BY COLLEEN DOUCETTE
Introducing
KIDS OF STEEL
BY COLLEEN DOUCETTE
fter three years , we are so excited to announce our new endowment fund program — Kids of Steel ! This program is designed to raise money to donate to school nutrition programs across Canada ; more specifically , the provinces where the donations come from and where our members are located .
I had the idea of a program such as this in 2019 and began developing the concept of it . This is not an easy task because I wanted to do it right . I wanted to make sure that it captured what I wanted it to do and how it worked . After creating the initial design of the adorable Kid of Steel , I kept it front and center for over a year to keep me inspired to bring him to life .
The first part was answering the question , how do endowment funds work ? In a nutshell , you never want to touch those funds and allow that investment to grow with excellent interest rates , and that interest is what is the contribution to the various nutrition programs . If contributions are made throughout the year , those contributions are added to that fund and thus the fund has the capacity to have higher interest-generating potential . That is where the funds come from . Perfect !
“ Endowed funds are permanent , creating a pool of charitable dollars that can always address the causes you care about .”
Next was the idea of doing a proposal for the Board of Managers . This was an important part of the development of this endowment fund because I needed the funds approved to move into a secure bank-managed fund . The proposal included the reason I wanted to do this and how I envisioned the program would operate . From the moment it was brought forward , the entire Board was in support . I then needed to create the marketing materials to coincide not only with the public-facing side of the program but also our member side so they could truly understand where their money is going and how it is being managed . Remember , as a shareholderowned company , Steel Plus Network recognizes the importance of complete transparency with shareholder money . Thus , the need to ensure a thorough explanation of the program was within reach of any member at any time .
“ A well-managed endowment sends a message of planned long-term stability , fiscal responsibility , and financial viability . It enhances the organization ’ s prestige and credibility .” – Benefactor Group
The Breakfast Club of Canada ( BCC ) is an organization that places the needs and interests of children above all else . It
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