Endowment Funds
What is an Endowment Fund?
An endowment fund is an investment in the future
of Reena - you might
think of it as an RRSP securing vital programs for tomorrow. A named
endowment is a deeply personal statement of who you are, what you believe
in, and who has made an impact in your life.
An endowment fund is, in effect, a savings account - money is permanently
invested and only the income is spent each year in support of the desired
program area.
An endowment fund can be established to support one of four areas:
At Reena, personal endowment funds require a minimum total contribution
of $5,000. Funds are individually named to honour a donor, a family or
a loved one. The endowment agreement between the Foundation and the donor
ensures that the legacy you create today will live in perpetuity and
can continue to fulfill your philanthropic objectives for generations
to come.
With a personal endowment fund, an individual or a family can support
an area of Reena that is most significant to them. For many donors, this
is the Respite and Enrichment Program that positively affects the lives
of thousands of children and their families. It is also the Foundation's
number one fundraising priority, since, for many families, these programs
are life-lines, keeping them healthy and out of crisis. Despite the vital
need for respite amongst many families, the government provides no funding
for these programs. If not for Reena, these families could be left totally
on their own.
You may contribute to your endowment with gifts made during your lifetime
as well as through your estate, as part of your legacy. Every donation
made through the Reena Card Service can help build your fund. Fund holders
can encourage their family and friends to support the fund in lieu of
gifts at milestone celebrations like birthdays and anniversaries. Funding
often takes place over many years (even generations) and may involve
one donor, an entire family, friends, or even from within the community.
Many families personally help build their endowment fund by conducting
a letter-writing campaign amongst their family and friends annually.
Each endowment fund is a permanent living memorial that keeps on giving
to Reena. Although each fund is unique, all of our endowments share one
common element: donors who hope to improve the lives of children with
special needs have created them.
For Further Information
If you would like more information as to how you might open your own
endowment fund, please fill out the following information and we will
send you a package for your review. Or, you can call Gary Sim at the
Reena Foundation Office at
905-764-1081 ext. 29
.
Recognition
All endowment funds at Reena are acknowledged in every issue of Kolreena
as well as in Reena's annual report and on Reena Foundation's website.
Endowment funds are classified as either Full Funding Endowment Funds
or Development Funds.
Funds do not begin granting interest to the area of support until they
reach the $5,000 level. At this point the amount of interest is significant.
Until that time, the interest is reinvested in the principal to help
the fund achieve full granting status sooner.
All Endowment Fund holders are invited to attend the annual Reena Foundation
Endowment Reception where Fund holders receive a report from Reena on
the good work being funded by the funds as well as the chance to meet
like minded individuals. When a fund reaches full granting status, this
achievement is celebrated at this annual reception.
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