Agency Charitable Fund
Saskatoon Community Foundation’s endowed Charitable Funds create a lasting legacy for all Saskatoon charities. Individual charities can also harness the power of endowments by creating their own endowed funds. Charities may have some surplus funds with which to start their endowment or A major supporter may make a contribution that can be contributed to an endowment. They may even run a fundraising campaign to build an endowment. Once it has been started, the agency can continue to grow its endowment over time. No matter how large or small the fund is, the contributions are held in perpetuity by the Saskatoon Community Foundation, and the income from the fund creates a permanent source of stability and future income for the agency.
Stability is the main reason to have an endowment. Small and new charities often think only about the current fiscal year or the next payroll. It is important to get out of that financial trap as soon as possible. An endowment helps diversify an organization’s income and reduces their dependence on other sources.
Having an Agency Charitable Fund can be enormously comforting to donors as well. It shows that the agency plans to be around for a long time. It also gives donors an opportunity to provide a gift that will keep on giving into the future, rather than only addressing the needs of the moment.
Once contributed, gifts to the agency’s fund are held forever. They are protected from the ups and downs of charity funding. Future boards cannot recall the funds for use on current projects. Instead, the agency now has a source of income that can be relied on and used at its discretion. Just think how an endowment could strengthen an agency and protect it against changes in federal, provincial or other funds. Imagine how strong our community would be if every charity had a permanent endowment!