Toronto Community Foundation offers ongoing endowment funds

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With over 300 endowments and trusts, more than $200 million in assets and tens of millions in charitable donations, the Toronto Community Foundation (TCF) has helped make a difference in countless lives. Considering the challenges in founding the organization, however, it's a miracle it ever got off the ground.

The TCF allows benefactors to start up their own charitable initiatives, pooling resources from a variety of donors and investing them, then using the proceeds to support causes of the donors' choice.

By keeping the initial capital intact and making donations based on earnings, the TCF has been able to create ongoing endowment funds as opposed to one-time gifts. It also takes a great deal of the paperwork associated with starting a charity - the foundation tackles the lion's share of the legal and tax forms necessary to start an ongoing fund.

The foundation was the brainchild of the late Fraser Deacon, who saw similar programs working - and working well - in the United States and Vancouver back in the 1960s. The Rosedale resident decided to start up a similar organization in Toronto, but found that his idea was not exactly embraced.

"When he first brought it to the attention of people here in the early 60s there was no interest at all, so he just let it lie," said Fraser's widow, Fran Deacon.

Still, the idea never entirely disappeared, and Fraser Deacon knew it was a business model that could work. By the 1970s, Torontonians seemed more eager to back the concept.

"My husband was born into a family of 10 children and each of them was taught that unto whom much has been given, much is expected," Fran Deacon said. "They weren't wealthy, but they enjoyed the wonderful country we live in, excellent education and fine health. Fraser had this idea to give back and he wanted to make it work."

By 1981, with support from a strong network of friends and associated, the TCF was up and running, officially earning registered charity status in September of that year. Sadly, however, Deacon's victory was soon tempered by his own failing health. He suffered from leukemia, but still did what he could to ensure that the TCF would be left in good hands, hiring CEO Marjorie Sharpe and working to spread the word.

"I feel so bad that he was never able to see it take flight, but he always said the important thing was the foundation had been laid," Fran Deacon said. "He was not a person who needed to see beyond his own vision. He knew it was running and that it would work."

By 1991, the TCF had total assets of over $5 million and bequeathed more than $1.25 million to various causes and individuals.

Sharpe, who still sits on the TCF council, said the early days were a challenge - the foundation moved around often before finally settling into a site at Yonge and Bloor streets and it was important to drum up support for an unknown quantity.

"It was a major challenge for him because he built it from nothing," she said. "To inform people of what it's all about and then get them to donate a chunk of money is quite difficult."

Still, staffers in those early days stayed the course, and their dedication has more than paid off through the thousands who have benefited from TCF grants.

"It's such a good idea," Sharpe said. "I was delighted to be involved back then and I'm still delighted now."

For more information on the Toronto Community Foundation and on starting a charitable endowment, call 416-921-2035 or visit www.tcf.ca