Coquitlam Foundation announces new fund to advance library’s mission

Sunday, October 23, 2011

COQUITLAM – Just days before the public unveiling of detailed plans for the new Coquitlam City Centre Library, the Coquitlam Foundation and the Coquitlam Public Library have announced the establishment of a new fund dedicated to furthering the mission of the library.

Called the Coquitlam Public Library Living Legacy Fund, the new donor-advised fund will be employed to assist the library in accomplishing the goals of its mission statement: To connect Coquitlam’s diverse community to creativity, discovery and knowledge.

The Library and the City are scheduled to hold an open-house-style event on Thursday, October 27, from 5:30 p.m.-7:30 p.m. in the Nancy Bennett room, Poirier Library, 575 Poirier Street, to allow the public to view the approved concept floor plans for the new City Centre branch, to be located at 1169 Pinetree Way.

The Coquitlam Public Library Living Legacy Fund, the formal agreement for which was signed Oct. 21 by Colleen Talbot, Chair of the Coquitlam Foundation, and John Meneghello, Chair of the Coquitlam Public Library Board, has been seeded by the Library Board with an initial contribution of $45,278.29.

The fund will henceforth be managed by the Coquitlam Foundation, which also manages more than 20 other foundation-directed and donor-advised funds comprising a total endowment of more than $1.8 million. Because the Coquitlam Foundation is a federally registered charity, all donations to its funds are tax-deductible.

“We are extremely pleased to welcome the Coquitlam Public Library Living Legacy Fund into the foundation family,” Talbot said. “A thriving and vibrant library is crucial to the life of our community, and this new fund will certainly add to its vitality.”

“The timing couldn’t be better,” Meneghello said. “With planning now well underway for the new City Centre Library, the need has never been greater. We are confident that the Coquitlam Foundation’s management of our new fund will enrich the future of the Library and, by extension, the City of Coquitlam.”

A member of the Community Foundations of Canada network, the Coquitlam Foundation manages funds focusing on everything from arts enhancement and academic achievement, to literacy promotion and community service. It distributed $55,000 in grants, scholarships and bursaries at its Awards Night last May.

Donations to the foundation or any of its funds can be made c/o P.O. Box 2, 1207 Pinetree Way, Coquitlam, B.C., Canada, V3B 7Y3, or through the foundation’s website, www.coquitlamfoundation.com. The Coquitlam Foundation’s mission is to encourage and support creative, targeted philanthropy that builds a vibrant, sustainable and healthy community.

Coquitlam Foundation chair Colleen Talbot and Library Board chair John Meneghello.