The City of Williams Lake established an endowment fund in 2021 thanks to the support of the Prince George Community Foundation (PGCF).
The fund finished off its inaugural year with $150,000 as a result of a matching gift from Northern Development, and a private donation of $50,000.
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 is that in future years City of Williams Lake Endowment Fund 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.
The intended establishment of the fund was the hope that in future years funds will come from interest earned from the endowment rather than the City’s annual budget funded by taxpayers.
Every dollar received adds to the funding pool, and earned interest is intended to flow back into the fund until larger returns are realized and will eventually flow into the 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/.