Saving for a rainy day
ENDOWMENT FUNDS: ANCHORS IN THE STORM
No one can predict what the future will bring, which is why an endowment fund is critically important to an organization’s sustainability, future financial stability and growth, solidifying and diversifying available resources for the long-term.
An endowment is a fund of money, the principal of which is held in perpetuity and invested. An endowment fund provides an organization with a solid financial foundation. Furthermore, the interest from an endowment fund is a source of income, and that translates into the availability of financial resources for the lean times or to meet extraordinary expenditures. These monies can also be used to cover capital expenditures, fund special projects and programs, or simply meet ongoing expenses.
Early on, the Sens Foundation established two endowment funds on behalf of Roger’s House, which are supported through donations from the community. Contributions to the endowment funds are truly investments, helping to ensure that Roger’s House will be able to serve regional families for many years to come.
Dancing in the Rain for Roger’s House is a major gift program, with a goal to raise $1 million over three years. Some of these funds will be allocated as contributions to the two endowment funds that the Sens Foundation established for Roger’s House. Some of the funds raised will also be used to assist with the ever-increasing day-to-day costs of operating the house, to expand an underused area of the existing building, and to ensure that west Quebec families have access to the one-of-a-kind pediatric hospice services that Roger’s House provides to the National Capital Region.