As part of our commitment to ensure that charities in central Alberta receive consistent funding, the Red Deer & District Community Foundation had a busy summer of coordinating disbursement cheques to charities with designated funds.
The total amount of funds returned to community agencies through designated disbursements in 2022 is just over $190,000.00, distributed to 47 organizations. This money is generated by the interest on designated funds, meaning that charities receive disbursement cheques each year, guaranteeing sustainable, long-term funding.
Charities with designated funds are found across all areas including arts and culture, health and wellness, human services, recreation, sports, education, and environmental sectors. Funds are started by agencies themselves, or by individuals looking to make an impact in a certain area, or for a specific charity. The primary benefit of these funds is that disbursements happen annually, providing a steady source of funding for the receiving agency.
“The Community Foundation is focused on helping charities move more towards financial sustainability,” said Erin Peden, Executive Director of the Red Deer & District Community Foundation. “We are so proud of the fact that these endowments are making huge impact year after year by putting tens of thousands of dollars back into this community. It’s a thrill to administer these cheques each year, knowing that these disbursements are helping the Community Foundation to fulfil our mission of strengthening the quality of life in Red Deer and surrounding areas.”
Examples of disbursement recipients include the Legacy Land Trust Endowment, which distributed over $10,000 for conservation efforts, as well as the Care for Kids fund, which distributed over $15,000 to cover children, youth, and family fees in order to increase accessibility for city programs and facilities.
Anyone interested in learning more about designated funds is encouraged to contact Erin Peden at the Red Deer & District Community Foundation.