Since its inception in 1936 in a humble soup kitchen on Pandora Avenue, the Victoria Foundation has dedicated itself to enhancing community wellbeing by investing in people, opportunities, and solutions.
Over eight decades, the Victoria Foundation has worked hard to earn the trust of individuals, families, non-profits, and businesses alike. Many turn to the Victoria Foundation to ensure they can contribute to their beloved Victoria in perpetuity.
Donor-advised funds that span generations are one of the ways people can leave a legacy that grows over time and furthers the support of causes that matter to them. The Victoria Foundation had an opportunity to discuss this with two adult siblings who manage an anonymous family fund started by their late parents. Their parents were religious and reserved, preferring a life of quality over quantity. As such, the siblings opted for anonymity in deference to their parents.
“Our dad was a businessman who worked hard: he arrived in Canada with a used car, a typewriter, camera, and a radio. He understood that money has value in creating more money and also the opportunity to be philanthropic through hard work or wise investing. They were not showy,” the son shares. “They always used the word stewardship — the money they had amassed was to be used for something other than frivolities,” adds the sister.
“At the end of every year, our dad would write out donation cheques. It was done very quietly.” When the parents passed, the inheritance was split between the two with a substantial amount also given to the Foundation to prolong the parents’ vision for the fund and enable the siblings to make ongoing grant recommendations. The donation structure maximized the gift to the Foundation while minimizing
taxation. Now, the siblings have more than $230,000 to grant annually. This gift not only preserves and increases the value of what their father had worked so hard to earn but also continues the sharing. “We can support projects that particularly resonate.” Eventually, when both siblings have also passed, their trust fund will flow into the Foundation to further increase the philanthropic potential.
Twice a year, the two sit down to consider the causes that align with their family values and discuss how to allocate funds. They value the strength in their ability to be “a floodgate, not a trickle.” This legacy also empowers them to pitch in swiftly when there is a pressing issue. “The Victoria Foundation lets us know when there is an urgent need. It’s good to be able to respond to that.”
Through the legacy of their parents and the ongoing work of the Victoria Foundation, these siblings demonstrate the profound influence that thoughtful, focused giving can have on a community. Their story is a testament to the lasting value of quiet generosity and mindful stewardship.