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Community foundation to create Fort Macleod endowment fund

The Town of Fort Macleod will establish an endowment fund with the Community Foundation of Lethbridge and Southwestern Alberta.

The fund will allow people to make donations that will be pooled to be used only in Fort Macleod,

The money will only be allocated to organizations and charities in Fort Macleod and the surrounding municipal district.

People who donate to the endowment fund will receive charitable tax receipts.

The foundation charges an administration fee of one per cent.

Coun. Jim Monteith said donating to Fort Macleod through the foundation makes sense, since it is able to pool the money and generate a higher rate of return on investment.

The proposal for an endowment fund was on the agenda of council’s Jan. 13 meeting at the G.R. Davis Administration Building.

Council also learned the Community Foundation of Lethbridge and Southwestern Alberta has donated $106,710 to Fort Macleod organizations since 2016.

“That’s really impressive,” Coun. Kristie Edwards said. “That’s nice to see.”

Foundation grant recipients have included the Empress Theatre Society, Fort Macleod Handibus Society, Allied Arts, Foothills Alcohol Action Society and Kids First Family Centre.

The Town of Fort Macleod, Town of Granum and Livingstone Range School Division have also received grants from the foundation.