There are many reasons why families decide to open endowment funds with Edmonton Community Foundation (ECF).
For the Baher family, their endowment fund is a way to give back to the community that helped them during their own time of need.
“We had some times in our journey where we were the recipients of help,” Ken Baher says. “And we feel that it’s important to pass that back.”
The Baher Family Fund is a donor-advised fund. That means the Baher family is closely involved in selecting the organizations and causes they wish to support. So far, the Baher Family Fund has provided grants to organizations including Edmonton Symphony’s YONA Sistema program, Youth Empowerment Support Services (YESS), and the Edmonton Women’s Shelter.
“We love the flexibility of the fund and the resources that ECF provides us to decide which organizations to support,” says Ken. “We hope that our children and our grandchildren will feel a connection to the fund, and that they’ll continue the spirit of it even after we’ve passed on.”
Involving your entire family in a tradition of giving is a great way to strengthen your family ties while supporting areas of the community important to you and your children.
Creating a family fund is easier than you think.
Many people equate endowment funds with millions of dollars. In reality, it only takes a minimum of $10,000 before a fund emerges and can begin granting to causes and charities important to your family. Families can also take up to 10 years to reach that threshold.
If you have any questions, contact our Donor Services Team at firstname.lastname@example.org.