|
History Purpose Grants Board Contact |
You have reached the home page of Christian Horizons Foundation. CHF is an arm's length charitable foundation whose purpose is to receive and manage assets for the purpose of providing support for the operations of Christian Horizons. |
|
||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||
|
History: Donors
often prefer to make donations that endure over a period of time
rather than being expended when the charity receives them. Many
charities have a separate Corporation, such as a Foundation, that
cares for its fundraising activities. Funds accumulated in the
Foundation are not part of the assets of the operating charity.
In
the event of a liability claim is not satisfied from the assets of
the operating charity.
Christian Horizons Foundation was incorporated, November 21, 1990, by Letters Patent. It is A Canada Corporation Without Share Capital and registered with the Canada Revenue Agency, Charities Directorate, as a charity with Registration Number BN 14096 4032 RR0001. Donors receive a tax credit receipt for all qualifying gifts. Purpose/Objects: From the Letters Patent, Christian Horizons Charitable Foundation’s purpose is clearly defined with opportunity to address the changes in any given era: The objects of the Corporation are:
The Foundation was sponsored by the operating charity, Christian Horizons. It operates at arm’s length from its only recipient of grants, Christian Horizons. Beginning with no funds, the Foundation has paid all its costs of incorporation and to 2005 has made grants of $151,641.00 to projects that stand approved within Christian Horizons. Further, with real estate holdings and cash on hand, it is conservatively estimated that gross assets are now in excess of $2,000,000. Grants: Are made to projects or activities from among the list of standing Board approved projects within Christian Horizons. Grants to date have usually be awarded to capital projects rather than day to day operational costs. Among the programs of Christian Horizons, the Christian Horizons Conference Centre, Paisley, Ontario, receives no Provincial funding assistance. An Endowment Fund has been established to assist persons with their camp registration fees at the Conference Centre. A basic standard means test is required for consideration for an assistance grant. Each year 8-12 people enjoy an outdoors vacation at the Conference Centre through the generosity of the Endowment Fund.. The Employee’s Endowment Fund, from donations by employees of Christian Horizons, in excess of $300,000 dollars, enabled the Foundation to acquire a commercial property in Toronto that has been leased to Christian Horizons for its Central District office and facilities to operate two shifts of day care programs per day. Several families have established Family Endowment Funds whereby their family will continue to support Christian Horizons ministries into the future. Board of Governors: In that Christian Horizons has a Board of Directors, the Foundation chose to distinguish its management as governors. The current Board of Governors are:
There are no employees. Expenses such as travel and board meeting expense are often not claimed. The financial statements reflect the minimal costs of operating the Foundation. Auditor: The auditors are appointed by motion at the Annual Meeting of Members. Currently the firm of McClurkin, Ahier and Company, Waterloo, Ontario, provide a full audit report to the Board and annual meeting of members Membership: There are 21 members. Membership is welcomed and requires agreement with the objects, purposes and lifestyle standards of the Foundation. Members are approved by the Board of Governors. The General Operating By-law #1 states:
all applicants for membership must agree, in writing, with the
objects and purposes Contact:Christian Horizons Foundation
|
||||||||||||||||||||||||||
|
Website of our supported organization: Christian Horizons.
|
 |
|||||||||||||||||||||||||
|
Updated Nov 2009 |
