KELOWNA–An unprecedented announcement from the Central Okanagan Foundation Monday, one that will put more money into the hands of a number of Central Okanagan charities.
The foundation will distribute $2.25 million dollars in 2015.
The Central Okanagan Foundation has been supporting charitable organizations in the region for 37 years.
It’s distributed more than seven million dollars, but for the coming year, distributions will be the highest ever thanks in part to a 250-thousand dollar donation from the Hobson family.
The foundation is a place where donors and charities come together.
The endowment money is invested by the foundation and the income from those investments is distributed in the community.
Dozens of Central Okanagan charitable organizations from the grass roots level all the way up to more well known charities are eligible to apply for grants.
The Central Okanagan Foundation started with 16 endowment funds, totaling 80-thousand dollars, it now has more than 300 endowment funds worth 21-million dollars.
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