Robin Robertson, Board Chair of Community Foundation (left) and John Pankiw (right) establish an endowment fund, seeded by Pankiw’s $4 million donation.
Image Credit: SUBMITTED/Community Foundation of the South Okanagan Similkameen
January 09, 2024 - 5:07 PM
A South Okanagan charity has received the largest donation in it's history.
John Pankiw has given $4 million to the Community Foundation of the South Okanagan Similkameen making his donation the largest the foundation has ever received, according to a Jan. 9 news release.
The donation will be used to create an Endowment Fund in which the donation is invested and parts of the earnings will be given as annual grants to support local charities. The original donation remaining untouched will be invested, creating a lasting resource for the community.
"I consider it a privilege to be able to create a family legacy that will benefit our community in perpetuity," Pankiw said in the release.
Pankiw has been a longstanding philanthropist to the community, previously contributing to organizations such as the SOS Medical Foundation and Okanagan College.
"Words truly can't capture the magnitude of Mr. Pankiw's gift to our community,” Robin Robertson with the community foundation said in the release. “Mr. Pankiw was integral to the creation of the Foundation over 30 years ago and today he continues to make a profound impact on both the Foundation and our community.”
When the community foundation was first established as the Penticton & District Foundation in the early 1990s, Pankiw had been one of the original founding donors. At the time, six local charities were given grants from the foundation totalling about $2,000. Today, including Pankiw's donation, the foundation manages assets totalling $20 million and has distributed more than $9 million in grants throughout its history.
"Mr. Pankiw’s gift will have a positive impact for generations to come. We are truly honoured and humbled by his longstanding support, the trust he has placed in our foundation, and for the deep care he has for our community,” Robertson said.
The Community Foundation of the South Okanagan Similkameen is an organization that offers ways for individuals and organizations to donate to their community as well as funding project, programs and events to foster well-being in the community. To find out more, visit the foundation's website here.
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