COMMUNITY FOUNDATION RECEIVES MILLION DOLLAR BEQUEST GIFT
“Grieve not that he is no more, but live in gratitude that he was.”
For Immediate Release
June 22, 2017
The Community Foundation for Kingston & Area (CKFA) recently received a $1.1 million bequest – one of the largest gifts in the Foundation’s history. The gift came from the estate of Norma Geraldine Palmer and her husband Aaron Palmer who predeceased her in 2010.
“We are so honoured to receive this extraordinary bequest from the Palmer estate, which because of how they chose to direct it is a true legacy gift that will benefit our entire community forever”, says CKFA’s Executive Director, Tina Bailey.
Most of the gift will be used to create the Aaron and Norma Palmer Endowment Fund which will support the Foundation’s competitive Community Grants program “so all local charities have the potential to benefit from the Palmer’s generous gift for years and years to come” explains Bailey.
Through this program, twice each year CFKA invites all charities in the City of Kingston and all of Frontenac and Loyalist Townships to apply for grants. Grants are reviewed by volunteers on their grants committee. It supports projects in areas that will enhance our local communities.
In addition, $100,000 will be used to establish an endowment fund with the Foundation to provide a permanent source of support for Hospice Kingston’s new Palliative Care Centre & Residential Hospice.
“I worked with the Palmers for years and years and know that it was important for them to leave a portion of their accumulated investment portfolio to the Community Foundation for the benefit of the wider community” says Walter Fenlon, co-executor of Palmer’s estate.
Another lifetime friend of the Palmers shared an old Hebrew proverb said to ‘typifies Aaron perfectly’: “Grieve not that he is no more, but live in gratitude that he was”. The Palmers gave quietly and anonymously during their lifetimes. This significant bequest will create a permanent legacy of their generosity that many will benefit from and be thankful for.
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Community Foundation for Kingston & Area
The Community Foundation for Kingston & Area is an independent, local charitable organization, founded in 1995. We strengthen our community by connecting charitable giving to community needs. The Foundation encourages individuals and organizations to establish and help grow permanent endowments, which allows us to invest in our community in perpetuity.
Funds are invested and income earned is used to provide charitable grants. The Foundation manages over $17 million in assets and has granted over $10 million to charities since its establishment. It runs a twice annual Community Grants program through which all local charities are invited to apply for project grants.
For more information visit www.cfka.org or visit us on Facebook or Twitter @CFKingstonArea