The Ottawa Citizen
June 5, 2003
By Adam Grachnik
The Community Foundation of Ottawa expects its assets to double in the next 15 years - thanks in large part to the growing number of people who are leaving money to charity in their wills.
In a meeting with the Citizen's editorial board this week, Barbara Mclnnes said Canada is poised to see "the biggest financial turnover in history" as an aging population - one that has accumulated considerable wealth - slowly dies off.
Many of those people are leaving part of their assets to charity through "realized bequests."
The foundation currently manages $66 million in assets in trust for 500 different endowment funds. It awards roughly 250 grants per year in response to applications, while also handling many specific requests from donors.
Since 1987, the foundation has awarded $18.7 million for a wide range of community projects, such as History Through the Object, an art project created by Hillel Academy's Grade 7 class that tells the story of people affected by the Holocaust. It received $2,500.
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