Calgary Foundation
Encyclopedia
The Calgary Foundation is a Canadian
registered charity serving Calgary, Alberta.
The foundation was established by a group of community-minded citizens to meet a wide variety of social, cultural, educational, health, environmental, and community charitable needs in Calgary and the surrounding area. The foundation undertakes this work through the distribution of income from endowment
s and other funds established by donors. The foundation distributes five percent of the market value of each fund on an annual basis. Any income in excess of this, net of administration expenses, is added to the capital of the funds. As of 2007, it had endowments valued at $334 million and granted $33 million to 547 charitable organisations.
that took care of him while serving as a soldier in World War II
and vowed to return the favour one day.
In the early 1960’s foundation received its first infusion of capital when twenty founding donors contributed $5,000 each. These and subsequent gifts to the foundation were pooled and invested. Income was then distributed as grants to local charitable organizations. The first grants were made in 1964 to the United Fund ($1,000) and to Mount Royal College
($500).
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
registered charity serving Calgary, Alberta.
The foundation was established by a group of community-minded citizens to meet a wide variety of social, cultural, educational, health, environmental, and community charitable needs in Calgary and the surrounding area. The foundation undertakes this work through the distribution of income from endowment
Financial endowment
A financial endowment is a transfer of money or property donated to an institution. The total value of an institution's investments is often referred to as the institution's endowment and is typically organized as a public charity, private foundation, or trust....
s and other funds established by donors. The foundation distributes five percent of the market value of each fund on an annual basis. Any income in excess of this, net of administration expenses, is added to the capital of the funds. As of 2007, it had endowments valued at $334 million and granted $33 million to 547 charitable organisations.
History
The Calgary Foundation was founded in 1955 by community leaders like Doug Hawkes. Hawkes remembered the generosity of the Red Cross AgenciesInternational Red Cross and Red Crescent Movement
The International Red Cross and Red Crescent Movement is an international humanitarian movement with approximately 97 million volunteers, members and staff worldwide which was founded to protect human life and health, to ensure respect for all human beings, and to prevent and alleviate human...
that took care of him while serving as a soldier in World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
and vowed to return the favour one day.
In the early 1960’s foundation received its first infusion of capital when twenty founding donors contributed $5,000 each. These and subsequent gifts to the foundation were pooled and invested. Income was then distributed as grants to local charitable organizations. The first grants were made in 1964 to the United Fund ($1,000) and to Mount Royal College
Mount Royal College
Mount Royal University is a public university in Calgary, Alberta, Canada. Founded in 1910 as a primary and secondary school, Mount Royal became a post-secondary institution in 1931 as Mount Royal College offering transfer courses to the University of Alberta and later to the University of Calgary...
($500).