Ladysmith Community Fund
Building a Community Fund for Ladysmith
The Nanaimo Foundation is excited to work with Ladysmith residents to establish a dedicated fund for the community.
In celebration of our country’s 150th birthday, the Governor General of Canada set the important goal of every Canadian community having access to a community foundation by 2017.
Community foundations play a crucial role in supporting the vibrancy and health of communities. Across the country we are connected by our national network—the Community Foundations of Canada. Together, we invest in building strong and resilient places to live, work and play. We activate the power of our entire network to expand our impact and tackle some of the most complex community issues over the long-term.
Ladysmith has access to a community foundation as one of the five communities the Nanaimo Foundation serves. The Nanaimo Foundation is now focused on increasing the support it provides to Ladysmith by establishing the Ladysmith Community Fund.
The idea of the Ladysmith Community Fund began with a conversation between Ladysmith resident Bruce Whittington and the Nanaimo Foundation. Understanding the important role community foundations play in supporting strong communities, Whittington approached the Nanaimo Foundation and together we began exploring ways to increase support to Ladysmith.
Establishing designated community funds under the umbrella of a community foundation is a practice that has been used across Canada to best serve the needs of each unique community. Case studies conducted by the Community Foundations of Canada on community funds held within BC foundations highlight the benefits of having the privileges of a community foundation without having all the costs and administrative responsibilities. To read these case studies click here.
Guided by and created for the people of Ladysmith
The purpose of the Ladysmith Community Fund is to make meaningful and lasting impacts in Ladysmith both now and forever. This Fund is focused on building a permanent endowment for the community and making strategic grants within Ladysmith to help ensure that community needs are addressed both now and into the future.
The Ladysmith Advisory Committee
The Ladysmith Community Fund will be guided by a committee of local citizens. The disbursement of grants from the Ladysmith Fund will be led by the Ladysmith Advisory Committee. The committee will assess community trends and priorities and make granting recommendations to address current and emerging community needs in Ladysmith.
The committee will receive support from and work in liaison with the Nanaimo Foundation board and staff to establish the Ladysmith Community Fund and make grants.
If you are interested in learning more about the Ladysmith Advisory Committee, or joining the committee please contact Laurie Bienert at 250-667-4292 or [email protected]
Support from the Nanaimo Foundation
The Nanaimo Foundation provided its first grant in Ladysmith in 1987 and has supported charitable organizations in the Ladysmith community for more than 30 years.
Community foundations work with and give grants to charities in support of all areas of a community. We manage charitable gifts from donors whose generosity allows us to create permanent, income-earning funds, which are distributed to address community needs. A gift to the Ladysmith Community Fund – and all future earnings from your gift – is a permanent source of community capital.
Community foundations multiply the impact of donations by pooling them with other gifts, providing economies of scale benefits of a diverse investment portfolio and low investment fees that typically come only with very large funds. The Nanaimo Foundation can facilitate even the most complex planned gifts or gifts of appreciated stock or real estate. Donors can leave a bequest to the Ladysmith Community Fund to create a personal legacy and benefit the community forever.
The Nanaimo Foundation has the capacity to handle all of the administrative responsibilities and investment management related to the Ladysmith Fund, such as financial reporting, tax filing, administrative infrastructure, granting administration, fund agreements, and liability; providing the Ladysmith Advisory Committee the option of focusing on key activities.
For more information please contact Laurie Bienert at 250-667-4292 or [email protected]