TBM to launch a community foundation in support of local charities

The committee that drives many of the Town of The Blue Mountains' (TBM) community fundraising events will soon transfer into a more formal foundation structure.

“This progression is necessary and much needed. I think it will go a long way in the community's eye’s in terms of establishing true avenues of revenue,” said Peter Bordignon, TBM council member during a council meeting held on Tuesday afternoon. 

Earlier this year, TBM council voted to strike a staff task force in order to create and implement a communications plan as well as develop the corporate structure that will form the basis of a new community foundation. 

“The corporate structure is truly a community-led and driven foundation with the entity 'owned' by members and governed by a board of directors,” explained Ruth Prince, director of finance and IT for TBM. 

Council members also approved the use of $20,000 from the town’s working capital reserve fund to fund the creation of the foundation. 

“The town went from a traditional base of paying tax dollars into a budget line to give to local community groups, as the need is very great here in the TBM,” explained Bordingnon.   

Council established the Grants and Donations committee of council, and hosted fundraising events over the last two years, using the revenue instead of tax dollars to support community groups  

"As a town, I think we need to take that next logical step and move into a true community foundation that is at arm's length from the council with a board of directors that is chaired by the public,” he continued. 

The Blue Mountains Foundation will consist of two divisions - a legacy fund that will receive and manage the money donated by third parties, which will be moved to an endowment fund and distributed to local charities. 

The second division of the foundation will be responsible for organizing and running local fundraising events. In the past, TBM's Grants and Donation committee has organized several fundraising events, such as the 2020 Valentine's Day Gala event, Lobsterfest and Oktoberfest. 

“So, when the Meaford Hospital Foundation comes calling or the Collingwood Hospital, as they go into their expansion, any of these organizations will be able to apply to this foundation at a grassroots, very hyper-local level,” Bordingnon continued.  

The foundation's governance will consist of nine board members and 11 non-board members. The five members of TBM’s Grants and Foundation committee of council are expected to be the founding members of the foundation. 

The 11 non-board members will be appointed by the board, as the board sees fit. The individuals selected will be able to serve in the position for three years at which time the foundation will reassign or renew the position for another three years.

The task force has also outlined the foundation’s objectives, which include:

• At the direction of the contributor, to receive and maintain a fund or funds and to apply all or a part of the principal and income thereof from time to time, to charitable organizations that are also registered charities under the Income Tax Act 
• To organize and operate fundraising events in TBM that will generate net proceeds from time to time, that can be applied to charitable organizations that are also registered charities under the Income Tax Act
• At the direction of the contributor, to receive and maintain a fund with the Grey Bruce Foundation or any other applicable third-party fund and to apply all or a part of the principal and income thereof from time to time as determined by the Grey Bruce Foundation or any other applicable third-party fund, to charitable organizations that are also registered charities under the Income Tax Act  
• To manage the assets of the foundation in any manner as they see fit for distribution to charitable organizations that are also registered charities under the Income Tax Act

“The task force will continue its work and take direction from council and other advisors regarding further definition of these core structural components,” Prince added. 

Once officially formed, the Blue Mountains Foundation will apply for federal charity status.