Foundations raise $890,000+ in 24 hours

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Foundations raise $890,000+ in 24 hours

Details: Published on Tuesday, December 19, 2017

Press Release
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Thanks to the generosity of Manitobans, community foundations across our province raised an incredible $893,448.89 during this year’s 24-Hour Giving Challenge, once again demonstrating why we’re the most generous province in Canada. During the 24-Hour Giving Challenge, The Winnipeg Foundation (TWF) stretched each $5 gift made to community foundations with $1 (to a maximum of $2,000 per foundation).

New this year, the province of Manitoba also contributed $1 for every $5 gift (again to a maximum of $2,000 per foundation). To receive the stretch, gifts had to be made to a foundation’s undesignated fund during the one day last month.

Along with TWF, Manitoba is home to 54 other community foundations – the most community foundations per capita in the country – 52 of which participated in this year’s challenge. From the Nov. 18 challenge Rivers & Area Community Foundation received 24 gifts totalling $15,107.19, which was stretched to $19,107.19. Since gifts to community foundations are endowed, Manitobans’ generosity ensures permanent support for communities.

“We are thrilled with the results of this year’s 24-Hour Giving Challenge,” says Rick Frost, TWF CEO. “This was the biggest stretch ever offered and clearly Manitobans responded, raising nearly $400,000 more than last year. This support helps Manitoba communities flourish forever.”

Municipal Relations Minister Jeff Wharton says, “On behalf of the province, I want to thank Manitobans for their generosity during the challenge. The initiative, led by The Winnipeg Foundation, raised record amounts and brought attention to the important work our community foundations do.”

Highlights of the challenge include 1,609 gifts made, $744,264.54 total gift value, $149,184.36 total stretch value and 27 Manitoba foundations received the maximum $4,000 stretch. Amounts raised during previous 24-Hour Giving Challenge are: $245,428, 2014; $555,868, 2015; $497,115.99, 2016; $893,448.89, 2017.

Gifts to community foundations are pooled and permanently invested. The capital is never spent. Every year, the investments generate income that is distributed as grants to local charities. Community foundations provide support that lasts forever and they help ensure our hometowns are vibrant and thriving.

The Winnipeg Foundation, Canada’s first community foundation, was established in 1921. Built by people from all walks of life, TWF pools and invests gifts entrusted to it to generate grants that benefit a variety of local charitable needs.