City of Williams Lake Endowment Fund Holiday Campaign Starts with $50,000 Contribution

Courtesy of the City of Williams Lake:

The City of Williams Lake is rolling out a Holiday Campaign starting November 12 to help raise funds for the City of Williams Lake Endowment Fund, which was established in 2021.

Thanks to multiple significant contributions from a private donor and a matching gift from Northern Development Initiative Trust, the fund is already valued at roughly $375,000.

Once the fund grows large enough, grants will be offered to community groups and organizations in Williams Lake. The goal is to generate consistent community funding through interest earned on the fund for years to come.

The City of Williams Lake has started the 2024 campaign with a $50,000 contribution to the fund. 

“Now we need the community’s help to reach the City’s next milestone of $1 million, at which point we can start donating the interest and make a real difference in the community,” said City of Williams Lake Manager of Economic Development Beth Veenkamp.

“Every dollar received adds to the funding pool, and interest earned is generated to flow back into the fund and, eventually, the community for generations to come.”

While the Prince George Community Foundation provides administrative support, the City of Williams Lake is responsible for growing the fund and retains control over how the interest income will be spent in the community.

Tax receipts for the City’s Endowment Fund will be issued from PGCF, but donors can be assured funds will remain within the Williams Lake fund and will continue to grow.  

“Contributing to the Williams Lake Endowment Fund is a great way to leave a lasting legacy to our community,” Williams Lake Mayor Surinderpal Rathor said. “This is a fantastic opportunity to invest in the future of Williams Lake and, for those of us who have been lucky enough to call Williams Lake home, a chance to pay it forward to generations to come.”

Stay tuned to the City’s Facebook and Instagram pages from now through until the end of December for more on the Endowment Fund.

For more information on the City of Williams Lake Endowment Fund and how to donate, visit: www.williamslake.ca/950/City-of-Williams-Lake-Endowment-Fund

City of Williams Lake Launches Matching Campaign for Endowment Fund

Courtesy of the City of Williams Lake:

The City of Williams Lake is launching a matching fund campaign this week to raise funds for the City of Williams Lake Endowment Fund, which was established in 2021.

The fund was created under the umbrella of the Prince George Community Foundation (PGCF) and finished off its inaugural year with $150,000 thanks to a matching gift from Northern Development and a private donation of $50,000 that came in at the end of 2021.

Currently, the PGCF has 18 regional partners under its umbrella, and while the PGCF provides administrative support, the City of Williams Lake retains control on how the income earned annually will be spent in the community, and is responsible for growing the fund.

The goal for future years is for the City of Williams Lake Endowment Fund to offer grants to community groups and organizations covering a broad spectrum of needs including recreation, health, the arts, the environment and education. The intended establishment of the fund was for funds to come from interest earned from the endowment rather than the City’s annual budget funded by taxpayers.

“We are delighted to announce through the launch of this campaign that our anonymous donor has again committed to a significant donation, and this year will be matching donations up to $100,000,” Williams Lake Mayor Surinderpal Rathor said.

Every dollar received adds to the funding pool, and earned interest is generated to flow back into the fund and eventually the community for generations to come. Through pooling all the income from its funds together, the PGCF is able to earn a higher return that benefits all of Northern BC and the Cariboo.

“This year, we are again blown away by this extraordinary offer from a community member that highlights the generosity that exists in our community,” said the City of Williams Lake's Manager of Economic Development, Beth Veenkamp. “Residents who choose to use this mechanism as a tax or estate planning tool can be assured that their contribution will create a long-lasting legacy that will benefit our community for generations to come.”

While the tax receipts will be issued from PGCF, donors can be assured that those funds will remain within the Williams Lake fund and will continue to grow. All donations to the fund are eligible for a charitable tax receipt and can be made online at www.pgcf.ca/donate-now/ by selecting ‘City of Williams Lake Endowment Fund’ from the drop-down menu.

For assistance, residents are encouraged to contact the City’s Economic Development Office or visit www.williamslake.ca/950/City-of-Williams-Lake-Endowment-Fund.

City of Williams Lake Receives Substantial Donation to the Williams Lake Endowment Fund

Courtesy of the City of Williams Lake:

The celebratory bell at the Prince George Community Foundation rang last week on behalf of the City of Williams Lake, as a $50,000 donation from an anonymous lake city resident was received. 

The City established the Williams Lake Endowment Fund this fall under the umbrella of the Prince George Community Foundation (PGCF), which will hold and manage the fund for the City. Currently, the PGCF has 18 regional partners under its umbrella. While the PGCF provides administrative support, the City of Williams Lake will retain control on how the income earned annually will be spent in the community.

Williams Lake Mayor Walt Cobb said through the fund, the City of Williams Lake will be able to offer grants to community groups and organizations covering a broad spectrum of needs including recreation, health, the arts, the environment and education. In future years the hope is these funds will come from interest earned from the endowment rather than the City’s annual budget funded by taxpayers.

“To say that we were shocked and delighted is an understatement,” said Mayor Cobb. “To receive a gift like this less than three months after establishing the fund exceeds what we ever envisioned. We knew that going forward we could use the fund as a mechanism for setting up campaigns that would help us grow it.  With our initial investment of $50,000 and then the matching gift from NDIT we were off to a good start. This gift has now brought our fund up to $150,000.” 

Every dollar received adds to the funding pool, and earned interest is generated to flow back into the fund and, eventually, the community for generations to come.  Through pooling all of the income from its funds together, the PGCF is able to earn a higher return that benefits all of Northern BC and the Cariboo. 

“This was an amazing phone call to receive,” said the City’s Economic Development Officer, Beth Veenkamp. “It was a bit of a stretch to think that an investment of $50,000 would create a significant enough of a start to be a difference maker, but it goes to show that we should never underestimate the generosity that exists in our community. When we create opportunities there is no telling what may happen.”

All donations to the fund are eligible for a charitable tax receipt and can be made online at www.pgcf.ca/donate-now/, noting that you would like it deposited to the City of Williams Lake Fund.