We are proud supporters of...
...The Community Foundations of Canada
~~all for community~~
...The Winnipeg Foundation's Endow Manitboa.
~~Put down roots, grow your community~~
~~Give where you live~~
C.A.C.F Investing with The Winnipeg Foundation...
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Welcome to the Carberry and Area Community Foundation website!
~~Charitable Gifts Funding The Future~~
CACF’s goal is to provide a greater granting impact for our donors. The board of the CACF believes the best way to maximize their granting impact is by investing 85% or more with The Winnipeg Foundation (TWF). On July 7, 2015 a unanimous resolution was carried at our July 7th, 2015 board meeting approving CACF becoming an affiliate member of TWF by investing at least 85% of our endowment funds.
The Winnipeg Foundation’s Director of Finance, Susan Hagemeister and Funds Administration Specialist, Denise Campbell, gave a very informative presentation at our open to the public meeting on July 7, 2015 at the Carberry Community Memorial Hall. The ladies explained how affiliate members are entitled to several bonuses from TWF: one being a yearly Threshold Grant. Depending on the amount of assets each foundation has will determine their annual grant amount. For example, CACF has assets just over 2.3 million. Our threshold grant would be an extra $5,000 of income each year to spend or grant as the board wishes.
The average annual return from investment over a period of years creates the necessary revenue to cover three costs: yearly grant making, the need to protect the purchasing power of donated gifts over time and the annual cost of operations. Not only is TWF modestly expecting to achieve a 10% rate of return this year, Susan also explained how affiliate members receive several grants and programs for investing at least 85% of their total endowment with them. As soon as next spring, the CACF Board will easily be able to grant out between 3.5% and 4.4% of assets and a portion of the approximate 10% interest generated will be used to fund administration costs with the remaining balance going back into the CACF endowment fund allowing it to grow.
The CACF is currently investing their over 2.2 million endowment in strictly GIC’s averaging a 3% interest rate. CRA mandates that 3.5% be given out in grants per year which could mean spending .5% principle. In the past, the board has been able to avoid spending any principle because of a large carry forward amount that has been accumulated from years of higher interest rates. When interest rates were high the Foundation was averaging about 4.5% and would in turn spend 100% of the interest earned in grants each year. This extra 1% or so was carried forward the books and was available to be used for tougher times like these - eventually this cushion will run out.
TWF takes care of the investing and managing the funds so that foundations can concentrate more on fundraising. Out of 51 community foundations in Manitoba, 38 invest with TWF and 23 of them are affiliate members. The board of the CACF feels they have made a positive step for the future of the Carberry and Area Community Foundation. The board is excited for the benefits that are to come to our community and looks forward to their new relationship with TWF.