Two donors, one anonymous and one deceased, have boosted Powell River Community Foundation’s permanent endowment fund to $800,000.
One of those donations arrived at the foundation’s email account that is administered by secretary Sharon Sawyer.
“I never delete junk mail without reading it first,” Sawyer said. “When I opened one email, it was from a lawyer in White Rock stating that our foundation was the recipient of just under $94,000 according to the will of a former Powell River resident named Eva Gwendolyn Locke.”
Gwen Locke and her husband Alfred, who lived in Powell River for 65 years, operated a shoe store named Locke’s Shoes. They had one child, a daughter who died tragically, at the age of 12, after being accidentally shot by a youngster.
Both Gwen and Alfred spent many years working on behalf of Powell River Exhibition that took place every fall in the Willingdon Arena that was located next to Willingdon Beach on Marine Avenue.
Gwen died in White Rock in 2010 at the age of 91, just months after the death of her husband.
“Obviously she wanted to give something back to the community where she and her husband lived for so many years,” said foundation president Ross Cooper.
Within two weeks of that surprising donation, someone else contacted one of the foundation’s directors personally to set in place a major contribution.
“We’re thrilled with the two large donations we received late last year,” said Cooper. “We couldn’t believe they came within a short time frame.”
He added that the foundation always hopes its message is being heard about how beneficial a local foundation is for a community. “When it actually happens, it puts a smile on my face because of all the good it will do.”
Powell River’s foundation was chartered in 2001 and had grown to $200,000 by 2013. In the beginning, it received matching funds money from Vancouver Foundation, which has over $880 million in assets and generates $46 million annually for grants.
In addition to the matching program, Vancouver Foundation turned over $63,000 that had originally been donated by Clarabelle and Andy Anderson.
The Powell River couple, who ran a sawmill operation in Mowat Bay, never had any children. Upon their death, their estate went to Vancouver Foundation. Once Powell River’s foundation was set up the money, that had been designated by the couple for seniors’ projects, was transferred here.
Vancouver Foundation also matched funds donated in Powell River for three years to help seed the new foundation.
Charlie Tatham, who had been mayor of an Ontario town, together with Cooper’s father, who had worked for Canada Trust, were instrumental in helping set up the local foundation.
Ross Cooper was involved in the early years, then stepped back for a while before rejoining the board and becoming president last year.
Both Cooper and Sawyer were quick to say that every donation amount is appreciated and contributes to the permanent endowment fund.
“Citizens of Powell River are continually making donations to the foundation in memory of friends and family who have passed away,” said Cooper. “Those amounts, when joined together, have enabled us to give over 80 grants to worthwhile, non-profit organizations in our community. The bigger our endowment grows, the more we can assist.”
The latest returns on the foundation assets were 8.6 per cent. “We are community-driven and our funds are held locally through First Credit Union.”
In total there are 11 board members with a growing number of Friends of the Foundation who help on committees. Their goal is to have an endowment fund of $3 million by December 31, 2015.
Cooper recently attended a City of Powell River committee-of-the-whole meeting with a proposal that would help the foundation reach its goal.
He asked council to consider an application to have 10 per cent of the net profits from Powell River Community Forest donated annually to the foundation. If accepted it would require an adjustment to the community forest mandate and bylaws.
“Powell River Community Forest is a gift to the city,” Cooper said at the meeting. “The money generated from that source is doing wonderful things in town and as community members we want that to continue.”
He explained that the foundation wants to look after generations to come with its endowment fund. “Funds deposited today will be there five, 10, 40 and 80 years from now.”
He called on councillors, who make decisions for today’s challenges, to make a decision for tomorrow’s challenges.
“We feel that 10 per cent will build into something very worthwhile in a relatively short period of time,” Cooper added, “and substantial in the long term, without gutting the good work that the community forest does each year.”
He said when he was reviewing material about the community forest model he read a handbook that was mostly funded by the Vancouver Foundation. “Several community foundations have been initiated from funds from their local community forests. This is a natural partnering as both groups believe in sustainability.”
Cooper said additional funds are expected to come to the foundation as more people put the foundation into their estate plans. “We are so grateful to be considered.”
The community foundation is currently entering its next granting cycle with applications closing on March 22. There are six fields of interest for which applications can be made: arts and culture, children and youth, education, environment and parks, health and welfare and seniors.
“We love to give out money,” said Cooper, “and we love to give out as much money as we possibility can based on the interest generated by the principal. We have big dreams for our foundation.”
Readers can find out more about the foundation or how to apply for a grant by going online.
