Wondering about our Foundation? Here are five facts you might not know about us.
1) We receive no government funding – we rely on voluntary donations from RTOERO members, and financial support from corporate partners and others who care about improving the quality of life for older adults.
2) We issue tax receipts – we issue a tax receipt for every individual donation of $20 or more. The RTOERO Foundation is a Registered Canadian charity. Our charitable registration number is #848662110RR0001.
3) We are independent and self-sustaining – The Foundation operates at arm’s length from RTOERO. While some in-kind support such as office space is provided, all salaries and costs related to the operation of the Foundation are paid from the voluntary donations of members, friends and corporate partners. Each year, we’ve increase our net revenue through targeted fundraising and stewardship, ensuring that the Foundation can continue to reduce its administrative costs and increase its granting portfolio.
4) 100% of your donation can go to granting – Individual donors to the Foundation have the option to dedicate 100% of their donation to one of our two granting streams: 1) geriatric/ gerontology research and training, or 2) social isolation initiatives.
5) We received core support in 2011 – When the Foundation was established in 2011, it had an initial goal to fund an endowed Chair in Geriatric Medicine at the University of Toronto, valued at $3 million. While fundraising activities in the first three years raised some funds, RTOERO offered, through a motion at Senate to fund the balance of the $3 million. When the funds were ready to be transferred from the Foundation to the university, we discovered that $500,000 had been made available by the university, meaning that only $2.5 million was required to fund the Chair. Between fundraising and the remaining $500,000, an investment of $750,000 was made to provide core support to the Foundation in establishing its annual granting program. This investment continues to provide contingency support for the program, ensuring that the Foundation can meet its obligations as it focuses on building capacity to dramatically increase the funds available for granting.
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