The Allocation Process is an integral component of the administration of the Society Legacy Fund. It is overseen by the Allocation Committee, which maintains fair policies and efficient procedures for funding applications and service requests.
The Board of Directors is responsible for all decisions regarding the allocation of funds and services. The process is reviewed annually to ensure that the administration of the fund is aligned with the priorities of the citizens of the Kamloops Region. The Legacy Fund is an enhanced community investment with sport stakeholders.
The allocation of funds and services is consistent with the purposes of the Society constitution and the guiding principles of the organization. Funds are allocated based on the previous year’s return on the investment of the Legacy Fund, the capital of which is to be maintained to perpetuity.
Purposes and Objectives
The Allocation Process is aligned with the Society constitution purposes and guiding principles. The commitment of funds and services is for the improvement of amateur sport facilities and sporting activities for the citizens of Kamloops and the surrounding area.
This is achieved through the provision of funds and services including the purchase of land, building(s) and equipment and the support of training, education and research pertaining to amateur sport. The Society is also committed to promote amateur hockey in and around the City of Kamloops.
Capital and ongoing funding is protected within the scope of decisions regarding annual funding allocations. The Society recognizes both financial and organizational support as valuable use of the Legacy Fund. Wherever possible, financial support is accompanied by efforts to build the capacity and effectiveness of amateur sport organizations. This is accomplished by strengthening organizational capacity, leadership development and volunteer support.
Organizational capacity is based on a sound governance foundation, the strength of leadership planning and appropriate succession strategies for organization membership and direction. This may be accomplished by board development training, customized training workshops and organization management.
Leadership development is key to membership sustainability as well as being directed to the coaches and officials essential for the success of the organization.
Community based volunteer support and cooperative efforts to sustain this much-needed resource are critical for the numerous events held annually in the City and Region. This can be accomplished by encouraging people to volunteer, increasing the capacity of organizations to attract new volunteers, enhancing the experience and recognizing the service.
Historically, volunteers are attracted to strong organizations and the ”new” volunteer is looking for meaningful engagements that are project-based and time specific. The challenges are limited time for planning, lack of new perspectives on Boards and financial sustainability. The goal is to inspire and build leadership in the sport volunteer sector.
Proceeds from the Legacy Fund are not intended to replace existing sources of income for sport organizations. Leverage of Society funds and matching of grants extends the capacity of the Fund.
The Society does not have charitable status as required by the Federal Income Tax Act and as such cannot provide tax receipts for contributions. As a non-profit organization (NPO) it is exempt from income tax under the ITA. Charitable status will be revisited once proposed policy changes concerning sports activities by registered or applicant charities are redefined by the Charities Directorate, Canada Revenue Agency (CRA).
Printable Version of Whole Document
Subscribe to Our Newsletter
Hear more about the society