 Our Speaker, Eva Friesen |
| Past-president Eva Friesen's presentation launched our club's Foundations month with an informative presentation on The Power of Foundation Giving. Foundations are registered charities, and three types of foundations are recognized in Canada: private, public, and charitable organizations. Foundations are established to create lasting legacies, and are often created through wills. Rotarians in Calgary can support two foundations: The Rotary Foundation (TRF) and the Calgary Rotary Clubs Foundation. The CRCF, established in 1972, currently enjoys the participation of twelve Rotary clubs located in the city. The CRCF is a funding foundation, not a granting organization, which manages funds on behalf of the twelve member clubs. Funds are distributed annually to Calgary's Rotary clubs in proportion to their share of the overall fund. The clubs are then tasked to donate these funds to worthy charitable organizations. Since inception, over $20 million has been reinvested through the Calgary Rotary Clubs. |
The Canada Revenue Agency's disbursement quota is the minimum amount a registered charity is required to spend each year on its own charitable activities, or, in the case of the CRCF, the amount returned to Calgary Rotary clubs to fund their giving. While the CRA requires charitable organizations to disburse at least 3.5 per cent of their asset's vale, the disbursement rate for the CRCF is actually closer to 5 per cent. The Total 2018 CRCF distribution will total approximately $2 million.
The CFCF exists fundamentally to build a community to which all Calgarians can proudly belong. It does this to build an endowment that meets the needs of Calgarians today, and in the future. It is this "why" that motivates people to give. The ongoing challenges facing the CRCF include improving transparency and trust, measuring the difference the money makes (its "impact"), and relevance. It is important for the CRCF to stay in touch with its "why".
Following Eva's presentation, Sid Mark provided an update on the activities of the Foundations Committee. He thanked the committee's members for their efforts, and outlined the details of the 2018 disbursement received from the CRCF, which is 8 per cent higher than the 2017 disbursement.
Mark Starratt announced some of the upcoming events to mark Foundations month. Over the next few weeks pins and commemorative items will be given to new and "level up" Paul Harris Fellows, and the Mayhood Honour Roll will be displayed at each of our meetings. There will also be a number of planned giving seminars offered to club members who may be considering setting up bequests for legacy giving.