Plans for the new endowment fund were presented by association president Bill Madder and consultant advisor Dale Botting to a large gathering of Battlefords-based realtors at Crandleberry s in the afternoon. Those in attendance got a full rundown of what the charitable fund will entail. One portion is an endowment fund that is intended to be used long-term. We established an endowment fund of $100,000 with the Saskatoon Community Foundation, said Madder.
The Saskatoon Community Foundation will manage the endowment fund that will generate revenues that we will be using to donate to charitable causes throughout the province, he said.
Meanwhile, an additional $30,000 is being taken from reserves so that, beginning in 2013, grants of $5,000 will be provided in each of six different regions in the province to charitable organizations. North Battleford and district is to be one of those regions.