OTTAWA, May 10 /CNW Telbec/ - In the midst of last year's economic downturn, Canada's 170 community foundations contributed more than $140 million to thousands of local charities, says a survey conducted by Community Foundations of Canada, the movement's membership association.
"At a time when communities and charities across Canada were reeling from the impact of the recession, community foundations and local donors pulled out all the stops to support critical needs," said Monica Patten, President and CEO of Community Foundations of Canada.
While the network of local foundations wasn't immune to the impact of the downturn, it maintained granting "at a significant level," said Patten. "Our grants decreased from the $165 million we provided in 2008, but thanks to a number of measures, and generous donors, we were able to make a major contribution to communities from coast to coast."
Community foundations received more than $194 million in 2009 to help meet short- and long-term needs in every area from social services and education to youth, environment and the arts. In addition, the movement's collective assets have rebounded, reaching $2.85 billion at the end of 2009. "At the end of 2007 our assets were at $2.9 billion, so we're going in the right direction," said Patten. "However, we all know the recovery is going to take time, patience and perseverance."
Helping communities from coast to coast
Patten credited community foundations in large and small communities with finding ways to meet local needs in a variety of ways during the downturn. For stories about community foundations' response during the downturn read our full news release at www.cfc-fcc.ca.
About Community Foundations
Canada's 170 community foundations are local charitable foundations that help Canadians invest in building strong and resilient places to live, work, and play. They are one of the largest supporters of Canadian charities.
SOURCE Community Foundations of Canada
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