This week I'd like to briefly summarize what we've covered in this column to date.  The first column defined a community foundation as an independent, volunteer driven, charitable organization that aims to strengthen its community by facilitating philanthropy, partnering with donors to build permanent investment funds to support community projects, and providing leadership on issues of broad community concern.

Community Foundations hold investment funds (called endowed funds) that are built up through tax deductible cash contributions or donations of other assets such as stock.  For example, the Friends of the Surrey Museum Fund is an endowment fund held by the Surrey Foundation.  Created by a donor who recently passed away, the individual added to the fund he created during his lifetime by contributing a significant portion of his estate to the fund.  Much of the donor's contributions were matched dollar for dollar by a BC Government initiative, further increasing the size of the fund.  The Surrey Foundation also holds various scholarship funds, including the new Manjit Panghali Memorial Fund which has grown as various members of the community have donated.  These are just a couple of examples of funds held by community foundations.

The purpose of donations to the Foundation is to build permanent investment funds that allow grants to local charities and help make a difference in the community.  We held our granting reception on May 24th where we announced and presented cheques to successful 2007 grant applicants.  Visit our website to learn who received grants this year.