Yellowknife Community Foundation

About Yellowknife Community Foundation:

Founded in 1993, the Yellowknife Community Foundation’s mission is to enhance the quality of life of the citizens of Yellowknife and the surrounding area by: identifying and addressing current and anticipated community needs; and, raising, managing, and distributing investment income from donated funds to meet those needs. The Foundation is not singularly dedicated to any specific area of support.

In F2011, the Foundation granted fourteen $1,000 scholarships and $68k in grants to charities in a variety of sectors, including: sports and physical activities (25% of grant funding), children and youth (23%), community services (22%), seniors (12%), search and rescue (12%), arts and culture (3%), and health and safety (3%).

Notice to Donors: Charity Intelligence initially reported on community foundations given the large size of donations these foundations receive. In subsequent research and discussions with community foundations, their operating model does not fit with Charity Intelligence's analysis. Community foundations have significantly different cost structures, invested funds, and results that are not comparable with other charities. Donors looking to establish funds within community foundations should assess: 1. prior investment return track records, 2. restrictions on how much is paid out of funds each year to charities (the payout ratio maximum and minimum), 3. the quality of research provided in helping donors grant to charities, and 4. annual fees. Community foundations can provide services making giving easy, as do other financial service providers. Donors should talk with their financial advisor.

Charity Intelligence can update this report on Yellowknife Community Foundation, if there is sufficient donor interest.

Financial Review:

Fundraising costs are 56% of donations and administrative costs are 41% of revenue less investment income. The Foundation has $3.2m in funding reserves (including $854k in donor-endowed funds), which cover annual program costs 38.5 times. The Foundation reported one part-time employee in F2011. Other costs reported below consist of administration fees for its investments. The Foundation does not disclose its return on investment or whether it charges a fee on its endowments.