMITTEE  – Updates Bylaws and coordinates Policies and Procedures for Committees

FAQ’s

Q. How do I apply for a Scholarship from the Chilliwack Foundation?
A. See Scholarships →

Q. How can my organization apply for a Grant from the Chilliwack Foundation?
A. See Grants →

Q. Why should I donate to the Chilliwack Foundation?
A. See Donations →

Q. How can I donate to the Chilliwack Foundation?
A. See Donations →