February 13, 2008
Pilot Funding Program launched with Community Foundations
Kamloops. Jim Thomson, Chair of the Southern Interior Development Initiative Trust (SIDIT), is pleased to announce the launch of a new funding program with the Cranbrook & District, Central Okanagan and Phoenix (Grand Forks and area) Community Foundations.
Under these partnerships SIDIT funding by way of grants will be made to community based not-for-profit and charitable organizations undertaking initiatives that deliver economic development benefits to the Southern Interior. Issuance of proposal calls and administration of each $25,000 fund will be the responsibility of the Community Foundations.
This pilot project will be evaluated in early 2008 and, if successful, SIDIT intends to expand it to all Community Foundations within the Southern Interior later in the year.
According to Leanne Hammond Komori, Executive Director of the Central Okanagan Foundation, this is just the kind of innovative partnership the community foundation has been looking for. “The role of a community foundation is first and foremost to get granting monies out into the not-for-profit sector and the chance to do this by working with the Southern Interior Development Trust is an exciting opportunity. We have the granting expertise, the SIDIT has the money, and the community clearly has the need. The potential here is huge.”
“This partnership advances a key component of our strategic plan” explained Jim Thomson. “We wish to positively impact economic development within the Southern Interior in the key sectors of forestry, pine beetle recovery, agriculture, energy, transportation, mining, Olympic opportunities, tourism, economic development and small business.
By developing strategic alliances with agencies such as Community Foundations, SIDIT can maximize funding available for economic development opportunities, minimize internal administration and help strengthen its partner agencies.
SIDIT CEO Ron Baker explains “this partnership is designed to attract initiatives that have both economic development and social benefits. The synergy created by combining resources means we can collectively accomplish more with less overall administrative costs, benefiting the partnering agencies and the communities we serve. By first piloting this initiative with select Community Foundations we can evaluate the program before expanding it to all Southern Interior, Community Foundations.”
Maxine Ruzicka, Chair of the Phoenix Foundation, is extremely pleased that SIDIT recognizes the role that community foundations play in building the capacity of their communities and particularly pleased that the Phoenix Foundation was selected as one of the pilot groups for the granting process. “We are looking forward to partnering with SIDIT to make grants available for initiatives that will provide economic benefit to the Boundary Region.”
About Community Foundations
Community foundations are locally-run public foundations which operate in communities throughout Canada. Their role is to build and manage endowment funds donated by individuals, businesses and organizations and provide an ongoing source of income for the country’s growing not-for-profit sector.
Each community foundation is autonomous and governed by a volunteer board of local leaders. There are 15 Community Foundations operating in the Southern Interior.
SIDIT is a Public Trust created by the Province of British Columbia with a $50 million allocation to support economic development in the Southern Interior. Governed by a 13 member Board of Directors representing local government and the private sector, SIDIT focuses on opportunities demonstrating measurable and sustainable economic benefits.
