Coquitlam Foundation announces funding intentions for 2009

Monday, January 12, 2009

The Coquitlam Foundation has announced that, despite the challenging economic times, it intends to distribute funds in 2009 at approximately the same level as in recent years.

This comes as good news to the many local organizations and individuals that look forward to receiving assistance from the non-profit foundation, which has served Coquitlam since 1992.
Last month, Community Foundations of Canada reported that its survey of 160 foundations found that 90 percent were planning to continue providing financial support to local groups in the face of the economic downturn, but that many, including the Vancouver Foundation, were planning to reduce their disbursements.

Many community foundations have also reported significant losses in their investment portfolios because of the declining stock market.

However, Colleen Talbot, Chair of the Coquitlam Foundation, says the Coquitlam Foundation’s prudent investment strategy has helped it withstand the downturn better than most. In fact, while the foundation’s asset base has decreased marginally, its earnings are projected to increase this year.

The Coquitlam Foundation distributed $91,000 in grants and bursaries last fiscal year. Grant recipients included groups ranging from the Dogwood Dragon Boat Team and the B.C. Wheelchair Basketball Society to the PoCoMo Youth Services Society and the Children of the Streets Society. Applications for new disbursements will be accepted later this winter.

As in past years, the Coquitlam Foundation is placing a special emphasis on arts and culture, youth, education, and literacy. “In addition, we hope to be able to support organizations that are addressing changing needs in these challenging economic times,” says Talbot.

The Coquitlam Foundation encourages and supports creative, targeted philanthropy that builds a vibrant, sustainable, and healthy community.

Donations can be sent to the Coquitlam Foundation, c/o P.O. Box 2, 1207 Pinetree Way, Coquitlam, B.C., Canada, V3B 7Y3. The Coquitlam Foundation is registered with Canada Revenue as a charitable organization, Number 890762347 RR0001.

Contacts:
Coquitlam Foundation Executive Director Laurel Lawson: 778.995.7152
Coquitlam Foundation Chair Colleen Talbot: 604.290.6128
Marketing and Communications Committee Chair Terry O’Neill: 604.329.7808
Community Foundations of Canada: 902.461.8284