The Kootenay Columbia Trails Society has established an endowment fund to ensure the future of its trail network.
The Kootenay Columbia Trails for Tomorrow Fund has been created through the LeRoi Foundation, and will pay out to the KCTS on a yearly basis.
“Interest from the earnings on the fund will go back to the Trails Society for its charitable programs or the development of its trails,” said Louise McEwan, chair person of the LeRoi Community Foundation.
The fund has been setup in perpetuity and is open for anyone to contribute to.
“So for example it could be a large donation, if someone wanted to leave the fund a bequest in their will they could do that,” said McEwan. “If somebody didn’t know what to give that person for Christmas, they could make a donation in their name to the Trails for Tomorrow Fund.”
The initial capital amount the KCTS contributed was $16,450, and the society has raised $20,150 in total this year.
In addition to donations, the society receives $100,000 of local government funding, but the funding is approved on a year to year basis, and the society wanted to ensure that it can continue to maintain and grow the trail network.
“We want to make sure we have some long-term funding that’s internally generated, so we diversify our funding a little bit,” said Frank Ramovs, director of the KCTS. “If our funding stays stable then we will use this money every year to make the network stronger and better.”
Generating internal revenue also gives the society an opportunity to multiply funding.
“Often times what happens is if we have project funding then we can multiply that by getting other organizations, like the Columbia Basin Trust for example, [to match] funding,” said Ramovs. “So if we have $2,000 in generated income, we may be able to double or triple that.”
The KCTS will receive its first interest payment from the fund a year from now.
Those who’d like to donate to the fund can do so by making out a cheque to the LeRoi Community Foundation, with KootenayColumbia Trails for Tomorrow Fund in the memo field, and sending it to PO Box 3, Trail, BC, V1R 4L3. Credit cards users candonate on the KCTS website by including a comment to let the KCTS know their donation is for the fund.
Corporate sponsors can contact Ramovs at 250-362-7136 or email email@example.com.