The Carman Area Foundation celebrated 20 years of operation on the weekend.

Barry Gosnell, Chair of the Carman Area Foundation

The philanthropic organization held its annual fundraising event at the Carman Community Hall to mark the occasion.

There's no better way to celebrate two decades of good work in the community than to hand out more money to worthy local projects, according to Chair Barry Gosnell. He pointed out that the Foundation's growth over the past 20 years has helped broaden the base of organizations it can support.

"We granted close to $80,000 this year to approximately 33 different organizations and that has grown every year. So, we're just so happy to do that because there are a lot of organizations that need some help from time to time."

The Foundation has enjoyed rapid growth over the past 20 years with an endowment fund that has reached the $2 million mark. In fact, over the past five years that fund has grown by $800,000.

"Once you get to a certain size, things start to multiply and grow faster. For us to reach $2 million, and now we're beyond that, we are really looking forward to continued growth into the future. It's a very nice milestone along with the 20 years," said Gosnell.

Matt Durand and Gabrielle MacLellan of the Carman Collegiate Youth in Philanthropy group.He pointed out their endowment fund continues to grow at a steady rate thanks to generous donors that contribute on a regular basis.

"There's a lot of organizations right now that are doing fund raising for different projects...but they (donors) haven't forgotten about us," said Gosnell.

He added the Foundation's total assets also surpassed $2 million dollars, thanks in large part to investments.

In 2014 the Carman and Area Foundation signed an agreement that would allow the Winnipeg Foundation to handle the organization's investment portfolio.

"That has been a very good decision for us because that's where quite a bit of our growth is coming from as well."

Meantime, members of the Carman Collegiate Youth in Philanthropy group - a branch of the Carman Area Foundation - handed out $4,500 in annual grants at Friday's banquet.

"A very good relationship," said Gosnell. "If you can get talking to high school teachers and high school children, it's nothing but a win-win situation."

 

The Carman Area Foundation doled out over $80,000 in grants Friday evening