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Their History
With its roots in the early 1940’s, Vancouver Foundation is one of the oldest community foundations in North America. The history of the Foundation has all the elements of a good legend. There is an unlikely hero – a little known woman by the name of Alice G. MacKay who had saved $1,000 from her secretarial job and whose wish was to do something special for Vancouver – particularly for homeless women trapped in a cycle of poverty. There is a benevolent power – in the person of industrialist/philanthropist W.J. VanDusen who makes her wish come true. And there is an element of magic – in the transformation of $1,000 into $674 million.
A man of great vision, Mr. VanDusen had understood the potential of building a permanent endowment that could benefit many charitable activities. As Director of the Vancouver Welfare Federation (now the United Way of the Lower Mainland) and Chair of its Endowment Committee, he had studied (mostly American) models of community foundations for several years. And by 1943, he had overseen the establishment and incorporation of Vancouver Foundation. However, at the time of Alice MacKay’s death in 1944, Vancouver Foundation was nothing more than a legal entity with virtually no capital and was therefore a community foundation in name only.
Presumably inspired by Alice MacKay’s bequest, Mr. VanDusen encouraged nine friends to match his gift of $10,000 and the rest is history. The nine other founding families were:
Gordon Farrell & family
F. Ronald Graham
George Kidd
H. R. MacMillan
W. H. Malkin
C. T. McHattie
Chris Spencer
A. H. Williamson
W. C. Woodward
Vancouver Foundation was formally established by an Act of the Provincial Legislature - the Vancouver Foundation Act - in 1950. From its original capital of $101,000, it has grown to become the largest community fund in Canada and the fifth largest in North America. In 2006, Vancouver Foundation is the custodian of over 950 funds which make up its Consolidated Trust Fund with a market value of $674 million. Each year, we distribute approximately $35 million, representing a portion of the income generated from these investments to organizations and groups which support the Foundation’s mandate.
Today, Vancouver Foundation seeks to achieve three principal goals:
1. Promote the growth of income from contributed funds to achieve donors’ charitable objectives.
2. Encourage and support those charitable organizations best able to carry out activities congruent wit the purposes for which the Foundation was established.
3. Provide philanthropic leadership and support endeavours which improve the quality of life in the community.
For more information on the Vancouver Foundation visit their website at www.vancouverfoundation.bc.ca
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