A new endowment fund at the Yellowknife Community Foundation aims to offer long-term support for the Yellowknife Seniors’ Society.
The community foundation and seniors’ society announced the launch of the fund in a Monday news release.
The organizations said the fund will provide a yearly grant of at least $6,000 to the seniors’ society, with the grant expected to increase each year as the fund grows.
An endowment fund is one in which donations are invested and the annual earnings are distributed as grants.
The organizations said an endowment fund, designed to grow over time, is “a great solution to the challenge many charities face of not having reliable, long-term operating funds.”
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“It is important to find ways to provide long-term sustainability for our work with seniors,” stated John Soderberg, president of the seniors’ society.
“Having a reliable source of annual funding helps us to focus on programs and services that improve the lives of older adults in Yellowknife.”
The Yellowknife Seniors’ Society, or YKSS, is a non-profit organization that manages the Baker Community Centre and offers social, recreational and educational programming for seniors in the city.
The endowment fund was created with an initial donation from Wendy Bisaro, a former longtime Yellowknife resident, city councillor, MLA and president of the seniors’ society.
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“I am so very happy that my donation can have an impact for years to come,” Bisaro, who has moved to the south to be closer to family, was quoted as saying.
“As I have aged, the realization of the importance of the YKSS as an organization, and the programs it offers, has become apparent.”
Soderberg encouraged community members to consider donating to help grow the endowment fund.
The Yellowknife Community Foundation said that until the end of 2026, any Yellowknife-based charity that establishes an endowment fund with the foundation will receive a matching contribution of $1,000 for the first $1,000 raised.
The foundation said it will then contribute $2,500 for the next $5,000 raised, repeated up to four times.
