News releases
April 18, 2008
2007 marks good year for Saskatoon Community Foundation
Saskatoon Community Foundation released its 2007 Annual Report today, outlining a successful past year. Some highlights:
- Donations reached $2.9 million, the highest level in the history of the Foundation and an increase of 81% from 2006
- Endowed assets grew to $17.5 million. In addition, the Foundation manages $5.3 million of non-endowed funds on behalf of charities, bringing the Foundation’s total assets to $22.9 million. The total number of funds managed by the Foundation grew to 168, an increase of 13.5%.
- The Foundation reached a new record in grant-making, with grants totaling $812,000. More than 140 charitable organizations received 247 grants.
- This past year volunteers successfully staged the Mayor’s Inaugural Cultural Gala. The net proceeds of $197,000 established two new funds at the Foundation.
On a less positive note, investment returns were down following a turbulent year in the market. Returns for the year were 1.6%, compared to 10.89% in 2006.
Susan Milburn, 2007 Chair of the Foundation’s Board, emphasizes that the Foundation has achieved 7% in average annual returns over the past ten years. “We focus on long term results and protecting the capital. Our donors have entrusted the Foundation to produce steady results that support their philanthropic goals. We take our responsibility to donors and charities very seriously. ”
Community foundations build and manage permanent endowments to support local charities. They are one of the world's fastest growing philanthropic movements, with more than 1,100 foundations in 42 countries. In Canada, 163 community foundations manage more than $3 billion in assets--a permanent nest egg for Canadian communities.
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For more information:
Trevor Forrest
Executive Director
Saskatoon Community Foundation
(306) 665-1768