Over the last eight years the Nakusp and Area Community Foundation (NACF) has distributed nearly $65,000 to local projects – from the food bank, drama school, playground equipment, help for pets, library programs, ski hill, wellness program, to the arts council, the golf club, soccer school, historical society, to fire department training, parkour, and a school milk program.
A community foundation is a pool of money — endowments — carefully invested to produce funds for community projects.
Investment income is distributed as grants to local, charitable organizations. The capital pool is never touched and provides a perpetual source of income that can be used to meet needs in our communities. Once a foundation is established, it continuously generates revenue even if no new donations are received.
In 2003, the Nakusp & Area Development Board provided initial funding of $10,000 which was invested with the Vancouver Foundation and established a system whereby our fund-raising would be matched by the Vancouver group and the Columbia Basin Trust.
In 2005, and again in 2006, the NACF raised $25,000 each year in order to receive matching funds ($50,000 each from the Vancouver Foundation and the CBT) to bring our endowment fund at that point to $160,000, reaching our original goal.
Two businesses have become special partners. The first, Canadian Mountain Holidays made a contribution to be used specifically for environmental projects. In 2009, the Kootenay Savings Credit Union set up a $67,500 fund within the Nakusp & Area Community Foundation for future community projects.
In 2010 NACF was pleased to announce the establishment of the John and Peggy Grigg Endowment Fund with a $10,000 donation from the Halcyon Home Foundation. The fund has been established specifically for projects for seniors.
In these changing times, it is vital for our community to have a self-sustaining funding source. You can support your community by donating to the Nakusp & Area Community Foundation.
The Nakusp & Area Community Foundation is committed to working with other agencies, foundations and organizations.