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Community Foundation of Portage and District Inc. January 2009 update: Oakville & District Endowment Fund under the
Portage & District Foundation has reached a total of $78,263.00. We wish
to thank everyone who has generously donated to the fund. The Donations
are held in trust and a minimum of 3.5% comes back to the community from the
interest. Donations can also be made in memory of a loved one.
The 2007 Annual Report is dedicated to Oakville Community Leaders, Oakville Village Committee and Donors Congratulations to Oakville Community leaders and the Oakville Village Committee for having the foresight to create a permanent endowment fund for the community of Oakville and District within the Community Foundation of Portage and District Inc. Endowment Fund. The goal of the fund is to support the activities of
Oakville Background In June 2007, the village committee created the Oakville & District Community Endowment Fund within the CFPD's Endowment fund. The advantages of establishing a fund within the existing community were numerous as well helping to avoid the administrative and management hassles and expenses involved in starting and maintaining a community foundation. A challenge was put forth at that meeting; challenging past and present residents of Oakville and area. The $50,000 gifted to the Community of Oakville from the Blair Morrison Estate will be used to match the dollars received from individuals, groups and businesses. The goal is to continue to build the Oakville Fund. The Government requires that 3.5% of the Fund be distributed in the form of grants yearly. The principal is never spent, only the interest is used for grantmaking. In June each year the CFPD will issue a cheque to the Oakville Community Club Inc for projects in Oakville and district. As the fund grows so does the amount available for grants for worthy projects. The dollars will be used to support sports and other recreational activities in Oakville and district. By December 31, 2007 the Oakville Fund had grown to $67,463 which includes the Blair Morrison Estate final installment of $40,000. Another $32,537 is needed to meet the goal of having $100,000 in the Oakville Fund. The challenge is ongoing and it is hoped that it will be near completion by the end of 2008. Now that the Oakville Fund is open; named funds can be created within the Oakville Fund with gifts of $5,000 that can be built over time. For further information please contact the Oakville representative Len Essay. |
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ŠOakville, MB 2006-2012 Contact: webmaster@oakville-mb.ca |
