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$25K endowment fund established

Partnership between Peace River Hydro Partners, North Peace Community Foundation
community foundation foto
Peace River Hydro Partners through the North Peace Community Foundation has established the Building a Better Tomorrow endowment fund. An installment of $25,000 was made by PRHP July 7. Funds, when ready, will be available equally to indigenous and non-indigenous recipients.

The North Peace Community Foundation has received a financial boost from a major Site C contractor, one that has indirectly helped the environment.

Peace River Hydro Partners presented a cheque earlier this month for $25,000 to establish a new endowment that’ll be known as the Building a Better Tomorrow fund.

“The donation is coming from the recycling efforts of our employees on site,” said PRHP communications director Jamie Bodnarchuk, the idea made possible from an initial call by the contractor.

“PRHP reached out to us and asked us how they could create a fund that they could determine the beneficiaries of,” said the foundation’s executive director Susan Adams.

“Which is exactly what community foundations are designed to do, create funds that match with their donors.

“An endowment fund is basically an investment,” Adams explained, “where we pool any of our donor’s funds, invest them, and then from the dividends, that’s what we put back into the community.”

“This creates a perpetual pool of funds that we can draw from.”

PRHP’s contribution, Bodnarchuk elaborated, is derived from the company’s community investment fund – money generated through returns of recyclable items, like bottles and cans, and other accepted materials.

“Our site services and warehouse team have been working very diligently in the six years since we started the program. We’ve taken about 1200 loads of pop cans and bottles, about two to three trucks a week, sometimes more to the recycling depot.”

“We recycle pop cans and bottles, construction scraps, like metal trimmings, metal wiring, things like that.”

Bodnarchuk notes that the company’s environmental team tracks all its recyclables.

“We’ve crossed the seven-million-pound threshold,” she added.

“These are items that are kept out of the landfill.”

As the funds become available, they’ll be divided equally between the indigenous and non-indigenous charities in the community.

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