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By creating the fund under the CFNL umbrella, the Festival will benefit from the experience and expertise of Newfoundland and Labrador’s province-wide community foundation, which was founded in 2002. A community foundation is a vehicle that helps individuals, businesses, and community organizations establish endowment funds as permanent community resources. CFNL, a member of Community Foundations of Canada, holds over $1.2 million in endowed assets and has distributed more than $400,000 in grant funding to a wide range of causes across the province.
“After 25 years, our Festival has become a vital part of the local arts and culture scene”, says SJIWFF Chair, Noreen Golfman. “We decided that it was time to help secure the future of our broad range of activities by creating a long-term endowment and the Community Foundation is the perfect partner to help us make that happen.”
“We are delighted to partner with the Festival to establish the WFF Silver Fund,” says CFNL Chair, Jennifer Guy. “We recognize that a thriving arts scene is part of what makes a community a great place to live, and we see the establishment of this fund as a continuation of our mission to support the arts in our province.”
To launch the WFF Silver Fund, 25 individual and corporate donors will be invited to become founding members of the endowment by providing tax-receipted gifts of $2,500, either in one year or spread over 5 years. Fundraising for the endowment will be an ongoing activity for the Festival’s Board of Directors.