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2013-12-02 at 16:51

New endowment fund means Dilico Children’s Foundation can operate with added stability

By Jodi Lundmark, tbnewswatch.com
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The creation of an endowment fund has brought stability to the Dilico Children's Foundation.

The foundation raised more than $50,000 earlier this year and that money was matched by the Thunder Bay Community Foundation to create the endowment fund.

"Up until now we've basically run as a flow-through organization. People would donate to the organization and we would distribute those funds out to children who have needs that aren't covered by the funding provided to Dilico," said foundation president Shannon Gothard Ramirez.

The foundation provides funding for the 3,500 children in Dilico's care for items like clothing and computers for schooling or to pay for music lessons and other activities.

Story continues after video ...

 

Gothard Ramirez said the foundation and Dilico senior management wanted to start the fund so they weren't always asking for resources.

From now on, the foundation will distribute funds from the interest earned off the $100,000 principal.

"The larger we make the endowment fund, the more interest it earns and the more stability it provides," Gothard Ramirez said, adding it's exciting to see their hard work pay off.


And not just their hard work raising the money.

"There's an education that we needed to provide for First Nation charitable giving because many people believe that they have everything covered - that education is free and they have everything they need. That's not the case," she said.

 

 

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