Overview of the CFUW K-W Charitable Fund
Introduction
Forty-one years ago, in an effort to provide scholarships, awards, and bursaries for young women in the Waterloo Region, our club established a separate organization: the CFUW K-W Charitable Fund. This organization was created as a registered charity to support the educational aspirations of local young women.
Governance Structure
The CFUW K-W Charitable Fund is overseen by a board of five trustees. Two of these trustees, known as the Managing Trustees, are appointed for six-year terms and are responsible for managing the day-to-day operations of the fund. The remaining three trustees serve on the board due to their positions within the club—specifically, the club President, Treasurer, and Awards Chair, all serving in an ex officio capacity. Together, all five trustees establish the guidelines for the Charitable Fund. The Managing Trustees execute the fund’s operations according to these guidelines and in compliance with Canada Revenue Agency regulations.
When a Managing Trustee’s term is nearing its end, the incumbent Managing Trustees initiate the recruitment process for a successor. It is handled by the Managing Trustees outside of the club’s nominating committee work, as their deep understanding of the role’s requirements and the importance of a strong working relationship between the two Managing Trustees is crucial in selecting the right candidate. Once a candidate is identified, the appointment is presented to the CFUW KW Board of Directors for official approval. The club membership is informed of the appointment but does not vote on it.
History and Growth of the Fund
The Charitable Fund began in 1985, launching with three awards—the Grasett, Philp, and Dunham awards—and initial donations totaling $250 from Zehrmart, Prudential Assurance, and Budd Canada.
Since its inception, the fund has grown significantly. Currently, it administers 16 distinct awards, benefiting approximately 60 students each year. For this year, $83,100 has been allocated for awards at 15 local high schools, the St. Louis Adult Learning Centre, the Junior Symphony, Conestoga College, Wilfrid Laurier University, and the University of Waterloo. The selection of award recipients at these institutions is guided by specific criteria established for each award.
Financial Overview
The CFUW K-W Charitable Fund currently manages over $2 million in invested assets. The majority of these funds are endowed, ensuring that the awards can be distributed annually in perpetuity. About 60% of the fund’s assets have been donated by families, with the remaining 40% contributed by the club.
Award Structure
Of the 16 awards administered by the Charitable Fund, 8 are directly sponsored by the club. These club-sponsored awards were initiated by the club and are primarily funded through member donations and proceeds from the used book sale.
The other 8 awards were established and funded by families, with the Charitable Fund responsible for their management. More information about the history and background of each award is available on the club’s website.
Future Development
The Charitable Fund remains committed to growth. New awards will be added in the future as the club, individuals or families choose to endow scholarships, awards, or bursaries. Additionally, funds raised by the club will be allocated to support club awards that are not endowed—such as the Conestoga College bursaries and the 100th anniversary WoW and PSM awards—or to enhance existing awards to maintain their significance. These resources may also be directed toward the creation of new awards that align with the club’s focus and the Charitable Fund’s purpose.
If you have any questions about the Charitable Fund, please contact the Managing Trustees at cfuwkwcharfund@gmail.com for more information.
July 2026
