Thanks to the generosity of two local families, Dufferin Community Foundation’s invested funds now exceed $1.25 million. The milestone means that up to $30,000 will be available for local charities in 2022, rising to approximately $50,000 a year beginning in 2023.
The donations from the two families were made through the Foundation’s Donor-Advised Fund program. In each case, the family set up a named fund to support the causes and charities they care about the most.
Two new family funds will benefit children’s health, education and more
Courtesy of Julie, Steven, Cameron and James Wood of Mono, the Woodlot Endowment Fund was created to support “physical, mental and emotional well-being, post-secondary school education and the arts.”
“Our family has been active in the Dufferin Community since 1997, benefiting from, and contributing to, local charities, not-for-profits and community initiatives,” said Steven Wood. “We wanted to make a lasting commitment that would have an impact.”
The Woodlot Endowment Fund was created by the Wood family of Mono. Pictured here from left to right: Steven, Cameron, Julie and James Wood.
The Cedar Fund, established by a local family who wishes to remain anonymous, will have its contributions directed to poverty relief, as well as women’s and children’s health.
“We were raised in Dufferin Country with a strong sense of the importance, and responsibility, of giving generously to help people in need and to make our community stronger. We are excited by what the Foundation is building and honoured to be part of it,” they stated.
These funds bring the number of Donor-Advised Funds invested with the Foundation to three. The Greenwood Family had previously created a fund to focus on learning enrichment for children and youth, especially for families living in poverty.
“We are grateful to these families for establishing funds for our community,” said Gord Gallaugher, President of Dufferin Community Foundation. “They care deeply about the well-being of residents in Dufferin County and know that their fund will help countless people now and for generations to come.”
Donor-Advised Funds (DAFs) are growing in popularity across North America. For local families who want to set up a private charitable foundation, establishing a DAF through the Dufferin Community Foundation can make better sense.
“A Donor-Advised Fund has all the benefits of a private foundation in that the family advises us where they want their contributions to go,” said Gallaugher. “But it’s much more hassle-free. We look after the audits, accounting and legal requirements, so they can focus on the good they want to do in the community.”
In addition to named funds, the Dufferin Community Foundation offers residents the option of donating whatever amount they can to its five “field of interest” funds. These include the Vision Fund, which helps meet the community’s most urgent needs, the Arts, Culture & Heritage Fund, the Emergency Fund, the Mulmur Fund, and the Environment Fund.
Reaching more than $1 million is a significant achievement in the Dufferin Community Foundation’s overall goal of raising $10 million in invested funds over a 10-year period.
The Dufferin Community Foundation is the “forever fund” for our county. Donations are invested into permanent funds that earn an annual income. The Foundation uses the income to provide grants to local charities, every year, forever.