The KW Community Foundation and Cambridge North Dumfries Community Foundation have declared their intent to merge into one community foundation and hope to have the full process completed by this summer.
The unified organization would help build and manage endowment funds, providing grants to local causes or charities.
Lori Payne, Chair of KWCF stated the intent to become one community foundation in a press release in late February. They are currently in the second phase of the process, which includes the development of a business plan and a transition plan.
“We are building on the natural and long-standing relationships we have between our organizations and collectively across the region,” said Mike Braga, Chair of CNDCF in the release.
Currently looking for its next President and CEO, the new community foundation is looking for someone to bring in new ideas, oversee the unification and play a key role in the new foundation’s success.
Together the organizations collect donations from individuals, companies and organizations to invest into a permanent endowment fund which generates income that is then distributed to support a broad range of charitable causes within our community.
The goal is to support a wide range of initiatives that sustain and improve the quality of life.
Since 1998, the CNDCF has provided about $5.5 million in grants since 1998 and manages assets of $15.3 million.
KWCF holds over $133 Million in total assets under management and has approved grants of more than $61 million since its inception in 1984.
Some of CNDCF’s grants detailed in their annual report in 2019, included a grant for $1,500 to the Women's Crisis Services of Waterloo Region, a $1,500 grant to the Fiddlesticks Community Centre, $1,000 to Drayton Entertainment and $950 to Reep Green Solutions.
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