Riverside receives $100,000 donation

News Release
Riverside Foundation

Deane Cunningham, Chairman of Riverside Foundation for Health Care announced today the establishment of a new Endowment Fund received by a long-time resident who wishes to stay anonymous.
“We received a very thoughtful and generous gift of one hundred thousand dollars from a long-time resident of Fort Frances”, explained Cunningham.
“The donor wanted to set up a memory for her and her husband that would keep on giving forever, didn’t charge an administration fee and supported a local charity. By creating an endowment fund with Riverside Foundation the gift does exactly that…..it keeps on giving to our health care in the Rainy River District and provides a lasting legacy to the donor which was a perfect fit”, he added.
Endowment funds allow the Foundation to invest the principal amount ($100,000). The income derived each year from the investment amount is used to support hospital needs. “In this case it is to be used for whatever the hospital needs in the years to come decided upon by the Board of Directors”, explains Nicke Baird, Foundation Director. “we don’t charge an administration fee and we take care of the tracking and financial maintenance on the fund so the amount you give is the amount that is forever”, add Baird.
This substantial gift shows how valuable health care is to residents of the community.
If you would like additional information on how to create an endowment fund or how to make a planned gift please contact the Foundation Office at 274-4803