Charities score big bucks
Brendan Kergin - Jun 19, 2020 - Get Involved

Photo: Contributed

In a time when donations to non-profits are down, the BC Interior Community Foundation interest cheques are a welcome sight.

Three were presented on Thursday, with more than $35,500 going to the Kamloops Brain Injury Association (KBIA) and the provincial brain injury alliance, $12,570 to Western Canada Theatre and nearly $41,600 to the Kamloops Symphony.

“Donations to non-profits are down, and so getting this and knowing it’s coming every year is helpful,” KBIA executive director Dave Johnson said.

The KBIA has had to move its biggest annual fundraiser, the Gur Singh Memorial Golf Tournament, online.

Daniel Mills, the executive director at the symphony, is grateful as well.

“This money is great, especially right now when there’s so much uncertainty,” he says.

“To have such stable funding I feel very grateful, including Kathy (Humphries), my predecessor who set up this endowment before,” he added.

Humphries, who’s a long-serving board member at the foundation, was on hand for the cheque ceremony, along with the foundation’s executive director, Robert Miller.

The foundation, which started in 1984 and was known as the Kamloops Foundation until 2015, holds endowed funds, Miller explained. As part of their regulations, they ensure 3.5% interest; while the principal money stays with the foundation, each year stakeholder charities get a cheque made up of the interest.

“We have over 220 endowed funds and every year we provide interest cheques to different stakeholder charities who have funds with us or are benefiting from the interest monies,” Miller said.

Currently, the foundation is responsible for approximately $10 million in endowed funds.

“In terms of the charitable model, we’re the best value,” Miller said. “The monies will grow forever; it’s a great way to provide legacy giving.”


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