Five-thousand-dollars in municipal seed money marks the beginning of a new Kincardine Community Fund.
The municipality and the Community Foundations Grey Bruce are partnering on the initiative.
The fund is aimed at helping regional donors make a personal significant impact on the future of their community.
A permanent endowment will support innovative not profit projects and programs.
Councillor Andrew White will lead the fund management committee, with the help of two local citizens.
Donations will be managed and invested with the pool of Community Foundation Grey Bruce endowment funds.
The income will be distributed to qualified not for profit organization each year within the municipality.
All capital donations remain untouched and invested in perpetuity, creating a sustainable source of funding for the community and an opportunity for donors to create a lasting legacy.
All donation will be eligible for a full tax receipt.
“Council’s decision to establish the Kincardine Community Fund is a demonstration of forward thinking. A permanent fund means that the community’s non-profit organizations will have a source of grant funds that does not rely on the municipal budget or tax base. It is an exciting opportunity for community members and stakeholders to create a legacy which recognizes and supports the important work of our charities and their tireless volunteers,” says White.
