KENILWORTH – The Township of Wellington North is taking the next step to create a legacy of support for the local community.
On Feb. 10, the Township of Wellington North announced a partnership with the Centre Wellington Community Foundation (CWCF) by donating $50,000 to set up two new endowed funds of $25,000 each.
Both funds will support a broad range of initiatives and grassroots projects. The Wellington North Community Fund will focus on supporting the Wellington North community at large, and the Wellington North Youth Fund will do the same but focus specifically on youth initiatives in Wellington North.
Wellington North economic development officer Dale Small said “community foundations are part of our overall investment attraction strategy and we believe that partnering with the Centre Wellington Community Foundation provides us with a great opportunity to obtain the benefits of having a community foundation without having to establish our own.”
Small noted that in December 2019, council approved establishing the partnership with CWCF.
He thanked CWCF executive director Raymond Soucy and the CWCF board for sharing their expertise.
Soucy congratulated Wellington North on its decision to support this long-term vision to build a legacy for Wellington North.
On behalf of CWCF board chair Randall Howard, Soucy added, “We applaud the vision of the Township of Wellington North in wanting to increase the capacity to support local philanthropy in their community.”
“As part of the national Community Foundations movement, we are delighted to be a catalyst in ensuring that every Canadian has access to a local community foundation,” Howard added.
Soucy said the funds will provide the opportunity for community-minded citizens and businesses to participate and contribute, thereby increasing their impact.
“One of the challenges small rural communities face is obtaining new investment and at the same time ensuring we have the mechanisms in place to keep current wealth from leaving the community,” said Wellington North Mayor Andy Lennox in a prepared statement.
He added, “One of the mechanisms many communities use is to establish a community foundation and we are pleased to be able to leverage the knowledge and experience of the Centre Wellington Community Foundation to bring this opportunity to our residents.”
CWCF currently manages 20 endowed funds. This seed capital will be invested for the long term, and the income from those investments will provide grants in support of the work in Wellington North by registered charities. Since the original investment is not spent, the two funds will be able to provide grants to the community on a perpetual basis.
“Citizens and businesses who are passionate about Wellington North have the opportunity to help grow these funds by donating to one or both – together we can achieve the long term goal of supporting charitable initiatives that benefit the citizens of Wellington North,” added Soucy.
“This is a real opportunity for people to leave a legacy to their community. The more we can grow these two funds, the more good we can do in Wellington North for years to come.”
Those interested in knowing more about this opportunity in Wellington North are encouraged to contact the township or CWCF.