The SSC Endowment Fund

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In the SSC’s First Annual Fundraising Drive, which took place in 2016, the Past Presidents were invited to make substantial gifts in support of the broad educational mission of the SSC, and did so with great generosity, to a total of \$31,305. Other SSC members were then invited to contribute to match these funds. By the end of 2016 altogether $42,420 had been collected. The total collected has continued to increase, as SSC members continue to respond with enthusiasm. 

In June 2017 the SSC Fundraising Committee was formed and began to consider and investigate the establishment of an endowment (permanent fund). The purposes were to allow donated funds to grow and to use the existence of the endowment to attract planned gifts and corporate donations. At its meeting of March 16, 2018 the SSC Board accepted the recommendation of the Fundraising Committee to use \$20,000 from the donated funds to start a permanent fund managed by the Ottawa Community Foundation. The disbursement from the fund to the SSC will be 4.25% each year and the service fee will be 1.5%, with any investment return from the fund above 5.75% being added to the principal.

The funds not deposited to the endowment are being directed toward education and outreach projects proposed by SSC committees and the general membership. In future new deposits to the endowment will be made from time to time as more donated funds accumulate.  

The Ottawa Community Foundation (OCF) celebrated its 30th anniversary in 2017.  Besides managing funds for many charitable organizations, large and small, the OCF advises potential donors of opportunities. For example, a person or group interested in donating to public education or to advancing numeracy might be directed to the SSC Endowment Fund. In 2012 the OCF became a signatory to the United Nations Principles for Responsible Investment. It aspires to incorporate environmental, social and governance (ESG) considerations into its investment practices. A member of the national network Community Foundations of Canada, the OCF is also a signatory to the Declaration of Action in support of work on Reconciliation.

Mary Thompson, Chair
Hugh Chipman                    Melody Ghaharmani
Edward Chen                      Bovas Abraham
Shirley Mills                         Karen Kopciuk
Bruce Smith                        Cody Hyndman

Tuesday, October 16, 2018

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