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LETTER: A message for our community

Editor:

These are uncertain times for us all.

With the declaration by the World Health Organization of a COVID-19 pandemic, now more than ever is the time for our community to come together. At the Prince George Community Foundation, in order to help flatten the curve, we are practicing social distancing and are currently working from home. Although we are not in the office, we want to ensure all of our donors, grantees and partners that we are committed to providing ongoing support during this difficult time. We are deeply committed to our community.

In light of these extenuating circumstances the foundation is providing $60,000 of crisis funding to lend support for COVID-19 response being taken by some of our dedicated community organizations. $25,000 will be provided to the St. Vincent de Paul – Food Bank, $25,000 to the Salvation Army- Food Bank and $10,000 to the United Way of Northern BC – for the new COVID-19 Response Fund. These dollars will provide much needed resources to help these organizations with their on the ground response efforts. If you are able, we encourage you to also support these organizations.

The Foundation is continuing to review and adjudicate the grant applications received in our last intake right away. This will ensure that we are able to provide funding as quickly as possible to the charities in our community. Mindy will be reaching out directly to all applicants in the coming days regarding your application.

If you are part of RBC Future Launch, Gender Equality Pilot Fund or the Investment Readiness Program, updates will be sent out to you all as soon as we coordinate with Community Foundations of Canada. We anticipate having more information this week and will connect with you as soon as we hear.

A message from John Cairns, CFA, Director & Senior Portfolio Manager, ScotiaWealth Management:

“As you know, the Prince George Foundation is managed very conservatively. The portfolio has an asset mix of 35 per cent in fixed income and cash and 65 per cent in high quality, dividend paying stocks, which together provides the Foundation with safety, income, and growth. The Foundation needs to have growth based on its long term (perpetual) time line. The constant review of the portfolio and the Investment Policy Statement, in conjunction with changes in interest rates and the markets, has served the Foundation well.  We have gone through many tough times in the market but have benefitted significantly over the time we have been investing. The one similarity, however, is that this crisis, like all previous bear markets, ‘will end.’  So while the short-term pain right now is intense we cannot lose sight of the facts that, ‘bull markets are …. longer and more intense, providing a significant … gain.’ As always, we continue to be proactive in managing your investments.”

While we encourage everyone to practice social distancing right now, we also encourage you to stay connected. Call a neighbour, Facetime family, text a friend. Take care of yourself and take care of those around you.

We are facing extraordinary times right now, but we are all in this together.

Alain LeFebvre

President

Prince George Community Foundation

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