The Sunshine Coast Golf and Country Club was abuzz with excitement as whispers and questions filled the room of politicians and community members gathered last Thursday.
The group was only told they would be hearing "an announcement" from the Sunshine Coast Community Foundation (SCCF), and while it was suspected a large donation was the reason for the gathering, no one really knew what to expect.
"I'm absolutely thrilled to be here today to announce that Ms. Barron left the residue of her estate to the foundation and that residue is in the amount of $1.9 million," SCCF Chair Peter Bogardus said to gasps and applause from the crowd gathered Feb. 23.
The $1.9 million bequest is the largest single donation ever received by the foundation.
The money comes from the estate of Vera Elizabeth Barron, a Gibsons woman who died at the age of 93 on May 14, 2011. Barron was a hard worker who made her millions the old-fashioned way, by scrimping and saving.
Described as "a tiny woman with a big heart," Barron left the majority of her estate to help others living in the coastal community she loved.
"Vera and her sister Dorothy spent perhaps the best years of their lives as children and as adults on the Sunshine Coast. They wished in turn to better the lives of others living on the Sunshine Coast," said retired lawyer and executor of the estate Hugh Jones. "To best do that, Vera in her will selected the Sunshine Coast Community Foundation as an organization made up and directed by caring, competent and involved local persons with a good knowledge of needs and charitable opportunities on the Sunshine Coast."
Bogardus said the gift will go a long way to fulfilling the foundation's mandate to contribute to the quality of life on the Sunshine Coast by building endowments, making strategic grants and inspiring community leadership.
The donation also allows the foundation to fulfill their vision of being "a valued partner in philanthropy, enriching life on the Sunshine Coast in perpetuity."
To best use the $1.9 million inheritance, the SCCF has decided to divide it into five portions.
"I'm just hoping we got it right because she's entrusted her community through this Foundation with the [majority] of her estate," Bogardus said, noting two other charities were also granted funds.
Approximately $115,000 will be used for The Barron Enhancement Plan, which will see other endowments secured by Nov. 1, 2011 increased by 20 per cent, raising the earnings of each endowment.
The SCCF also plans to use $200,000 for an operating endowment.
"I think we've got to look to the foundation's future. We also know we're going to run into some additional costs with our increased prosperity, and so we've created this special endowment, the annual earnings of which will be applied to help us defray our operating costs," Bogardus said.
A total of $180,000 will go into the SCCF Enhancement for Growth Allocation, which will be used to pay for a new part-time executive director and an office at the Cowrie Street professional building and help fund additional hours of work during granting season.
"This additional sum is probably going to multiply in the very near future our annual granting from, let's grab a figure out of the air and say $30,000 to $120,000 a year. That's an awfully significant increase, and so we know that we're going to be working a lot harder," Bogardus said.
The SCCF has decided to put $500,000 into The Barron Incentive Plan, which will match at 50 per cent (up to $50,000 per endowment) donations made after November 1, 2011. The minimum size of an eligible donation for the matching grant is $2,000 and the program will end either when the money runs out or on June 30, 2012.
"We sort of think that there may be some people out there who will be very interested in this, or some local businesses on the Coast, because we can really assist them in giving back to their community," Bogardus said.
The residual $900,000 of Barron's donation to the foundation will be used for the Vera Elizabeth Barron Memorial Endowment.
The annual distributable earnings on that endowment will be granted yearly to charities in need on the Coast.
Bogardus noted that last year's Vital Signs report, which was created by the Foundation and offers a snapshot of the community, identifies "hot spots" that will help the SCCF decide where the money is most needed this year.
"I'm hoping that Vera will look down on this and think this is a good thing for us to have done," Bogardus said.
The SCCF is currently accepting letters of interest for this year's granting cycle. The deadline for letter submissions is March 15.
To find out more, see www.sccfoundation.com or call 604-741-7360.
