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.