- Armstrong Spallumcheen Museum & Arts Society
Why would a charity that is usually looking for donations make a donation to a Foundation? To plan for the future – that’s why. In 1998, the Board of Directors of the Armstrong Spallumcheen Museum & Arts Society made the bold move of donating $3,931.99 to set up an endowment fund with the Community Foundation of the North Okanagan. However, as is often the case, there was more to the story.
In 1993, a generous benefactor, Sophie Knox, had left a gift in her will to seed an endowment fund to maintain and administer the Armstrong Spallumcheen Museum & Arts Society. Clearly Sophie Knox believed it important to ensure the future of the society and the history of the area she loved. That initial gift was added to by Russell Freeze, who also felt the future of the society was important enough to plan for its future.
Rather than manage these and other estate gifts themselves, the directors of the society’s board, felt it was more prudent to invest these funds with the community foundation and remain focused on the business of running the museum. The Community Foundation of the North Okanagan was pleased to accept a transfer of over $75,000 to add to the Armstrong Spallumcheen Museum & Arts Endowment Fund. Having an endowment fund at the community foundation has provided subsequent donors with a trusted place to consider giving or leaving an estate gift. Community Foundations have the skills and expertise to manage investments and ensure a renewable source of revenue for the museum and arts society. Donor relations and endowment administration are our specialities.
With support from their generous donors, the Armstrong Spallumcheen Museum & Arts Society has watched their endowment fund grow to over $400,000 and looks forward to receiving a substantial annual distribution of income on the fund not just today, but tomorrow and every year in perpetuity.