It’s official! Quadra Island Foundation has made its first investment – and with it, launched a permanent fund for future community benefit.
In December, the local community foundation invested $10,000 through the Vancouver Foundation’s Socially Responsible Investment Fund.
“This investment launches QIF’s permanent endowment fund,” says Mich Hirano, treasurer for the volunteer board. “It’s a significant achievement to be able to do this, and it’s possible because of the generosity of local donors. We thank everyone who has contributed to this financial legacy that will support a variety of local needs through the income it generates.”
“Our focus will now turn to building that endowment fund,” says board chair Michael Mascall. “The more money we have in our endowment fund, the more investment income we’ll generate, and that will eventually be available as grants to directly benefit the people, culture and natural environment of our community.”
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As the trustee holding the funds, the Vancouver Foundation will pay out income from QIF’s investments annually, starting in fall 2022.
“We’ve had great response from a number of community members already and hope that establishing an endowment fund through the Vancouver Foundation will encourage even more people to support QIF’s fundraising efforts,” says board secretary Matthew Kelly, adding that, because QIF is a charitable organization, donations are eligible for a tax receipt.
“Gifts can be made in support of a specific cause or in memory of someone, or just to give back,” says Jody Rodgers. “Gifts can be a financial donation now, or something written into your will, including donation of property.”
“All contributions make a lasting difference for a stronger Quadra community, this very special place we call home,” adds Julie Douglas.
A QIF website is in the works. In the meantime, anyone interested in learning more about how to support QIF, including with an estate gift, can send email to info@quadraislandfoundation.ca, or direct telephone inquires to Michael Mascall at 250.202.1968 or Mich Hirano at 250.285.3060.
People are also welcome to contact the local board members (Michael Mascall, Mich Hirano, Matthew Kelly, Jody Rodgers and Julie Douglas) with inquiries.