As local charitable organizations continue to fill ever-growing demands, the issues of financial stability and sustainability have become increasingly important to their long-term survival and ability to meet their mandates, as well as the ultimate well-being of the community at large. As there are only so many charitable donations and sources of government funding to go around, many local charities are seriously considering and taking steps to establish endowments, which is a proven way to ensure a stable stream of funding for years to come.
With an enviable track record of responsible fiscal management and financial stewardship, the Community Foundation of Ottawa is uniquely positioned to help charities respond to some of the key challenges involved in planning for the future. Priding itself on being a long-standing community partner, knowledgeable grantmaker, and trusted endowment manager on behalf of hundreds of donors and organizations, the Community Foundation is a logical solution for agencies looking to move beyond operating reserves. Without any administrative burden on their part, charities are able to establish organizational endowments with the Foundation that provide them with access to its renowned investment expertise, along with the diversification that comes with participating in a pooled $100-million investment portfolio. The Foundation is also well-positioned to offer advice and insight based on years of facilitating legacy and complex gifts to help charities grow their assets.
Understanding the challenges non-profits face in securing ongoing core funding, the Community Foundation reached out to close to 500 local and regional charitable organizations in 2014 to raise awareness of the opportunities related to establishing an endowment fund. “Instead of being able to focus exclusively on serving the needs of their constituency, many organizations are constantly struggling to make ends meet, which takes up far too much of their valuable time and resources each year,” says Marco Pagani, President of the Community Foundation of Ottawa. “Establishing organizational endowments gives charities the comfort of knowing that their long-term financial picture is improving year by year, freeing them up to concentrate on the vital work of serving their communities and improving the quality of life of their constituents.”
Aside from benefiting from the Foundation’s successful track record of managing endowments for close to 200 diverse Ottawa-area charities, organizations also benefit from a stellar Investment Committee, including world-renowned and respected experts such as former Governor of the Bank of Canada Gordon Thiessen and former Auditor General of Canada Denis Desautels. Not only has the Foundation achieved consistently strong investment returns under their leadership, but it has also become the first public foundation in Canada to sign on to the United Nations Principles for Responsible Investing, allowing it to more closely align its philanthropic mission with its investment policy and practices.
For more information about establishing an Organizational Endowment, contact Dan Brunette at dbrunette@cfo-fco.ca / 613-236-1616, ext. 224.
The following is a list of Organizational Endowments that have been established with the Community Foundation of Ottawa over the last year:
2014:
• Beth Donovan Hospice Fund
• Class of 2014 Legacy Fund (Elmwood School)
• Child Haven Diamond Jubilee Endowment Fund: READ THEIR STORY HERE
• Mississippi Valley Textile Museum Foundation
• Daryl and Barbara Hodgins Fund (Ottawa Chamber Music Society)
2015:
• Archdiocese of Ottawa Term Endowment Fund
• Archdiocese of Ottawa Permanent Endowment Fund
• Elizabeth Fry Society of Ottawa Fund
• John Howard Society of Ottawa Fund
• Fonds Maison Marie-Louise
• Mike McPhail Fund (Mississippi Valley Field Naturalists)
• Students on Ice Foundation Endowment Fund/Fonds de Dotation de la Fondation des étudiants sur glace