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Our Giving Stories
RANDY AND MARGARET CHEW FAMILY FUND
For Randy and Margaret Chew establishing a $150,000 permanent endowment fund at Durham Community Foundation, is their way of supporting a community that has been good to them.
The Region of Durham has been their home for more than 30 years. It’s also home for their business, SMS, Smillie McAdams Summerlin Ltd. The company, based in Whitby, distributes specialized products nationally for the mechanical construction industry on commercial, institutional and laboratory projects.
For Randy and Margaret, “the community has been a great place to raise a family and grow our business. We believe in education, this fund will provide scholarships and bursaries for students attending Durham College now and forever.”
Randy and Margaret’s lifelong commitment to community includes many years of volunteering with events and holding committee or executive positions with The Whitby Curling Club, The Whitby Swim Club and The Bowmanville Figure Skating Club. In addition to establishing the fund, Randy has also joined the Board of Directors at Durham Community Foundation. “I have been very fortunate in my life and if I can provide assistance to help grow the Foundation’s endowments then I am happy to do that. Clearly more needs to be done to increase the funding of charities that help residents and employees in our region. Growing the Foundation’s endowment fund is one way we can ensure a permanent pool of resources to support charities well beyond our lifetimes.”
THE POWER OF ENDOWMENT
Over the next 25 years, the Randy and Margaret Chew Family Fund established at $150,000 is estimated to generate grants of $168,000 (based on 3.5% available to grant annually) and will have an estimated market value of $246,000 (net of fees and based on an assumed 7% rate of return), even if no further donations are made to the fund. The $246,000 remains invested to earn revenue and generate grants year after year. This is how an endowment fund can turn a one-time gift into a gift that keeps on giving in perpetuity.
REG & LORNA BRAID’S SENIORS FUND
Reginald and Lorna Braid’s estate gift of more than $1,200,000 is profound. Their legacy gift will enable seniors to live independently in their homes longer and provide access to the services they need the most.
Professionally, Reginald and Lorna worked in film and media respectively. Lorna actually paved the way for other women by becoming the first female manager at CHOO Radio in Ajax. But it was their 25 acre property in Uxbridge that they enjoyed the most, especially upon retiring. Together they planted trees on more than 20 acres and while Reginald crafted in his wood shop, Lorna tended to their large vegetable garden. Their decision to establish an endowment fund at Durham Community Foundation blossomed from their own awareness of what it was like to age. Together they decided to create a permanent fund that would support other seniors. It was a thoughtful way to give back to a community that they both loved very much. As stewards of this extraordinary bequest, DCF is grateful for the opportunity to bring their vision to fruition.
THE POWER OF ENDOWMENT
Over the next 25 years, the Reg and Lorna Braid’s Seniors Fund established at $1,200,000 is estimated to generate grants of $1,207,938 (based on 3.5% available to grant annually) and will have an estimated market value of $1,655,693 net of fees and based on an assumed 7% rate of return, even if no further donations are made to the fund. The $1,655,693 remains invested to earn revenue and generate grants year after year. This is how a one-time gift grants and grows forever.