Dufferin Community Foundation has reached the $1 million milestone following generous donations from two Dufferin County families.
The local charitable organization made the announcement on Nov. 26 that their invest funds had exceeded $1.25 million, meaning up to $30,000 will be available for local charities in 2022 and rising to approximately $50,000 a year beginning in 2023.
“We are grateful to these families for establishing funds for our community,” said Gord Gallaugher, president of Dufferin Community Foundation. “They care deeply about the well-being of residents in Dufferin County and know that their fund will help countess people now and for generations to come.”
The donations from the two families were made through the Dufferin Community Foundation’s Donor-Advised Fund Program. In each case, families set up a named fund to support the cause and charities they care about the most.
The two new funds the DCF is adding to their donor-advised funds are the Woodlot Endowment Fund and The Cedar Fund.
The Woodlot Endowment Fund, established courtesy of Julie, Steven, Cameron and James Wood of Mono, was created to support “physical, mental, and emotional well-being post-secondary school education and the arts.”
“Our family has been active in the Dufferin Community since 1997, benefiting from, and contributing to local charities, not-for-profits and community initiatives,” said Steven Wood. “We wanted to make a lasting commitment that would have an impact.”
The Cedar Fund, established by a local family who wishes to remain anonymous, will have its contributions directed to poverty relief, as well as women’s and children’s health.
“We were raised in Dufferin County with a strong sense of the importance, and responsibility of giving generously to help people in need and to make our community stronger. We are excited by what the Foundation is building and honoured to be part of it,” said the family.
Dufferin Community Foundation now has three donor-advised funds invested with the foundation. The Greenwood Family previously created a fund to focus on learning enrichment for children and youth, especially for families living in poverty.
Dufferin Community Foundation, was created three years ago as a way to provide more sustainable support for local charitable work. Described as a “forever fund” donations are invested into permanent funds that earn an annual income, which in turn the foundation uses to provide grants to local charities every year.
In addition to their donor-advised fund program, DCF also offers residents the option of donating to its five “field of interest” funds which include the Vision Fund (helps meet the community’s most urgent needs), the Arts, Culture & Heritage Fund, the Emergency Fund, the Mulmur Fund, and the Environment Fund.
“A donor-advised fund has all the benefits of a private foundation in that the family advises us where they want their contributions to go,” said Gallaugher. “But, it’s much more hassle-free. We look after the audits, accounting, and legal requirements so they can focus on the good they want to do in the community.”
Dufferin Community Foundation has a goal of raising $10 million in total invested funds over a 10 year span. Surpassing the $1 million milestone, the charitable group has seven years to raise the remainder. With $10 million in endowment, DCF will be able to generate about $400,000 in income annually to disperse to charities within Dufferin County.
Paula Brown, Local Journalism Initiative Reporter, Shelburne Free Press