What is The Community Foundation of Prince Edward Island?
The Community Foundation of Prince Edward Island is a charitable
organization that
focuses on enhancing the quality of life in the communities of Prince
Edward Island.
It is a registered, non-profit body which provides a means for
individuals, families, community groups, corporations, even private
foundations, to support charitable activities and contribute
to many diverse needs in Prince Edward Island communities. As a registered
charity, all
qualifying donations are tax deductible.
The Foundation has received an identification number from the IRS and is
now in a position to issue receipts to US taxpayers which will be
recognized by the IRS.
For those who want to give something back to the community, The Community
Foundation
of Prince Edward Island may be the vehicle of choice to fulfill charitable
interests.
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How does the Foundation help the quality of life here on Prince Edward
Island?
The Community Foundation of Prince Edward Island exists to oversee
permanent
endowment funds set up by members of its community and to make charitable
grants to local community organizations. The Foundation solicits and
accepts charitable gifts for the purpose of establishing and building
permanent endowment funds.
One of the unique aspects of community foundations is that they exist for
the benefit of the community forever. The Foundation pools the charitable
gifts of many donors into permanent endowment funds
with investment revenue used to meet the emerging and changing needs of
the community. The principal
is never touched and continues to grow with each new gift, generating
income to meet community needs
for years to come.
The Foundation's mandate is to extend grants to many aspects of community
life, including
human services, arts and culture, education, the environment, religion and
health and physical activity - a good way to enhance the quality of life
for all in our communities.
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How did it begin?
The idea of community foundations began in Cleveland, Ohio in 1908, and
came to Canada in 1921 with the formation of the Winnipeg Foundation.
Today, there are over 143 community foundations in Canada with collective
assets of $1 billion.
The Community Foundation of Prince Edward Island is one of the youngest in
Canada,
incorporated in January, 1993. Our asset base began with a number of
contributions from individuals
and businesses and is growing each year.
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How does The Community Foundation of Prince Edward Island work?
The Community Foundation of Prince Edward Island is governed by a
volunteer Board of Directors and all of our committees are made up of
volunteers from across the Island.
To keep administrative costs to a minimum in order to ensure donations are
directed and maximized for
the benefit of the communities, the Foundation relies heavily on the
voluntary contribution of time and
talents by a variety of professionals. Lawyers, estate planners and
accountants, bankers and business people all help the Foundation
accomplish its goals. A small paid staff is retained on a casual basis to
support the Board and help maintain the office.
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Tax Numbers
Canada Charitable Registration Number
890011190RR0001
United States Internal Revenue Number
30-0050801
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