In 1943, the Vancouver Foundation received its first gift – $1,000 from Alice McKay, saved from her secretarial job. That was the beginning of an endowment fund that has supported countless charities in British Columbia thanks to individual and corporate generosity, much of it in the form of legacy gifts. What kind of legacy will you leave behind?
“Death and dying–this is an uncomfortable conversation and so easy to put aside,” says Craig Hikida, vice-president of donor services for Vancouver Foundation. “But families can take comfort knowing their loved ones’ wishes have been fulfilled. Having that conversation during one’s lifetime alleviates the burden of having to decipher these wishes after the fact.”
Legacy giving is important for the community, as well as the donors. “If you have been involved in a charitable organization or have received services, wouldn’t you want that organization to flourish beyond your lifetime?” Hikida asks.
Vancouver Foundation works on an endowment model where donors commit a gift amount, the foundation invests it, and the income generated goes to serving the purpose, in effect creating a life-long legacy.
Through this model, Alice McKay’s $1,000 has grown to $1.3 million.
“It is interesting that the $1,000 is still at work,” Hikida says. “When we look at a mature endowment model, the amount generated will overtake the amount given, and the gift lasts forever.”
During the height of COVID-19 in BC, the charitable sector took a hit, and Vancouver Foundation was there to help. “We were able to activate funds and support the charitable sector very quickly because of donor gifts left years ago and entrusted to us,” Hikida says. “Those donors trusted us to understand our community needs and how to support the most vulnerable.”
To read the full article, visit: https://www.bcbusiness.ca/Gifted-for-Life
“Death and dying–this is an uncomfortable conversation and so easy to put aside,” says Craig Hikida, vice-president of donor services for Vancouver Foundation. “But families can take comfort knowing their loved ones’ wishes have been fulfilled. Having that conversation during one’s lifetime alleviates the burden of having to decipher these wishes after the fact.”
Legacy giving is important for the community, as well as the donors. “If you have been involved in a charitable organization or have received services, wouldn’t you want that organization to flourish beyond your lifetime?” Hikida asks.
Vancouver Foundation works on an endowment model where donors commit a gift amount, the foundation invests it, and the income generated goes to serving the purpose, in effect creating a life-long legacy.
Through this model, Alice McKay’s $1,000 has grown to $1.3 million.
“It is interesting that the $1,000 is still at work,” Hikida says. “When we look at a mature endowment model, the amount generated will overtake the amount given, and the gift lasts forever.”
During the height of COVID-19 in BC, the charitable sector took a hit, and Vancouver Foundation was there to help. “We were able to activate funds and support the charitable sector very quickly because of donor gifts left years ago and entrusted to us,” Hikida says. “Those donors trusted us to understand our community needs and how to support the most vulnerable.”
To read the full article, visit: https://www.bcbusiness.ca/Gifted-for-Life