2019 Annual Report
September 2018 to August 2019 2019 Annual Report
2 - Message from the Board Chair 3 - Fields of Interest 5 - What Makes Us Unique 6 - 2018-2019 Statistics 7 - Agency Profile 8 - Community Initiative 9 - Committee Members 10 - Grants 11 - Funding Partnerships 12 - Fund Distributions 14 - Bursaries, Scholarships, & Awards 15 - Ways to Give 17 - Thank You to our Donors 19 - Endowment Funds 23 - Financial Information 25 - Foundation Leadership
Vision Mission We believe that everyone can To contribute to the quality of life in leave a legacy. We are the the Central Okanagan through the catalyst, building excellence raising and stewardship of entrusted in philanthropy to ensure our funds, innovative and diverse granting, communities flourish. and active community leadership. Message from the Board Chair The Central Okanagan Foundation (COF) started modestly in 1977 with 16 original endowment funds and a commitment of $80,000. We now we have 333 endowment funds that support a wonderful spectrum of initiatives, programs and charitable organizations in our communities. Thanks to the extraordinary generosity of our donors we are proud to report that COF’s endowment capital has increased 50% in the past six years, with total assets under our stewardship of over $35 million.
As important as the total of our financial holdings are, it is the money that COF is able to distribute into our community on an annual basis that creates current impact. This year, that amount was $3.8 million, allocated to the Community Granting Program, directed grants from endowments, the IMPACT fund, flow-through funds and scholarships, bursaries & student awards.
Thanks to our prudent investment policies and the advice of our investment managers, we achieved a 2.6% annual return, a total investment income of $1,123,757. Despite another challenging year in the markets, we are pleased to announce that there will be 3.5% disbursement from our endowment funds this upcoming year. The allocations reserve is available to fund the shortfall which was put in place in years of lower investment performance.
We are confident that with our team of engaged and dedicated volunteers and staff, the Central Brian Sanders, CPA, CA Okanagan Foundation will continue to grow and Board Chair thrive in step with the vibrant communities that we represent.
2 Your foundation
Whatever your charitable goals are, we can help you achieve them. Areas we support include Areas As your philanthropic partner, we are your community foundation. We provide personalized service to make your giving flexible and easy.
3 Arts & Culture
Health & Community Services
Environmental
Animal Welfare
Heritage & Historical
Children, Youth, & Families
Education
Global Initiatives 4 What makes us unique
Central Okanagan Foundation is your best choice for enduring community philanthropy because of our…
Balanced approach to Fiscally responsible, low-cost philanthropy, targeting your philanthropy, with a deliberate short- and long-term goals and prudent approach
In-depth community Strong governance through our knowledge, ensuring that you Board of Directors, committees, are making the most strategic and professional staff, ensuring giving decisions your interests are protected even after you’re gone
Customized Giving, you have Extensive experience working a choice of how and where with local professional advisors your gift can be directed
5 Central Okanagan Foundation 2018/19 statistics
2ND YEAR IN OVER $3.8 MILLION A ROW distributed this year
$2,048,695 $847,673 $928,034 in Endowment & Flow Through in Grants, Scholarships, in Funding Partnership Distributions to 96 Bursaries, & Awards Distributions to 16 community organizations community organizations
Donors – 183 Endowment Funds – 333 $35 Scholarships, Bursaries, & Awards – 142 OVER million # in endowments & other assets Endowment Funds – $29,212,051 Other Assets – $6,598,616 Scholarships, Bursaries, & Awards – $156,875 In operation for $ 42 Youth Initiative Grants years
Youth grants are available through a partnership between Central Okanagan Foundation, United Way and United Way Gennext
$9,500 given to 5 Youth Initiative Programs Our Community Entity Program is funded by the Government of Canada’s Reaching Home Homelessness Strategy Total Endowment Funds: 333 Donor Designated 164 $759,777 Agency 115 Donor Advised 26 given to 5 homeless serving agencies Corporate 16 for period April 1, 2018 - March 31, 2019 Community/COF 12 6 Agency Profile Uptown Rutland Business Association
Through collaboration with Canadian artists, four businesses, SD #23, City of Kelowna, and Studio 9 the Uptown Rutland Business Association successfully increased vibrancy in Rutland neighbourhoods with the Uptown Rutland Mural Project. The Uptown Rutland Mural project is a community inclusive and educative street – art installation with a total of five wall-street art murals.
Youth were active participants throughout the project by generating community engagement, assisted with defining a community vision, mentorship by professional artists and involvement with the creation of large - scale artwork. This inspired youth and contributed to their sense of community and ownership of place. through beautification and educating youth through the creation of art” says Laurel D’Andrea, Executive Director of the Uptown “The objective of the project was driven Rutland Business Association. towards strengthening community engagement and involvement, boosting The Central Okanagan Foundation funded mural is located the local economy, increasing walkability at the Shepherd Road Transit Exchange/Save More Pawn on within the business improvement area Asher Road.
The Peachland Pier Group
The Central Okanagan Foundation is recreation opportunity for tourists and a great addition to pleased to have been one of several current infrastructure. partners including senior government, local service clubs and, local fishing Eldon Kerbes, President of the Peachland Pier Group says, “I am groups in the construction of the first thrilled and enjoy watching people of all ages utilizing the pier.” wheelchair accessible fishing pier on Okanagan Lake, located in Peachland. The pier was gifted by the Peachland Pier Group to the District The pier includes a 400 foot boardwalk of Peachland. featuring three wheelchair accessible ramps and nine fishing bays.
The Peachland Pier Group formed as a collaborative initiative of the Peachland Lion’s Club, the Peachland Sportsmen’s Association and the Rotary Club of Peachland. The pier has provided a public amenity for people throughout the Okanagan, an attraction and
7 Agency Profile Central Okanagan Land Trust (COLT)
For more than 25 years now, the Central Okanagan Land Trust (COLT) has been working with private land owners, local government, and environmental groups to help preserve and improve the fragile wildlife habitat in the region.
These partnerships have resulted in the preservation of roughly 1000 acres of land for parks and wildlife across our region - an important consideration as the entire Okanagan Valley comes under the increasing pressures of urbanization.
At Munson Pond, where COLT holds a Conservation Covenant with the City of Kelowna, a three-year project saw the installation of a trail route, construction of two viewing platforms, and the planting of thousands of native plants to improve the area’s habitat for resident wildlife species and for migrating birds. Again, COLT was able to secure $100,000 that the City is not eligible for! The result is wonderfully accessible wildlife park that is used by thousands of residents and visitors annually – and is home to a wide array of native plant and animal species.
An important partner in all of COLT’s work over the years has been the Central Okanagan Foundation (COF) - in fact, the Foundation actually formed the Land Trust as an independent body in order to manage ‘non-revenue generating assets’ (like parkland). Since those early days, Two of COLT’s more recent projects help COLT has worked with the COF to build its endowment demonstrate the value of its work. Upstream funds as part of a long-term strategy to improve the wildlife of the Mission Sports Fields is a new section habitat and parkland settings that are so important to of engineered dike along the Mission Creek preserving our clean water and clean air. Greenway - new diving that improves flood protection, strengthens fish habitat in the In so many ways, COLT’s work is a great example of how creek itself, and adds significantly to the we can all ‘think globally and act locally.’ There is so much riparian habitat along the creek. That work was more work to do to preserve our fragile ecosystems, facilitated by COLT’s successful application and your contributions to COLT’s endowment funds will for funding from the federal Department of demonstrate your commitment to preserving a healthy Fisheries and Oceans. By the time the new biodiversity for generations to come. Why not find out dike was completed, COLT had secured almost how you can help preserve the environment and wildlife $400,000 toward the project - and this is for your family’s future generation? What will you tell your funding that the City or the Regional District is grandchildren you did to help keep out water pure, our air not eligible to apply for! clean, and the region’s biodiversity healthy?
8 Volunteer Committee Members
Executive Committee of the Board* Grants Review Mike Gilmore, Treasurer Sharon McCoubrey, Past Chair Committee Members Alison Moscrop, Chair of the Grants Review Committee Brian Sanders, Chair of the Board Health & Community Service/ Children Youth & Family/ Gwen Zilm, Chair of the Organizational Development Education/ Global Initiatives Committee Committee Ellen Boelcke Mary Butterfield Alison Moscrop, Chair Investment Committee* Sharon Shepherd Jeff Bourgoyne Gwen Zilm Michael Gilmore Craig Gronsdahl Chad Krahn, Chair Arts & Culture/ Heritage& Historical/ Environment/ Bob Macdonald Animal Welfare Committee Brian Sanders Marni Adams Patti Kilback Jody LaFontaine Impact Investment Committee* Alison Moscrop, Chair Jeff Burgoyne Abbie Norrish Susan Byrom Grant Fletcher Sheldon Gardiner Central Okanagan Foundation’s Volunteer Spirit Chad Krahn Scholarship Fund Review Committee Anita Boehm Alison Moscrop Human Resources Committee* Jackie Baron Anita Boehm City of Kelowna Community Social Development Sharon McCoubrey, Chair Grants Committee Brian Sanders Jeremy Burgess Tyler Chartrand Kerry Rempel Grants Committee (Ad Hoc) Leah Sanford Ellen Boelcke Quinton Ursulan Alison Moscrop
*Standing Committee of the Board
9 Grants
(NOW) Canada Society 45,000 Community Fund Okanagan Regional Library 36,000 Central Okanagan Foundation Community Granting Peachland Community Arts Council 45,000 Fall 2018 Grant Recipients: Peachland Wellness Centre 36,000 School District 23 (Roots of Empathy) 36,000 Project Grants YMCA of Okanagan 30,000 Arthritis Society 3,000 TOTAL: $499,000 BrainTrust Canada 14,880
Central Okanagan Emergency Shelter Society 9,180 Impact Fund Central Okanagan Artist and Event Canadian Mental Health Association Development Society 4,094 Kelowna Branch 1,000 Central Okanagan Food Policy Council 15,000 Central Okanagan Emergency Shelter Society 15,000 Hands in Service 15,000 Central Okanagan Heritage Society 1,000 Kwantlen Polytechnic University Foundation 10,000 City of Kelowna 9,750 PosAbilities Association of British Columbia 9,039 Helping Out People Exploited Society (Civic Award) 3,000 Okanagan Artists Alternative Association 15,000 John Howard Society South Zajac Ranch 15,000 Okanagan/Kootenay BC 15,000 TOTAL: $110,193 KCR Community Resources 1,500 School District #23 2,000 Spring 2019 Grant Recipients: Shoe Bank Canada 2,000 Project Grants Child Safety Initiative $5,000 Astrolabe Musik Theatre Society 15,000 Association of Fundraising Professionals $2,500 BC Life Builders Rehabilitation Society 15,000 Leadership Okanagan 1,538 Canadian Mental Health Association 6,818 TOTAL: $59,288 Central Okanagan Association for Cardiac Health (C.O.A.C.H) 5,268 Provided by Central Okanagan Foundation and Friends of South Slopes Society 10,000 United Way / Gennext Lower Mainland Down Syndrome Ecetera/ The Bridge: More LGBTQ_Friends 2,000 Society (LMDSS) 1,000 Enactus: Green Screen 2,000 Mamas for Mamas 10,000 Enactus: Silver Surfers 1,500 Okanagan Boys and Girls Clubs 15,000 Foundry Kelowna:YAAC Mental Health Peachland Historical Society 6,649 Week Campaign 2,000 Starbright Children’s Development Centre Assoc. 10,000 One Sky Resources: Mural Project 2,000 Thompson Okanagan Tourism Foundation 15,000 TOTAL: $9,500 Uptown Rutland Business Association 12,000 Westside Health Network 7,620 Central Okanagan Foundation Volunteer Spirit Awards 2019 TOTAL: $129,355 Keneisha Charles, Kelowna 1,500 Serena Slonowoski, West Kelowna 1,500 2019 Multi-year Grants Ashley Stocker, Lake Country 1,500 Arts Council of The Central Okanagan 36,000 TOTAL: $4,500 British Columbia Lions Society for Children with Disabilities 39,000 GRAND TOTAL: $811,835 Friends of Fintry Provincial Park Society 36,000 KCR Community Resources 45,000 Kelowna Museum’s Society 40,000 Kelowna Visual and Performing Arts Centre Society 45,000 Lake Country Art Gallery Society 30,000
10 2019 City of Kelowna Community Social Development Grants Autism Kelowna 7,500 Funding Canadian Mental Health Association, Kelowna 7,500 Central Okanagan Elizabeth Fry Society 12,000 Central Okanagan Nutrition Society partnerships (formerly Meals on Wheels) 2,500 Freedom’s Door 30,000 Hands in Service 25,000 John Howard Society of the Central & South Okanagan 22,000 Karis Support Society 15,000 Kelowna & District SHARE Society 3,000 Kelowna Pride Society 20,000 NOW Canada 36,000 Project Literacy 6,500
TOTAL: $187,000
2018/2019 Government of Canada’s Reaching Home Homelessness Strategy Canadian Mental Health Association – Kelowna District Branch, Designated Communities 224,523 Ki-Low-Na Friendship Society – Indigenous Homelessness 198,469 Kelowna’s Gospel Mission, Designated Communities 77,680 New Opportunities for Women Canada Society, Designated Communities 136,705 Okanagan Boys & Girls Clubs, Designated Communities 122,400
TOTAL: $759,777
11 Fund Distributions
Fund Disbursements & Flow-Through Abbeyfield Houses Society of Canada 3,585 Alzheimer Society of B.C. 1,722 Amyotrophic Lateral Sclerosis Society of BC 439 Arts Council of the Central Okanagan 744 Ballet Kelowna Society 750 BC Cancer Foundation 30,200 BC Guild of English Handbell Ringers 642 BC Lions Society for Children with Disabilities 618 BC SPCA - Provincial 20,000 BC SPCA - Kelowna Branch 65,001 BHF Building Healthy Families Society 2,049 Bridge Youth and Family Services Society 15,837 British Columbia Lung Association 9,579 Canadian Cancer Society - Southern Interior Rotary Lodge 1,111 Canadian Diabetes Association 1,550 Canadian Hemophilia Society - BC Chapter 567 Canadian Mental Health Association Kelowna Branch 13,668 Canadian National Institute for the Blind 10,197 Canadian Parks and Wilderness Society 3,852 Canadian Red Cross - BC Southern Region 110 Central Okanagan Community Foodbank Society 3,500 Central Okanagan Elizabeth Fry Society 1,279 Central Okanagan Emergency Shelter Society 5,617 Central Okanagan Heritage Society 1,950 Central Okanagan Hospice Association 17,514 Central Okanagan Land Trust 21,474 Chamber Music Kelowna Society 3,415 Cops for Kids Charitable Foundation 2,925 Elevation Outdoor Experiential Program Association 2,550 Enso Society for Contemplative Engagement 5,100 Friends of Mission Creek Society 311 Friends of Parrot Sanctuary Society 157 Girl Guides of Canada BC (Central Okanagan) 2,486 Hands in Service Canada 1,000 Heart and Stroke Foundation, BC and Yukon 9,579 Immaculata Regional High School 20,000 Independent Living Vernon Society 4,680 Kelowna & District Society for People in Motion 5,496 Kelowna Art Gallery Association 2,885 Kelowna Ballet Society 4,105 Kelowna Child Care Society 942 Kelowna Community Music School Society 5,383 Kelowna Community Resources Society 2,349 Kelowna Friends of the Library 313 Kelowna General Hospital Foundation 51,238 Kelowna Gospel Mission Society 15,000 Kelowna Museums Society 43,674
12 Fund Distributions
Kelowna Secondary School 938 Kelowna Visual and Performing Arts Centre Society 14,708 Ki-Low-Na Friendship Society 392 Kingfisher Interpretive Centre Society 2,000 Kiwanis Music Festival Society of Kelowna 17,585 Leprosy Mission Canada 2,507 Mountain Medical Services Society 317 Multiple Sclerosis Society of Canada - Okanagan Chapter 2,475 Muscular Dystrophy Association of Canada 100 Naramata Centre Society 1,065 National Sport Trust Fund 618 Okanagan Adventist Academy 340 Okanagan Boys and Girls Clubs 1,059 Okanagan College Foundation 1,261,867 Okanagan Crime Stoppers Society 3,791 Okanagan Historical Society - HO Vernon 1,082 Okanagan Regional Library District 5,021 Okanagan Symphony Society 30,272 Old Friends Canada Society 18,654 Orchard City Abbeyfield Society 1,548 Pathways Abilities Society 1,090 Plan Okanagan (Okanagan Lifetime Networks Association) 2,107 Project Literacy Central Okanagan Society 1,068 Reach Out Youth Counselling & Services Society 735 Responsible Animal Care Society 466 Salvation Army Kelowna Community Church 25,000 School District #23 18,000 Scouts Canada - Okanagan Area 508 Silver Lake Forest Education Society 3,087 Society of St. Vincent de Paul, St. Charles Garnier 25,000 South Okanagan Rehabilitation Centre for Owls 157 Special Olympics British Columbia - Kelowna Branch 656 St Andrew’s Church 9,813 St. Charles Garnier Parish 15,000 St. Joseph Elementary School 64,275 Starbright Children’s Development Centre 12,111 The Board of Education of School District No.53 2,500 UBC Okanagan Development & Alumni Engagement 309 United Way of the Southern Interior BC 42,665 Variety - The Children’s Charity of BC (Tent 47) 110 Waldorf School Association of Kelowna 309 Westbank Museum & Arts & Crafts Society 1,247
GRAND TOTAL: $2,009,695
13 Bursaries, Scholarships, & Awards
Bursaries, Scholarships, and Awards Kelowna Rebekah Lodge #36 -‐ Kathleen Grant Acres, Jack Family Award Fund Memorial Fund Alton, Jane C. Scholarship Fund Kelvern Celtic Society Fund Alumni & Friends Of KSS -‐ Academic Award Kerr, Mary I. Memorial IODE Bursary Alumni & Friends Of KSS -‐ Athletic Award Kiwanis Early Childhood Education Fund Alumni & Friends Of KSS -‐ Fine Arts Award Knox, Dr. IODE Fund Alumni & Friends Of KSS -‐ Industrial KSER Scholarship Fund Education/Technology Award Lee, Gordon Memorial Bursary Fund Armeneau, Harold Family Fund Lefebvre Dosch, Travis Memorial Bursary Ayres, Lillian Citizenship Award Fund Lloyd Farrally Scholarship Fund Bennett, Gary Family Fund Malcolm English, Paddy Scholarship for the Bennett, W.A.C. Family Fund Performing Arts Fund Brow, Jack Memorial Fund McMillan, Jack IODE Scholarship Brumpton, Gerry Memorial Fund Mills, Fiona Elizabeth Bursary Fund Capozzi, Herb Memorial Fund Moody, Leonora & Dwight Fund Central Okanagan Bursary & Scholarship Moore, Cecil E. & Vera I. Fund Society Fund Morrison, Estate of Eleanor Fund Central Okanagan Foundation Volunteer National Bank Financial Fund Spirit Scholarship Fund Neave, Mary Catherine Memorial Fund Clarke, Dr. David Bursary Fund Nicholas, Larry Memorial Fund Corrado, Am Memorial Scholarship Fund Okanagan Chartered Financial Analysts Fund Dingwall, Holly Memorial Fund Okanagan Sun Bursary Award Fund Evans, Josie Award Pettman, Harold & Marina Fund Fennell, Pat & Bill Family Fund Pollard, Aubrey Roy Family Fund Fennell Rotary Ogopogo Bursary Fund Quaedvlieg, Judy & Greg Fund Flett Family Bursary Fund Ross, Bob Memorial Fund Funk, Henry Memorial Bursary Rutland Minor Baseball Fund Guthrie, Evan Fund Rutland Volunteer Fire Department Fund Gyro Club of Kelowna Bursary Fund Serwa, Cliff & Lois Fund Hall, Dick & Jean Fund Serwa, Jack & Helen Fund Hambleton, J. Memorial Fund Tait, Roger Memorial Fund Harding, Temie Ann Memorial Bursary Truswell Memorial Fund Hawley, Kay & Russ Family Bursary Walker, Andrew Scott Memorial Fund Hikichi, Dan Memorial Award Fund Wiens, Peter & Mary Fund I.O.O.F. Orchard City Lodge #59 Bursary Fund Wilhelm, Lisa Memorial Fund Kelowna Central Lions Club Fund Woodworth, John & Nancy Fund Kelowna Home Support Society Fund Zimmerman, Lorraine Memorial Fund Kelowna Jaycees Club Fund Kelowna Rebekah Lodge #36 Fund GRAND TOTAL: $156,875
14 Ways to give
We offer strategic ways for individuals, families, corporations, and organizations to give with impact. We will work with you to create a plan with both short-and long-term giving options that fulfill your philanthropic goals. Your Endowment Fund options are:
Community Fund More Directed You leave it up to us and our grants committees to ensure the community’s most pressing and relevant needs are supported.
Field of Interest Fund Investment income is targeted to address a specific area you feel is important in the community, such as Arts, Health, or the Environment.
Donor Designated You select your favourite charities and we ensure that are supported, forever.
Donor Advised Fund A donor advised fund allows you to choose which charities you want to support each year.
Agency Fund Gives registered charities the option to create their own endowment, building a sustainable source of funding.
Gift in Will More Flexible Leave a bequest in your will that will help you support your favourite causes after you are gone, leaving a lasting legacy.
15 Contributor Spotlight Kelly Hutchinson
When Kelly approached the Central Okanagan Foundation in 2017, he didn’t know what to expect. At the age of 25, he’d made the decision that Kelowna was going to be home for the long run. As an avid volunteer and community activist, he vaguely knew of the COF from their involvement in such programs like the Community Advisory Board on Homelessness (CAB-H). He’d seen the sponsorship logos at the Kelowna Civic Awards when a close friend of his received an award in 2015. But it wasn’t until he read an October 2017 “Vital Signs” report about the changing demographics of the Okanagan in decades to come that he started to seriously consider donating. Kelly appreciated the rigorous research, and as a self-proclaimed “public policy nerd”, found the topics quite compelling.
His love for public policy was sparked entirely by accident one 2014 winter night when he accidently stumbled into a Vancouver City Council meeting looking for a place to warm up his hands. In that meeting, they were addressing a bed shortage at a local shelter which at the time was turning away 7-12 individuals every night. Maybe it was the freezing cold hands, but he couldn’t imagine how others could so easily fall through the cracks when life had given him so much. He knew he had to do something.
“Years later, with a good middle class union job, Kelly knew he had the financial means to give back, he just needed to find the right fit.”
He wanted something locally-focused. Something aiming to help those less fortunate than himself; somewhere he could contribute little by little, and watch it grow over time. Something he could help re-direct if he became extra passionate about a project or cause; something that he could leave for his children to inspire them to keep giving, and somewhere he could be confident his funds would be well stewarded while he focused on volunteering his time. Most importantly, he wanted to donate to an organization that knew the importance of staying connected and informed about the community he calls home. He found it with the Central Okanagan Foundation.
16 Central Okanagan Foundation Donors
Thank you to the following donors who gave to us between September 2018 and August 2019.
1832 Asset Management L.P. Scott Aaltonen Arun Allelulia Andre’s T.V. Sales & Service Ltd. Ken W. Arcuri Bacas Holdings Ltd. Beryl Baldeo Nicolas Bass Edith & Daniel Bauman BCICAC Bearspaw Contracting Inc. Thank Brian Bennett Gary and Maureen Bennett Mary-Jean Bennett you R.J. Bennett Dan Bernier Kris Bernier Big White Ski Resort Tracey Boorman The Book Bin John Boruta Don Brown Mary Norma Brown Janet Brumpton If you are interested in becoming a Josephine Bullock donor, please contact our Executive Graham Burns Director at 250.861.6160 Colin Burton Elya Byrne Jeff Campbell Les Campbell Central Okanagan Kiwanis Community Services Society Central Okanagan Land Trust Chamber Music Kelowna Society Barry Christiansen CI Investments Jason Clarke Classified Motorsports Inc. Terry Compton Bruce Davies June Dawe Adam De Bosch Kemper and Tan Pham Peter and Nicole De Bosch Kemper William and Elizabeth De Bosch Kemper
17 Margaret de Vries Dale Krushel Craig Procter Darcy and Renee Del Colle James Kwong Pushor Mitchell LLP Carolle Denis-Engstad Mike Large Raymond James District of Peachland John G. Lee Canada Foundation Chris Docksteader Joyce Lee Re/Max Kelowna Barbara Jill Douglas Andrew Leffers Steven Richardson William Drinkwater Walley Lightbody Sandra Ritchie Howe Wayne Duchart Sheryl Lobsinger Sylvia Rufli Darcy Elder Patrick Long Priscilla Russell Estate of Ann Dearle Mackenzie Financial Corporation Lori Samuels Estate of Martha Katsuta Mackenzie Investments Ann Scothorne Rita Faber Joan Mann Del Seabrook Mary T. Fabris and Paul F. Chappie Manulife Robert D. Sebastian M.D. Inc. Wendy Falkowski Charles Martin T.J. Sebastian Farris, Vaughan, Wills & Murphy LLP Derek Martin Cliff Serwa Marc Faubert Todd Martin Kelly Sherman Fidelity Investments Canada ULC McIntosh Properties Roy Sinden Nathan Flavel Wenda McIntyre Mary Jane Slavin Don and Karen Folk Jason McMillen Teresa Smith Anita Funk Alli McNeill Strategic Charitable Sheldon Gardiner Cheryl Miller Giving Foundation Bernard and I. Gatzke Dorothy Mills Strut Footwear & Apparel Inc. Sherri Gorjanc Jody Miller Krista Suchar Craig Gronsdahl John Mooney John and Judy Suttie Roberta Gullacher National Bank of Canada Swagman Evan Guthrie Luisa Nestman Carol Taylor Habitat for Humanity Okanagan Jason Neumann Thompson Okanagan Steven Harvey Joel Nicholas Dental Society Mark Hauptman Donna Nicholas Timberlee Financial Ltd Dianne Hayley Rory Nugent T-Lane Transportation & Logistics Steve Higgins Okanagan CFA Society Don and Lucy Turri Rick and Karen Hoeschle Okanagan Lifetime Networks Ken Unger Pam Hoeschle Association Dave and Diana Veitch Jeremy and Deb Hopkinson Okanagan Symphony Orchestra Victor Projects Ltd. RJCF and John Huggan Brandon Oram David Walker Kelly Hutchinson Orchard City Abbeyfield Society Chris Ward Insure Wealth Group Inc. Pakage Apparel Inc. Agnes Wilson Invesco (Trever Weatherly) John Patterson Kenneth Wilson Dr. Andrew and Joan Irvine Brent Pay Robin Woodworth George Jacob Peachland Wellness Centre Joanne Worden Kirsti Jarrett Cheryl Penner Ross Young JEM HTB Properties Inc. Rome Perretta Dan Zaleski Scott Jennings Patrick and Laurie Pettman Diana Zaleski Robert Johnson Donald A. Pettman Sherri Johnson Kenneth Pettman We apologize for any omissions. Todd Kerr Marina Pettman Please advise us of any errors Lisa Kommes Dr. Andrew De Pieri Inc. or changes. Keith Kostek Pioneer Gourmet Coffee Ltd. Colin Krieg Power Concepts Ltd. Wolf Krieg The Colin & Lois Pritchard Foundation
18 Endowment Funds
Community Funds Central Okanagan Foundation 40th Anniversary Animal Welfare Fund 11,588 Scholarship Fund - Peachland 40,000 Central Okanagan Foundation for Youth Central Okanagan Foundation 40th Anniversary (COFFY Endowment Fund) 35,081 Scholarship Fund - West Kelowna 40,000 Community Fund - Arts & Culture 1,056 Central Okanagan Heritage Society Fund 16,951 Community Fund - Children, Youth & Family 11,007 Central Okanagan Hospice Fund 9,185 Community Fund - Education 1,133 Central Okanagan Land Trust Fund 68,636 Community Fund - General 429,558 COLT Johns Family Conservation Area Fund 10,000 Community Fund - Health & Community Service 1,059 COLT Munson Pond Fund 18,659 Community Fund - Heritage & Historical 1,339 Chan Foundation of Canada Fund 5,665 Lake Country Community Fund 11,124 CMKS - G S Hyde Scholarship Fund 17,000 Millennium Community Fund 848,843 Community Recreational Initiatives Society (CRIS) Peachland Community Fund 166,319 Adaptive Adventures Fund 4,380 Williams-Wace Admin Fund 170,652 Cops for Kids Fund 48,753 Total $1,688,759 Crossroads Treatment Centre Fund 436,698 Dr. Knox IODE Fund 66,705 Charitable and Organizational Funds Fennell Rotary Ogopogo Bursary Fund 15,156 4 Children Fund 7,554 Fetal Alcohol Syndrome Fund 49,261 Abbeyfield Houses Society Fund 25,794 Friends of the COF Fund 19,326 Aboriginal Community Capacity Fund 340 Girl Guides Central Okanagan Fund 25,804 ALS Society Fund 7,322 Gyro Club of Kelowna Bursary Fund 53,559 Alumni & Friends of KSS Fund 93,886 Habitat for Humanity Okanagan Fund 2,000 Anonymous Fund 5,210 HUDAC - Gordon Lee Memorial Bursary Fund 5,150 Arts Council of the Central Okanagan Fund 10,734 Independent Order of Oddfellows #59 Ballet Kelowna Art Creation Fund 68,408 & Rebekah Lodge #36 Fund 10,300 BC Guild of English Handbell Ringers Fund 10,703 Independent Order of Oddfellows #59 BC Orchard Industry Museum Fund 13,726 United Way Fund 10,300 BC Orchard Museum Doreen Tait Fund 38,524 Independent Order of Oddfellows Orchard City BC Volunteer Fire Fighters Millennium Fund 18,461 Lodge #59 - Bursary Fund 23,690 Belaire Women’s Society Fund 5,306 Interior Alzheimer Support Society Fund 28,707 Big Brothers Big Sisters Norm Williams Kelowna 2000 Senior Games Legacy Fund 31,810 Scholarship Fund 5,150 Kelowna Art Gallery Renaissance Big Brothers Big Sisters of the Okanagan Fund 5,273 Endowment Fund 48,086 BMO Employees of the Okanagan Fund 3,754 Kelowna Central Lions Fund 16,480 The Bridge Youth & Family Services Fund 10,300 Kelowna Child Care Society Fund 15,695 Canadian Mental Health Association Kelowna Children’s Fund (established by of Kelowna Fund 5,586 Madge Bannister Walden) 272,038 Central Okanagan Bursary and Scholarship Kelowna Community Music School Fund 8,111 Society Fund 51,850 Kelowna Community Resources Endowment Fund 10,300 Starbright (Central Okanagan Child Kelowna Friends of the Library Fund 5,212 Development Association) Fund 118,518 Kelowna Friends of the Musical Arts Fund 5,150 Central Okanagan Crime Stoppers Fund 63,191 Kelowna General Hospital Trust Fund 136,793 Central Okanagan Elizabeth Fry Society Fund 6,086 Kelowna Home Support Society Fund 168,938 Central Okanagan Foundation 40th Anniversary Kelowna Jaycees Club Fund 62,049 Scholarship Fund - Kelowna 40,000 Kelowna Kiwanis Legacy 2017 Fund 675,000 Central Okanagan Foundation 40th Anniversary Kelowna Museums Fund 17,740 Scholarship Fund - Lake Country 40,000 Kelowna Museum Heritage Fund 5,150
19 Endowment Funds
Kelowna Rebekah Lodge # 36 Fund 9,270 Tree of Hope Fund 14,964 Kelowna Rebekah Lodge #36 Student Award Fund 50,000 United Way of the Central & South Okanagan Kelowna Waldorf School Scholarship Fund 5,150 Similkameen Fund 447,264 Kelowna Womens’ Shelter Fund 14,369 United Way - Katie Rena Ham Fund 5,150 Kelvern Celtic Society Fund 15,223 United Way - Marguerite Fuller Fund 128,967 Ki-Low-Na Friendship Society Fund 6,526 University of British Columbia Okanagan Kiwanis Early Childhood Education Fund 10,300 Student Music Composer’s Fund 5,150 Kiwanis High Noon Club Fund 6,438 Walker / Link Fund 5,150 Kiwanis Music Festival Society Fund 5,362 Willowstone Academy Fund 3,073 Kiwassa Endowment Fund 10,300 Wine Museum Fund 5,812 Lillian Ayres Citizenship Award Fund 52,398 YMCA of Okanagan Fund 75,401 Mission Creek Greenway Fund 5,179 Total $5,512,440 Mountain Medical Services Society Fund 5,279 Multiple Sclerosis Society of Canada - Corporate Funds Okanagan Fund 41,249 BMO Harris Private Banking Fund 10,506 Myra Bellevue/Okanagan Mountain Provincial Built-Rite Homes Fund 30,900 Parks Legacy Fund 16,553 Clients of Pushor Mitchell Fund 45,595 Naramata Centre Fund 17,745 Destination Homes Endowment Fund 18,066 Okanagan Boys & Girls Clubs Fund 11,620 F H & P Lawyers Fund 6,180 Okanagan Chartered Financial Analysts Fund 110,835 Gorman Bros. Lumber Fund 123,600 Okanagan College Endowment Fund 103,000 Grant Thornton / Rutherford Bazett Fund 11,021 Okanagan College Founders Fund 7,994 Interior Savings Children’s Fund 126,653 Okanagan Historical Society Fund 18,025 Investors Group Financial Services Fund 1,173 Okanagan Life - Kelowna Museum Fund 5,311 Kohler Fund 10,300 Okanagan Military Museum Society Fund 17,482 Lake City Casino Fund 30,900 Okanagan Regional Library Fund 5,346 National Bank Financial Fund 72,734 Okanagan Symphony Society Endowment 241,925 RBC Financial Group Fund 5,665 Orchard City Abbeyfield Endowment Fund 10,495 RE/MAX Realtor’s Legacy Foundation Fund 272,704 Pathways Abilities Society Fund 7,236 The Geotility Fund 10,300 Panton, Joan Sunshine Theatre Fund 61,145 The Matcon Fund 25,750 Peachland Wellness Centre Fund 10,925 Whillis Harding Fund 10,300 People in Motion - Kelowna Fund 8,269 Wood Gundy Fund 32,445 Plan Okanagan Fund 36,169 Total $844,792 Portuguese Community Fund 8,889 Project Build Fund 364,174 Individual and Family Funds Project Literacy Kelowna Society Fund 18,003 Acres, Jack Family Award Fund 15,000 Reaching Out to Youth Endowment Fund 12,256 Aitkens, Marcia Fund 939,180 Rotary Centre for the Arts Fund 183,989 Almond Family Fund (in memory of Sean Almond) 51,500 Rotary Club Kelowna United Way Fund 5,210 Althorp Family Fund 15,450 Rutland Minor Baseball Fund 6,171 Alton, Jane C. Scholarship Fund 10,300 Rutland Volunteer Fire Department Bursary Fund 10,553 Anderson, W & C Family Fund 15,450 Scouts Canada - Central Okanagan Area Fund 8,464 Appleton / Slavin Family Fund 502,924 Silver Lake Camp BC Forest Fund 51,446 Armeneau, Harold Family Fund 5,707 SPCA Fund (established by Robert & Ivy Link) 19,389 Arsenault Marshall Family Fund 28,883 H & M Sullivan Okanagan Boys & Girls Fund 6,026 Aynsley’s, Eveline Ethical Treatment of Theatre Kelowna Society Fund 11,482 Animals Fund 441,677 Thompson Okanagan Dental Society Fund 28,230 Baldeo Family Fund 15,130
20 Endowment Funds
Ben Wah Lee & Kelowna Chinese Cultural Geddes Family Fund 41,200 Association Legacy Fund 51,271 Gorman, Beverley & Bill Reedy Fund 128,409 Bennett, Gary & Maureen Fund 10,000 Grossmith Ruckstuhl Family Tree Fund 5,490 Bennett, Russell & Bill Fund Guthrie, Evan Fund 600 (in memory of their sister Anita) 257,572 Hall, Dick & Jean Fund 72,203 Bennett, Russell J. Family Fund 59,225 Hall, Dick & Jean Fund #2 35,367 Bennett, W A C Fund 32,661 Hall, Dick & Jean Fund #3 1,423,682 Bennett, William & Audrey Fund 10,300 Hall, Hilda Memorial Fund 11,260 Bootle Family Fund 10,867 Hall-Szyszkiewicz, Melanie Fund 19,358 Bootle, Wendy (F.G.) Memorial Fund 25,832 Hambleton, Jack & Lorna Memorial Borden, Elaine Fund 10,628 Scholarship Fund 15,660 Bowes, James & Frances Fund 51,500 Hamel, Aurore Memorial Fund 10,300 Bowes, Jim Aviation Scholarship Fund 72,000 Harding, Ken & Gwen Family Fund 20,200 Brennan, Frank & Vera Fund 1,263,259 Harding, May & Percy Family Fund 12,875 Brow, Jack Memorial Fund 10,663 Harding, Temie Anne Memorial Fund 16,480 Browne Family Fund Hawley, Kay & Russ Family Fund 26,402 (in memory of Jeremy Browne) 25,802 Henry/Stewart/Russell Admin Legacy Fund 183 Brumpton, Gerry Memorial Fund 15,801 Herdman Family Fund 10,300 Budgen, Dr. Claire Memorial Fund 11,000 Hergesheimer Family Fund 1,000 Bull, Capt. C. R. Family Fund 31,115 Hikichi, Dan Memorial Award Fund 30,000 Capozzi Family Fund 321,471 Hindle, Jennifer Arts Fund 64,283 Capozzi, Herb Memorial Fund 8,334 Hobson Family COLT Fund 63,069 Cardoso Family Fund (in memory of Paul Cardoso) 19,916 Hobson Family Fund 200,512 Carruthers/Meikle Family Fund 11,253 Howell, Morley Oswald Fund 25,853 Cheety, Mary H. Fund 51,500 Hoyle, Una & William Family Fund 7,030 Clarke, Dr. David Bursary Fund 15,400 Huber, Victoria & Joseph Fund 77,142 Cochran, Daryl Legacy Fund 51,520 Hughes, J W Fund 10,977 Collins, K & M Bursary Fund 8,138 Hunter, Cynthia A. (Ellis) Fund 78,127 Corrado, Am Scholarship Fund 13,657 Hunter, Cynthia Fund for COLT 19,940 Crossley, Edith M Memorial Fund 48,756 Hussey, Eric Shane Fund 4,370 Davies Family Fund 22,007 Hyde, G.S. Fund 125,337 Day, Ephriam Arthur Family Fund 5,253 Jackson, Douglas & Livia Fund 10,300 De Bosch Kemper Family Fund 30,000 Jacobson, Dorothy Bursary Fund 60,081 Dearle, Donald & Ann Fund 226,119 Jones, Bruce & Jacqueline Fund 11,482 Dolman Family Millennium Fund 9,322 Katsuta, Martha Fund 2,020,467 Dudgeon, Ernest Fund 5,150 KDG Hutchinson Fund 3,273 Edwards, John & Linda Family Fund 98,429 Khoo, Dr. K. & N. Nadeau Family Fund 20,450 Ellis Family Fund 51,500 Kitt, William & Charlotte Fund 798,275 Erskine, Suzanne Memorial Fund 10,815 Kiwanis W. Cecil Law Memorial Fund 5,344 Fabris, MT/Chappie P Fund 121,931 Kotler, Mel & Dina Fund 41,444 Falkowski, John & Wendy Fund 21,244 KSER Scholarship Fund 214,178 Fee, Russel & Elsie Family Fund 56,650 Langley, Jim Memorial Private Pilot Fund 2,936 Fennell, William & Patricia Family Fund Lapointe Family Fund 25,750 (in memory of James H. Gray) 42,579 Lefebvre Dosch, Travis Memorial Fund 10,609 Fitzpatrick, Hon. Ross Family Fund 106,313 Lightbody, Walley and Marietta Family Fund 12,225 Flett, Majorie & Perry Fund 7,210 Lloyd/Farrally Scholarship Fund 15,969 Flock Family Fund 15,265 Mabee, Bernice Memorial Fund 20,703 Gallucci, Carmela & Elmo Fund 75,705 Mackenzie Family Fund 54,226
21 Endowment Funds
Mackenzie, Ian H. Bursary Fund 200,000 Schmidt, Werner Family Fund 10,300 Malcolm English, Paddy Scholarship for Schnepf Family Fund 25,750 the Performing Arts Fund 17,119 Scott, J.W. & M.E. Family Fund 26,328 Mann, Joan & Al Community Fund 19,495 Serwa, Cliff & Lois Fund 169,016 Marshall, L. E. Family Fund 5,150 Serwa, Jack & Helen Fund 31,626 McConachie, D G Family Fund 8,266 Simpson, Joan & Horace Family Fund 25,855 McIntosh, Marie Kelowna Community Simpson, S M Family Fund 21,857 Music School Fund 20,600 Smart Move Fund 66,784 McKergow Family Fund 10,766 Smit, Ben Fund 6,396 McMurchy, Bertha & A. Cameron Fund 5,150 Smith, J Bruce & Ann G Family Fund 375,228 McNeill, Britta Fund 815,633 Spicer, John & Irene Fund 568,809 Mills, Dorothy Fund 121,500 Stewart, Richard John Family Fund 69,746 Mills, Fiona Elizabeth Bursary Fund 10,415 Stuart, Charles E Family Fund 5,150 Mills, James P. Memorial Fund 309,000 Stuart, Jim & Anna Family Fund 5,150 Moody, Leonora & Dwight Fund 51,500 Surtees, Ursula Endowment Fund 6,169 Moore, A.W. & L. Fund 56,135 Suttie, Charles M. Endowment Fund 34,130 Moore, Cecil E. & Vera I. Fund 945,373 Tailyour, Dr. Joan Fund 517,000 Morrison, Estate of Eleanor Fund 261,934 Tait, Roger Memorial Fund 5,665 Mountain Shadows Fund 5,686 Tonto Endowment Fund 30,900 Neave, Mary Catherine Bursary Fund 10,610 Tozer, Anita Memorial Fund 10,903 Newsom, John W. & Barbara Fund 103,356 Trinity Fund 18,300 Nicholas, Larry Memorial Sports Fund 29,875 Truswell Scholarship Fund 51,947 Oakley Family Endowment Fund 1,965 Tuck, Dr. Steven & Terry Fund 10,263 Ogelski, Edward & Shirley Animal Welfare Fund 10,476 Turri Family Fund 28,660 Ottman Fund 157,588 Tutt, Mike & Cherald Family Fund 96,174 Petraroia, Dominic & Sharon Family Fund 15,450 Tutt, Mike & Cherald Family Fund #2 234,285 Pettman, Charles Family Fund 30,559 van Dijken, Trientje Fund 9,929 Pettman, Harold & Marina Fund 24,247 Vataman Fund 157,040 Peverley, Rea & Veta Fund 654,985 Wace, Lionel & Helen Fund 59,748 Pickering, Trev & Verna Family Fund 20,694 Watts, Roger Memorial Fund 16,490 Pollard, Aubrey Roy Family Fund 64,640 White / Elliott Family Fund 24,947 Pritchard, Colin & Lois Foundation Fund 50,000 Whiteside, Catherine Memorial Fund 18,510 Pritchard, Colin & Lois Okanagan Symphony Whitson, Ruth Nuyens Fund 20,555 Orchestra Fund 18,957 Wiens, Peter & Mary Fund 216,636 Quadburn Foundation Fund 53,540 Wilhelm, Lisa Memorial Fund 39,600 Quaedvlieg, Judy & Greg Fund 15,481 Williams Family Good Earth Fund 51,000 Rampone, Camillo Family Fund 5,425 Wilson, James Donald Fund 13,204 Reece, Thomas & Eleanor Fund 20,786 Witt, John A Fund 10,300 Reynold’s Tuba Fund 56,030 Woodworth, John & Nancy Fund 206,035 Reynolds, A.B. & M.G. Fund 2,120,314 Zimmerman, L Memorial Fund 5,253 Rix Family Foundation Fund 51,500 Total $21,166,061 Rometsch, Willie Foundation Fund 10,000 Ross, Bob Memorial Fund 6,653 GRAND TOTAL: $29,212,051 Russell, Ron & Priscilla Fund 72,199 Russell, Taraleigh Memorial Fund 48,228 Rutland Minor Baseball Association/Paul Spoljaric Fund 10,300 Sarnecki, Ken Memorial Fund 5,392
22 Statement of operations and changes in net assets
Central Okanagan Foundation Year ended August 31, 2019
Restricted Unrestricted Total Total Flow- Endowment Capital Allocations Impact Investment Operations through 2019 2018 Funds Fund Reserve Fund Fund Fund Funds Revenue Endowment contributions 2,134,208 2,134,208 2,203,703 Flow-through donations • General 1,570,922 1,570,922 1,108,781 • City of Kelowna grants 187,00 19,700 206,700 202,578 • District of Peachland 2,000 grants • Bursary and scholarship 17,058 17,058 8,054 Investment returns • Interest and dividends 277,693 277,693 239,210 • Gain on equity portfolio 846,064 846,064 2,586,282 Donations 151,440 499 151,939 357,258 Special Projects 106,731 106,731 117,150 Sub-project Costs 741,034 741,034 723,722 In-kind Contributions • Annual Report 8,000 8,000 8,000 • Insurance Premiums 40,237 40,237 40,237 2,134,208 1,776,980 - - 151,440 1,123,757 916,201 6,102,586 7,594,975 Expenditures - - Administration 653,310 653,310 675,146 Administration Fee 345,883 345,883 322,935 Amortization 11,338 11,338 12,355 Distributions 68,511 1,528,155 1,596,666 962,313 Special Sub-project Costs 741,034 741,034 723,722 Flow-through funds 1,714,464 1,714,464 1,977,459 Investment management 213,693 213,693 209,690 fee - 1,714,464 11,338 - 68,511 1,741,848 1,394,344 4,930,505 4,558,685 Excess (deficiency) of revenue over 2,134,208 62,516 (11,338) - 82,929 (618,091) (478,143) 1,172,081 3,014,290 expenditures Net assets, 27,044,238 1,169,579 20,466 2,600,320 586,308 2,109,790 33,530,701 30,516,411 beginning of year Excess (deficiency) of revenue over 2,134,208 62,516 (11,338) 82,929 (618,091) (478,143) 1,172,081 3,014,290 expenditures Interfund transfers 39,695 (71,760) 31,118 239,840 171,259 (888,295) 478,143 - - Net assets, end of year 29,218,141 1,160,335 40,246 2,840,160 840,496 603,404 0 34,702,782 33,530,701
Prepared by Management. For a full copy of our audited financial statements, please contact our office.
23 Year in review
Investment Policy Statement
The Foundation’s Investment Policy is managed by its Investment Committee and is closely monitored to ensure the investment portfolio ranges are maintained. The neutral position of the investment portfolio is 60% in equities and 40% in fixed income (i.e. bonds and cash).
As of August 31, 2019, the Investment Portfolio was as follows:
EQUITY Canadian 25.4% US 18.0% 60.6% International 17.1%
FIXED F.I. 36.3% Data as of Sept 30, 2019 Cash 3.2% 39.4%
COF 6 Year Endowment Disbursement History
3,000,000 RATE RATE 6.0% 10.5% 2,250,000 RATE RATE RATE RATE 3.5% 3.5% 4.5% 3.5% 1,500,000
750,000 $ Disbursed from Endowments
$978,256 $1,573,165 $854,161 $1,062,053 $779,418 $2,084,172 0 2019-20 2018-19 2017-18 2016-17 2015-16 2014-15
24 Foundation leadership
2018-2019 Board of Directors Back, left to right: Mary Butterfield, Mike Gilmore(Treasurer) , Brian Sanders, Chair Sharon McCoubrey (Past Chair) McCoubrey, Past Chair Front, left to right: Brian Sanders (Chair), Alison Moscrop, Mike Gilmore, Treasurer Karen Hill Alison Moscrop Regrets: Raghwa Gopal & Anita Boehm Anita Boehm Raghwa Gopal Mary Butterfield As a member in good standing of Community Karen Hill Foundations of Canada, the Central Okanagan Foundation shares a commitment to demonstrating philanthropy as a powerful catalyst for strengthening communities.
25 COF Staff, left to right: Michael Grundy, Abbie Norrish, Richard Roy, David Knapp, Cheryl Miller, Kurt Ostermann, and Lucie Bardos
David Knapp, Michael Grundy Executive Director Financial Administrator [email protected] [email protected]
Cheryl Miller, Richard Roy Director of Grants & Community Initiatives Community Entity Coordinator [email protected] [email protected]
Abbie Norrish Kurt Ostermann Coordinator of Grants & Community Initiatives Administrative Assistant [email protected] [email protected]
26 Where to find us
Landmark 1, 306-1726 Dolphin Ave Kelowna BC, V1Y 9R9 250-861-6160 www.CentralOkanaganFoundation.org
Central Okanagan Foundation
@centralokanagan centralokanaganfoundation