Thunder Bay Community Foundation
Grant Over $321,000
by Scott A. Sumner
The Thunder Bay Community Foundation recently hosted a special evening at Badanai Motors in Thunder Bay where over 30 organizations received much needed funds for their ongoing operations. The foundation is 43 years old and was started in 1971 by a then anonymous donation of $100,000 by a woman named Pru Morton. Today their total funds are $9.1 million. “We give out about 3.5 % of our income each year so we are going to give out over $400,000. Most of themoney we receive is endowed which means we give out the income but retain the principal in perpetuity,” said Bonnie Moore, Executive Director of the Thunder Bay Community Foundation.
“ We have a board of 9 people and twice a year we give away money. In the spring it is for scholarships and bursaries and this spring we gave out $8000.00. Now in December we are giving $321,000 for charities in the community that have applied to us. Our committee reviews the applications. We had 30 organizations get finds this evening from ranging from $2500 to $25,000. We had $750,000 worth of applications alone this year so we have to raise more money!” Some of our funds are given out by the donars to charities of their choice. The rest are chosen through the committee Thunder Bay Community Foundation. You can find out more about the organization at www. TBCF.org or call 475-7279.