I’m Kathy Humphreys, former executive director of the Kamloops Symphony Society. In 2007, when I was approached about starting an endowment fund with the BC Interior Community Foundation, the prospect seemed far too daunting and the probability of success very slight.
There were some serious concerns. What if we expended valuable resources on an endowment fundraising campaign that did not produce results? What if our donors contributed to the endowment fund and annual donations we really needed to meet our budget commitments fell short? How would we ever raise enough money to provide an annual return that would really make a difference?
The BC Arts Renaissance Fund, an endowment matching program introduced by the BC government, as well as the opportunity to work with two other arts organizations on a joint fundraising campaign, convinced us to give it a try.
Fortunately, the endowment campaign, proceeds from a couple of endowment fundraising events, plus the matching grants, added up quickly. The real turning point came with a completely unexpected and tremendously generous bequest from the estate of the late Richard Dickens. Since then, additional endowed funds such as the Peter Collins Memorial Fund and the Bruce Dunn Legacy Fund, were created to support the Kamloops Symphony Orchestra and Music School. The KSS’s annual return of income from endowed investments has reached more than $53,000 per year and continues to grow.
Now I’m a believer in the benefits of endowment funds. So much so that I was an enthusiastic volunteer member of the BCICF Board of Directors for more than fifteen years.
“The annual interest from our Endowment Fund is our third-largest single source of recurring annual income, and plays a crucial part in sustaining our operations, and achieving our mandate. I would highly encourage other charities to set up Agency Funds through the BCICF, securing financial support into the future.”
Daniel Mills, 2019-2023 executive director of the Kamloops Symphony Society, said:
If you are involved with a charitable organization in our region, contact the BCICF to find out how to start investing in the future of your organization.
If you are an individual who would like to contribute to your community’s vitality, now and in the future, contact the BCICF to find out how your legacy gift can make a difference.