As of September 2021, Community Foundation Grey Bruce holds over 160 endowed funds. An endowment is a fund that holds its principal in perpetuity and is invested to generate income to be spent for a specific purpose; in this case, to provide grants to support non-profit organizations to improve the quality of life in Grey & Bruce Counties. An endowed fund is typically a fund that is maintained on a long term basis.
Each endowed fund is as unique as its funder. Some endowed funds support the fundholder’s favourite charity, such as the local chapter of the Cancer Society or Friends of Hibou Park. Other funds provide grants in areas that are near and dear to the fundholder’s heart – for instance grants for projects to assist disadvantaged children or scholarships for students entering the healthcare field. Some funds are created in memory of a loved one; other are created by non-profit organizations who want to have access to funding for their projects in perpetuity.
Under special circumstances, the Foundation will also allow endowed funds to hold Flow through funds. This type of fund has a 2 year limit and has to be first approved by the Board of Directors. A flow-through fund is a fund that is not intended to be held on a long-term basis. In this case, the fund can be fully distributed by the Foundation and may be immediately distributed.
A spend-down fund is similar to a flow-through fund in that it is time limited. It may exist for a certain number of years before it is fully distributed or it may be distributed on a schedule, such as equal installments over a certain number of years.
Following is a list of the funds held by Community Foundation Grey Bruce.