FREQUENTLY ASKED QUESTIONS
Why should I make The Gary Bennett Family Fund of The Central Okanagan Foundation my 'Charity of Choice'?
There are four main reasons which make this Fund a ‘standout’ amongst other Canadian charitable organizations.
1. It has a very compelling mission; that is, to financially support the positive development of our community’s youth. Please see our Mission Statement. .
2. The Central Okanagan Foundation is professionally managed by a competent and caring board of directors.
3. Our Guarantee: 100% of your donation goes towards our mission. All fund costs are borne by the Gary Bennett family.
4. We have an admirable operational ethic. It is based on Rotary’s Four Way Test. The test asks the following questions: Of the things we think, say or do
• Is it the TRUTH?
• Is it FAIR to all concerned?
• Will it build GOODWILL and BETTER FRIENDSHIPS?
• Will it be BENEFICIAL to all concerned?
5. We emulate this operational ethic and consider it to be a key component of managing our Fund. We value our Donors, keep our commitments to them and value their participation. We want to build long term relationships.
What is the ‘Mission’ of The Fund?
Many or our community’s youth face incredible challenges in getting the education necessary to become productive citizens. The mission of the Gary Bennett Family Fund in the Central Okanagan Foundation is to assist our community’s youth to grow and mature as contributing Canadian citizens.
This support takes three main forms.
1. To provide financial assistance to various Breakfast Programs in selected Kelowna schools located in challenged neighbourhoods and also to the Food For Thought program which serves all schools.
2. The provision of post-secondary scholarships to selected participants who face considerable challenges. It is important that these students expand their education and develop the skills necessary to find success in their lives.
3. The provision of scholarships for Central School / Okanagan College Gateway students to further their training.
While the main objective of the Fund is to support our community’s challenged youth, it will also provide support for other causes of interest to the Gary Bennett family, such as our community’s Hospice facility.
The Foundation also wants to provide an opportunity for those individuals, corporations and organizations that wish to assist the Fund in these worthwhile endeavors to donate to a well-managed, cost-effective, non-profit charitable foundation.
Who can donate to the Fund?
Any individual, corporation, or institution that appreciates the Mission of The Fund.
Do I have a choice within the Gary Bennett Family Fund?
Yes, the Fund is made up of two segments, the Endowment Fund and the Flow-through Fund.
The Endowment Fund contains the capital of the fund that has been donated by Gary, Maureen and Candace Bennett. Donations to this fund by the Bennett family will be made on an annual basis. In addition, this fund will eventually receive the residue of the Bennett family estate. This fund will generate an income to support our community on a ongoing basis.
The Flow-through Fund was set up to receive income from the Endowment Fund, donations from the Gary Bennett Family and donations from their friends and associates who would like to support the initiatives supported by The Fund. One hundred percent of donations to this fund will be targeted toward our mission in the present time period and will not be added to the capital of the Endowment Fund. Our community will benefit today from the generous donations of others to this fund.
What happens to my donation?
Unless you specify that you want your donation to go into our Endowment section, your donation will be placed into the Fund’s Flow-through section to be disbursed in the present time period.
Can we designate that our donation be used for a specific initiative of the Fund.
Yes, send us an email indicating which of the Fund’s initiatives that you are interested in supporting.
How will I get my tax receipt?
If you send a cheque, your charitable tax receipt will be mailed to you by The Central Okanagan Foundation. If you donate on-line, your tax receipt will be emailed to you immediately. See the Click on the ‘Get Involved’ tab for instructions.
Can I make use of the Fund in my estate planning?
Definitely, contact The Central Okanagan Foundation to discuss the bequest features of the Foundation. Make sure that you specify that your donation is to go to The Gary Bennett Family Fund. The contact information is below.
The Central Okanagan Foundation, Landmark 1, 1726 Dolphin Ave #306, Kelowna, BC, V1Y 9R9
Phone: 250-861-6160
Fax: 250-861-6156
Email: info@centralokanaganfoundation.org
Website: www.centralokanaganfoundation.org
How will my donation be recognized?
Donors will be recognized for their generosity according to The Central Okanagan Foundation’s Recognition Policy. You generosity will also be recognized by a letter of appreciation and also on this website.
