What does the Foundation actually do?
- Receives Donations and Bequests
- Manages each Fund - Each nominated or special purpose fund is separately monitored and accounted for. The capital of each Fund is combined with all other Funds (to achieve economies of scale) and invested as part of the whole. The Foundation has an Investment Advisory Committee whose main role is to manage the Foundation investments. The members of the Investment Advisory Committee are professional, astute investors who offer their expertise at no cost. In making their recommendations to the Board the Committee is guided by the Investment Policy as set out in our Policy Manual.
- Makes distributions - Distributions from each Fund are made on an annual basis.
- The Foundation makes these distributions in accordance with any instructions which have been given by the Donor. Where the donation is wholly or partially untagged, the Foundation makes the decision as to where the distributions are to be made. The Foundation has a Grants Committee whose main role is to advise on these distributions. This Committee receives applications throughout the year, investigates and considers these applications and makes recommendations to the Foundation Board as to how the available funds shall be distributed. All distributions are approved by the Board of Trustees.
- Promotes generosity - The Foundation’s principal role is to promote the concept of people “giving back” to the community. We encourage the concept of giving through the Foundation as a means of sustained and ongoing benefit to our community.