A Foundation for Canada’s Aviation Hall of Fame
In December 2016, Canada’s Aviation Hall of Fame established an Endowment Fund with the Battle River Community Foundation (BRCF) in Camrose, Alberta. Last year, The Hall received a $130,000 bequest from the estate of a donor with no specific direction for its use. At the time, there was no specific capital project to direct it to, and leaving it in a GIC produces a dismal return, doing very little to improve our future. After very careful consideration by the Board and the Operating Committee, it was decided to establish an endowment fund in the name of The Hall with this gift that would provide an annual revenue stream for the continued operation of The Hall, forever.
The Battle River Community Foundation has a very good long-term track record of fund investing that continues to benefit all of its grant recipients. One of the benefits of the operation of the BRCF is that part of their investment and reinvestment strategy is to first top-up each endowment fund equivalent to the value of inflation over the previous year, prior to distributing income to the grant recipients. Thus, our endowment fund will grow in value each year, maintaining its value in real dollar terms. Like any investment, the BRCF has good and bad years, but their average return over the last 19 years has been 6.25%
Currently, The Hall is funded by donations from Friends of The Hall, fundraising through the annual induction dinner, and a bi-annual two-day casino in Edmonton. Although these sources are currently adequate to fund the operation of The Hall, the results vary considerably year by year, and do not foster secure long-range planning. Although the casino revenue has been very consistent, one bad induction dinner result could be catastrophic for our operation. We believe that as the endowment fund grows, it will become a significant and dependable source of income to fund our operations. We hope that you will consider contributing to our endowment at any time, and keep The Hall in mind when developing your planned giving strategy.
Donations can be directed to:The Battle River Community Foundation,
P.O. Box 1122
A tax receipt will be forwarded within one week.
Donors should mark their payments “CAHF Endowment”.