“As a founding partner of WBCF, SEF worked with community members and organizations that saw the importance of diversifying funding in Wood Buffalo. We are committed to building a strong, resilient, sustainable and vibrant community now and for future generations,” said Paul Gardner, board chair, SEF. “WBCF, as a community builder, will play a key role in uniting, strengthening and promoting quality of life in the region.”
The $3 million includes a $1 million investment plus matching donations up to $500,000 per year for the next four years.
"We're thrilled the Suncor Energy Foundation is one of our first founding partners. This generous gift puts us well on the path to achieving our $10 million fundraising target," said Maureen Cormier Jackson, WBCF Chair. "Everyone in this region will benefit from this donation for generations to come. Unlike other charities in the region, we invest the donations we receive and provide grants to eligible community organizations using the interest earned from those investments. We call it 'investing today for a stronger tomorrow'."
The WBCF aims to provide long-term financial support for projects in the areas of social, health, environment, sport, arts, culture and other worthwhile community endeavors. A percentage of the invested income will be granted each year to qualified donees. The Foundation was formally launched in Fort McMurray on June 8, 2017. The next phase of development is to build the endowment fund so the Foundation can begin granting to support community needs.
"As we look back over the 50 years that our company has operated in this area, we're reminded of what it means to be part of building the community," said Bruno Francoeur, regional operations executive, Suncor. "Both Suncor and Wood Buffalo have come a long way, and as we've expanded operations this community has grown and prospered with us. When we face challenges we come together and support one another."