Township intrigued by foundation model

Posted Feb 2, 2012 By Bill Freeman

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EMC News -Havelock - The Cavan Monaghan and Millbrook Legacy Fund has piqued the interest of township council.

The Legacy Fund is a permanent endowment within the Community Foundation of Greater Peterborough (CFGP) created by and for the people of Cavan Monaghan, it was one of the initiatives that CFGP founding executive director Andrea Dicks spoke about during a visit to local councils.

"The people of Cavan Monaghan wanted to create a fund to allow local contributions to stay in that community, to create a legacy in that area," Dicks explained.

"The fund encourages those charitable dollars to stay in that community. It allows the residents who really love that community to give back in a way they couldn't before (and) they are contributing to the quality of life in the township.

"It's very specific and unique."

Dicks last visited HBM in 2010 to talk about the fiveyear-old foundation which had its genesis within the Peterborough Affordable Housing Foundation, it made its first grants in 2008.

"We're dedicated to improving the lives of people in the city and county through local giving, grant-making and community development initiatives," Dicks said.

The CFGP is part of a "broader" 90-year-old Canada-wide movement that includes 75 community foundations with access to $3 billion in assets, those foundations disburse $100 million a year back into communities through grants and programs that support charities.

Last year the CFGP's board issued $50,000 in grants.

Dicks talked a little about the CFGP's "pillars," fundbuilding, grant making and community leadership.

Funds are created through donations from individuals, groups, families, corporations and non-profit organizations and are invested strategically with the annual return given back to recipients in grants.

"It's through the fundbuilding that we are able to offer a variety of vehicles to make donations that much more effective and powerful," Dicks said.

The Cavan Monaghan and Millbrook Legacy Fund was one such vehicle, the Housing Fund created in 2011 is another.

The Housing Fund mirrors the CFGP's history and pays "tribute to the legacy we have in the community."

The recipient will change on an annual basis but will always be supporting a housing project.

The second pillar, grant-making, is the "fun stuff," says Dicks.

The grants can be at the discretion of the donor but are also issued through a transparent application process overseen by a grant task force made up of community members.

Over 40 organizations were impacted by grant dollars last year, she said.

"It was incredible."

Community leadership "can mean many things," Dicks says, and last year included a "top quality" philanthropy forum, a day of "networking, education and inspiration" for volunteers and non-profit groups. There was also an evening at Market Hall with Warren Buffet's son Peter.

The CFGP is planning a "community needs funders" forum to discuss how "they can make grant-making stronger tougher."

"We need to be strategic about addressing the real needs of the community and how we can ensure that the grant-making we're doing is the best," said Dicks.

"I hope that at some point you work with us here in our township," Deputy-mayor Andy Sharpe said.

What Cavan Monaghan is doing is "a great success story," he said.

"I look at our township and we see different groups somewhat struggling for money. I see this as a way of changing that, changing the way funds are raised."







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