The City of Williams Lake and Prince George Community Foundation (PGCF) have established a $100,000 Endowment Fund to provide additional grant funding to the community.
The fund was created through an initial investment of $50,000 from the City of Williams Lake and $50,000 through a matching funding program with Northern Development Initiative Trust (NDIT), and will be held in partnership with the PGCF.
Williams Lake Mayor Walt Cobb says with the extra investment, the City of Williams Lake Foundation will be able to offer grants to community groups and organizations covering a broad spectrum of needs.
“We are pleased that we have already essentially been able to double the investment the City is making with the matching grant from NDIT,” Mayor Cobb said, “Their support for matching endowment gifts is truly remarkable and speaks to the long-term vision and commitment of NDIT to ensure the North has multiple pathways for investment.”
The PGCF currently has 18 regional partners under its umbrella. The PGCF provides administrative support, but the City of Williams Lake will retain control on how the income earned annually will be spent in the community.