Our Campaign: The Abbeyfield Canada Legacy Fund
Abbeyfield Canada derives 83 percent of its operating revenue from member affiliation fees and receives only modest funding from grants and donations. In order to adequately finance current activities and to address future needs and plans, we must increase our revenue base. We need a reliable, regular source of funding — in part because we need to be able to engage with communities proactively and be ready to respond when groups, excited about the Abbeyfield concept, approach us to establish an Abbeyfield House in their community.
For this reason, we have created The Abbeyfield Canada Legacy Fund, an endowment fund that can generate a reliable cash flow of $85,000.00 per annum for Abbeyfield Canada, thus providing a steady supplement to affiliation fees. It will be held and administered by The Ottawa Community Foundation (OCF).
Our goal is to raise a minimum of $5,000,000 over a five-year period through a national campaign. This endowment fund will allow us to help existing homes in Canada, finance future operations of Abbeyfield Canada, and relieve the uncertainty of changes in affiliation fees from our member Houses. It will allow us to grow the Abbeyfield brand in Canada so that we may bring more Abbeyfield Houses to communities who are seeking ways to improve housing options for their seniors.
Endowment Equals Investment
An endowment fund offers not-for-profit organizations, like Abbeyfield Canada, a reliable and steady income. Once an endowment fund has been established, the capital investment is never touched, but the money generated from the interest provides a reliable stream of income, helping to ensure the long-term sustainability of a charitable organization and support the important work it does in the community.
For Abbeyfield Canada, the increased revenue from an established income-producing endowment fund means that we can expand and broaden our capacity and our presence in Canada, supporting existing houses while looking ahead to plan and develop new locations. We will be able to invest in the tools we need to make this happen, such as public outreach activities and coaching and leadership initiatives that will develop strong Abbeyfield community leaders and strengthen local societies.
Establishing an endowment fund and launching a fundraising campaign in support of the $5 million goal is a departure in our approach to financing Abbeyfield Canada, but it is a wise and necessary one if we are going to continue to establish Abbeyfield societies in communities where an Abbeyfield House will fill a real need.