North Coal donates to local community funds.
The Free Press
Today North Coal Limited presented $5000 donations to the Elkford, Sparwood and Fernie Community Funds. The community funds, put in place by the Community Foundation of the Kootenay Rockies (CFKR), provide grants to local organizations.
Each community fund in the Elk Valley aims to provide grants to the widest possible range of organizations and initiatives including animal welfare, arts, culture, heritage, education, environment, mental health, addictions, and more.
North Coal said they were proud to contribute to the local CFKR Community Funds.
“This program speaks to sustainability and long-term planning, things that North Coal values,” said North Coal president, John Pumphrey. “The local steering committees understand local needs and can assist where needed.”
In the fall of 2016, CFKR established the community funds in Sparwood and Fernie, followed by the launch of the Elkford Community Fund two years later. Each was built through a combination of local donations and two matching donations, one from an anonymous donor and another from Columbia Basin Trust.
Earning interest, these funds will continue to provide grants to local non-profits every year, forever. CFKR holds funds for each of the Elk Valley communities, which are included in CFKR’s overall portfolio of $2.5M in 37 permanently invested endowment funds.
“The Community Foundation uses expert managers to pool and invest the funds, generating ongoing financial returns that get allocated each year,” explained Lynnette Wray, CFKR Executive Director. “The donor gets the charitable tax receipt, and we take care of all the administrative burden.”
According to Wray, the Community Funds in Elkford, Sparwood, and Fernie each total over $100,000 and will each grant approximately $3,000 to local non-profits in their communities in 2020.
“When you care about your community and want your donation to have a lasting impact, a donation to your local Community Fund is a great way to give back, right where you live,” she said.
The grant application process for each of the Elkford, Sparwood, and Fernie Community Funds opens on January 1 and closes on March 1. Visit www.cfkrockies.ca/grants/ to learn more.