What is the Olds Institute Community Legacy Fund?
The Community Legacy Fund is an investment pool composed of funds that have been donated by both individuals and organizations – a savings account for the community. As a registered charity, donations received by the fund will be permanently invested and each year certain amounts are withdrawn according to the spending policy to fund worthy community projects. These annual withdrawals will fund a wide range of projects and initiatives.
What is the purpose of the fund?
The fund is committed to the improvement of the community of Olds. Its purpose is to grow until it is large enough to generate interest that can be distributed to charitable organizations and projects in our community in future years. The magic of the Community Legacy Fund is that it brings benefits not just for this generation, but also for future generations.
How did the fund begin?
The Community Legacy Fund was created out of the Olds Endowment Fund, in partnership with the Red Deer Foundation. This partnership allows for the Red Deer Foundation to manage the administration of the fund, while the Community Lifestyles Committee of the Olds Institute focuses on supporting social development projects. The concept was simple; Individuals would be invited to donate funds, and each year the income from the interest on the combined donations would be used to support community initiatives that focused on the betterment of Olds, allowing for more financial independence from existing systems.
Will your money stay in the Community?
All donations are deposited in a dedicated fund for the Community Legacy Fund. All disbursements from this fund are returned to the Olds community. The Board of Directors of the Olds Institute for Community & Regional Development will decide annually how interest earned will be utilized within the community.
How to Donate
- Make an outright contribution of cash
- Leave a bequest to the Community Legacy Fund as part of your estate planning
- Make a gift to celebrate a milestone or family event such as an anniversary
- A transferred gift of publicly traded securities will reduce the tax you would otherwise pay by 100%
- Donate a life insurance policy and receive a tax receipt for the annual premiums
Who can Donate?
Anyone can donate to the Community Legacy Fund. This could be done as part of an individuals regular giving, as a memorial donation, a one time gift or as a bequest. Charitable tax receipts will be issued for donations of $20.00 or more.
For more information about the Olds Institute Community Legacy Fund, or to donate, please contact:
Community Lifestyles Committee
#1 5102 51 ST, Olds, Alberta Canada T4H 1P8
phone: (403) 556-1105
Red Deer & District Community Foundation
Suite 203, 4805-48 Street Red Deer, AB T4N 1S6
Legacy Fund Grant Request Form
Please note: Funds for 2019 will be carried over to 2020. Please apply next year.
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Are you interested in joining us to make your community better and helping our committee become successful?
Call us at the Olds Institutes office at: 403-556-1105 or email us at: firstname.lastname@example.org