Imagine, if you will, that every single source of donations to registered charities in the Medicine Hat and Lethbridge regions were cut off. No more government grants, no donations, no business contributions. Every source of donations has dried up.
Yet, registered charities in each of those regions would still have access to a million dollars or more in grants. Yes, every year for many, many years.
That’s the enduring power of permanent funds.
The Community Foundation of Southeastern Alberta, based in Medicine Hat, serves 109,837 residents. The Foundation had assets (permanent fund) totaling $27.4 million on June 30, 2023 (its last reporting date at the time this was written). In its most recent fiscal year, it awarded $1.1 million in grants to registered charities.
Similarly, the Community Foundation of Lethbridge + Southwestern Alberta had a permanent fund valued at $40.8 million at the end of 2023 (the latest reporting period). It awarded grants worth $955,275 that same year.
Two communities with populations of about 110,000 each, and between them grants to registered charities totaling more than $2 million.
Airdrie and district, with a population that will soon surpass 100,000, can aspire to similar support for its registered charities.
Our community foundation started later than those two in southern Alberta, but we believe we can catch up, thanks to the generosity of our residents. Between 2017 and 2022, our fund grew by an average of 33.71% per year.
Between August 2022 and January 2025, the fund grew from $441,375 to $1,132,563, or to put it in simple terms, more than doubled in less than two and half years.
Before 2017, many Airdrie and area residents contributed to the Calgary Foundation, but now they can donate locally and see the results locally.
As our permanent fund grows, our grants to registered charities grow, too. In 2024, the Foundation granted $30,000 to local registered charities. And you can expect another significant increase when we hand out the grant cheques at our Gala in May.
How does this work? We have invested donor money in GICs (Guaranteed Investment Certificates) and in a long-term equity fund. The interest and income from these investments provide the cash to fund the grants.
Canada Revenue Agency rules stipulate that a community foundation must disburse at least 3.50% of a permanent fund each year. At the Airdrie and District Community Foundation, we try to exceed that amount whenever possible.
Aside from minimal expenses, Airdrie and District Community Foundation is able to direct most of our interest and income toward grants. Here’s a brief list of some fundraising targets and the minimum amounts they might provide in grants:
• $1 million (passed in the second half of 2024) – 2025 grants of at least $35,000.
• $5 million – grants of at least $175,000.
• $10 million – grants of at least $350,000.
• $20 million – grants of at least $700,000.
• $30 million – grants of at least $1,050,000.
Yes, that $30 million target appears to be a long way away, but we at the Airdrie and District Community Foundation believe we will reach it, thanks to your generosity and support.