Shuswap community foundation holds millions in the pocket.
Shuswap community foundation is charity founded July 14, 1994, as a part of Community foundations of Canada{CFC}. Community Foundations of Canada (CFC) is the national leadership organization for Canada’s over 200 local community foundations. As they claimed, CFC with community foundations across the country helps drive local solutions for national change on the issues that matter most to communities. They’re building a movement that connects community foundations, people and partners to create a just, sustainable future.
https://communityfoundations.ca/our-purpose/
Recently, the Shuswap Community Foundation started a fundraiser in support of the people affected by the wildfire in North Shuswap. Funds raised will provide vital assistance to community- based organizations during this time of crisis, helping the community recover and rebuild in the face of this disaster.
Every charity, or non- profit organization must report their financial information from July 1- June 30th. The latest report from July 1 2021 to June 30 2022 shows expenses totalling $901,179, comprised of charitable programs $124,914, management and administration $26,053, gifts to other registered charities and qualified recipients $493,931, and other $256,281.
The T3010 form also shows, that Shuswap community foundation had $366,589.00 in cash, bank or short- term investments, and also $10,717,151.00 in long- term investments for the period reported.
https://apps.cra-arc.gc.ca/ebci/hacc/srch/pub/t3010/v25/t3010Schdl6_dsplyovrvw
For transparency reasons our team requested the Shuswap Community Foundation provide more information about the money sitting in long- term and short- term investments. Specifically we asked where the money came from and why they are not distributing the funds on hand to the communities that need help now. Our request was declined.
The fire cataclysm in North Shuswap has created millions of dollars in damages. Affected people need financial help to cover losses and to rebuild the community. Couldn’t the funds sitting in the bank accounts of the Shuswap Community Foundation be utilized to help North Shore residents right now when it is so urgently needed? What is the purpose of this money? If not for this very purpose then for what?
It is crucial that any charitable organization soliciting funds from the public be completely transparent. We are not sure why the Shuswap Community Foundation has declined to be. Where there is no transparency there is no trust.
DB, CB
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