The Duke of Edinburgh’s International Award – Ontario Endowment Fund, also known as The Hermant Legacy Fund, was created to honor our long-standing Executive Director, Jill Hermant. She started working for the Award in 1993 and inspired countless young people over the years. Jill retired in 2015 after 23 years of outstanding leadership and dedication.   

As a tribute to her impact in Ontario, we have established a permanent Endowment Fund. The proceeds from this Fund will be dedicated to maintaining and growing our program and ensuring that it remains accessible to all youth regardless of any socio-economic barriers.  Due to her remarkable commitment and leadership, our organization experienced incredible growth during her 23 years working for the Award.

Jill's character and ability have contributed to more than 80,000 youth being positively impacted by The Duke of Edinburgh's Award.  

The Fund is managed by the Toronto Foundation and the income from this fund will be used to support our program across the province. 

What is an Endowment Fund?
An Endowment is a fund that is restricted. The goal is that only the income from the investments of the fund be spent, not the principal that anchors the endowment.

Usually, only a portion of the income from the Endowment is spent on an annual basis to assure that the original funds will grow over time. Professional money managers often oversee Endowment Funds, investing the money in stocks, bonds, and other instruments.

What are the benefits of an Endowment Fund?

There are many advantages of an Endowment Fund.  Here is a list of some of them:

  • Creates an ongoing source of income - A permanent endowment is an invested pool of money that provides a reliable source of income in perpetuity that the organization can count on for annual distributions for its charitable work.
  • Enhances stability and prestige - A well-managed endowment fund sends a message of planned long-term stability, fiscal responsibility, and financial viability. It enhances the organization’s prestige and credibility.
  • Allows program expansion - Program expansion can be funded with distributions from the endowment fund. 
  • Provides independence – Endowment funds provide a measure of independence from economic, governmental, and political forces.
  • A significant investment in the future - An endowment gift will be invested permanently. It will serve as a permanent tribute to the donor and extend the donor’s values for future generations. It offers the donor a sense of immortality.

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