Greater subsidy for schools? No more casino? Expand Story Avenue? Through the Marg Stephen Legacy Fund, we could one day achieve our biggest dreams.
In 2010, the Young Alberta Book Society created the Marg Stephen Legacy Fund. This endowment fund through the Edmonton Community Foundation helps to provide stable, long-term funding to YABS operations. Tax receipts will be issued for donations of $10 or more.
Who is Marg Stephen?
Marg Stephen is the founder of the Young Alberta Book Society. She began organizing author tours in schools in the early 1980s for the Canadian Children's Book Centre. The tour was a much bigger success than the program was intended to handle, so Marg recruited local authors and found local funding to support more visits in Alberta schools. Marg started an Edmonton-based organization called the Young Alberta Book Festival Society (we dropped the 'Festival' a few years later) and expanded the author tour even more through the Chrysalis Literary Festival, which is now known as Taleblazers. By the time Marg retired from YABS in 1999, the festival had grown from 50 sessions by 10 artists in the Edmonton area to more than 450 sessions by 40 artists in 160 communities in Alberta!
What is an endowment fund?
An endowment fund is a source of income in which the capital is never spent, but instead carefully invested. A portion of the annual interest comes to us each year, which provides a permanent, stable, ongoing source of income. Unlike grants and sponsorships, this money comes with no string attached; we can use the money from the endownment fund for whatever we need most at the time. We partnered with the Edmonton Community Foundation to take advantage of their wealth of experience and expertise, leaving us to focus on what we do best: fostering literacy and a love of reading among young people in Alberta by providing access to the province's literary artists and their work.
When it comes to endowment funds, size matters! We receive a percentage of the interest earned each year, so more capital means more income. The more we can grow this fund, the more resources we will have to support our programming, the more financial stability we will have, and the more dreams we can fulfill.
How can I help?
There are a variety of ways to support the Marg Stephen Legacy Fund:
1. Cash or cheques made out the Young Alberta Book Society (please note that it's for the Legacy Fund)
2. Donating online through ATB Cares and have 15% of your donation matched - plus they cover our transaction fees!
3. Donating online through CanadaHelps.org (select Endowment Fund from the dropdown menu)
4. Including YABS in your estate plan with a future gift through a bequest, life insurance, or trust arrangement
5. Spreading the word by telling your friends, family, and colleagues!
If you have any questions, please feel free to contact the office at 780-422-8232 or firstname.lastname@example.org.