A community foundation is a collection of charitable gifts. Large and
small, they are pooled and then invested. The investment income is distributed
as grants to local charitable organizations. The capital is never touched
and continues to grow with each new gift, generating income that meets
a wide range of community needs for years to come.
Community foundations are registered with the Canada Revenue Agency
as
tax-exempt public foundations, thereby necessitating public accountability
for the funds they manage and a tax-free status for gifts received.
The Central Okanagan Foundation (COF) was established in 1977. A Board
of respected and dedicated community volunteers governs the COF.
Public Foundation BIN #11884 3481 RR0001
