Deep River and District Community Foundation


History and General Organization

Formation

The Deep River and District Community Foundation (DRDCF) was formed so that those who enjoyed their early years in the area and those who have followed satisfying lives here could show their thanks by returning a benefit to the community and providing support for its future.

A Community Foundation is a locally run public foundation that builds and manages donated endowment funds to support activities in its own area. The local Foundation is one of over 150 Community Foundations across Canada and in 10 years has made disbursements of over $80,000. For information on Community Foundations all across Canada, visit www.community-fdn.ca. Additional information about how donations are made to Community Foundations can be found at the end of the Donating section (see Donating tab).

The DRDCF was incorporated as a Corporation on June 25, 2002 and approved as a Charity by the Canada Revenue Agency in November, 2002.

How the Foundation Works

A Community Foundation differs from most other local charities in that it accepts donations, which are invested in perpetuity, with only the resulting income disbursed annually to local charitable organizations in accordance with established guidelines.

Because the capital is invested in perpetuity, each new donation increases the funds available for investment, so that the total endowment fund keeps growing indefinitely.

The Foundation's community includes Deep River, Laurentian Hills (including Chalk River), Rolphton, Rapides Des Joachims (Swisha), and the United Townships of Head, Clara and Maria.

How Does the Endowment Grow?

The DRDCF has over 130 members who have contributed $100 or more plus many others who have made smaller donations and a number who have contributed many thousands.

Due to the continuing support of the community, DRDCF assets have reached $600,000. Every year the earnings from this accumulating sum is given to local charitable groups who request assistance with their programs.

Many people realise the future sustainability and healthy growth of their communities can only be guaranteed if they personally give back to the groups and organizations that have enriched their lives. Because Community Foundations hold legal charitable status, they give tax receipts for all money donated

At present, the Foundation is operated entirely by unpaid volunteers. To offset expenses in the future, the DRDCF has added a Foundation Development Fund to its endowment to help cover operational expenses of the Foundation. A small percentage of earnings is set aside to cover operating costs. The largest expense is a required Financial Review by a qualified auditor. The annual administrative cost to the DRDCF is currently approximately 0.6% of total assets.

Management of the Foundation

Management of the Foundation is through its volunteer Board of Directors. Anyone interested in helping the foundation may become a member and Directors are elected from among the members.

All donations of $10 or more will receive tax receipts.

The Foundation meets the second Wednesday of each month, at 3pm in the Deep River Town Hall. The general public is welcome to attend – because meeting days and times can occasionally change, please check the website ahead of time.

DRDCF Board of Directors

The DRDCF Board of Directors consists of a number of private citizens representing a range of community interests.

The Board of Directors of the DRDCF consists of the following volunteers:

  • Andrew White, President
  • Hank van der Horn, Vice President
  • Maureen Freeman, Treasurer
  • Kathy Amunds
  • Fraser Ball
  • Mary MacCafferty
  • Fenella Lane
  • Doug Milton
  • Mike Ueltzhoffer
  • Neil Milton, Honorary legal adviser - non voting
  • Jennie Forster, Secretary - non voting

Membership of the DRDCF

Anyone who has donated $100 or more may become a member of the DRDCF.

A member:

  • Has a vote at general meetings of the Foundation and participates in the election of Directors at the Annual General Meeting.
  • Is eligible for election as a Director.
  • May attend meetings of the Board of Directors as an observer and may ask questions (board meetings are currently held in the Deep River Town Hall, the first Wednesday of each month at 3pm).

Summary: Financial Report and Disbursements

In 2011, the endowed holdings of the Foundation reached $600,000. Endowed funds are managed by the Finance Committee of the Board of Directors, and are currently invested in a balanced portfolio (equity and fixed income) under the advisement of Nesbitt Burns.

In the past 10 years, the DRDCF has made almost $80,000 in disbursements to local charities. It has also worked with local organizations to start Agency Funds (see Funds tab for a description) dedicated to improving the organizations. As the endowment grows, disbursements will increase.

The 2011 Financial Statements for the DRDCF can be found here . All 2011 Annual Reports can be found on the Home tab.

Grant Disbursements from the DRDCF in 2011 amounted to $14,815 to the following recipients:

  • Deep River Science Academy
  • Mackenzie Community School Bursary
  • Hulbert Music Scholarship
  • Deep River Science Academy Inreach Project
  • Ski Patrol Defibrillator
  • Hill Park Improvements
  • Library Children's Collection
  • Food Bank