The Phoenix Foundation of the Boundary Communities will be celebrating its 15th anniversary tomorrow (Nov. 8).
Established in 1997, the foundation was created by a group of community people who saw a need to fill the gap in funding for community organizations.
Executive director Mona Mattei noted that the Boundary region is quite small when compared to other regions in the province.
“Whenever a local non-profit organization applies for a grant, they’re always competing against huge organizations and huge numbers of organizations if they are applying for a provincial or federal funding,” she said. “What they were seeing is that small community organizations were not getting the funding support that they need.”
The aim of the Phoenix Foundation is to hold money in an endowment fund that is held in perpetuity, meaning the money is never taken out of the bank and that everything is done through donations and corporate sponsors.
“Investment funds will then invest the money on behalf of the community and manage that investment,” Mattei said. “Every year we take the returns from that investment and give it back to the community. It allows for small level grants right across the region to support the work that they do.”
Mattei pointed out that the Phoenix Foundation is a success story in Canada.
“We’re the little foundation that could,” she said. “We have one of the highest per population rates of donation of any community foundation in Canada and our community has been incredibly supportive. ”
Over the past 15 years, the Phoenix Foundation has given $800,000 back to the community through grants from their investment funds and hosting bursary funding. Bursary funding is when grants enter the community but need to be housed somewhere before it can be given to its recipients.
Board chair Christine Thompson noted some organizations that have received grants include Gallery 2, Boundary Restorative Justice, and the Boundary Community Food Bank.
“Along with the many organizations, graduating students also benefit from scholarships,” she said. “We want to continue to grow our funds and we certainly welcome anyone in the community who would like to donate to the foundation. It’s a way to benefit the community.”
Mattei pointed out this year focused on re-establishing the group’s board, but next year will be a more strategic year that will establish everyone’s role.
“We want to continue to work with our corporate sponsors and to develop their involvement in our foundation,” Mattei concluded. “We look forward to increasing our investment abilities to help the community.”
The Phoenix Foundation will be hosting their annual social to celebrate their 15th anniversary tomorrow night at Gallery 2 starting at 6:30 p.m. A presentation from the Hope Lady, Wendy Edey, will begin at 7 p.m.
For more information, visit phoenix-foundation.net.