Community fund to support education, healthcare and recreation
The Township of North Huron has announced the Leland and Thora Vance Fund.
The couple owned Vance’s Pharmacy for over 40 years in Wingham and they created an endowment fund.
The $7 million is invested and each year the income on the fund will be distributed to support residents and provide support to organizations and community groups in the areas of education, healthcare, recreation and Christian churches.
A committee has been formed to make the decisions on how to distribute the money.
The committee includes Wingham BIA Chair Dave Tiffin, North Huron Reeve Bernie Bailey, Lion’s Club President Richard Hall and President and CEO of the Kitchener Waterloo Community Foundation Elizabeth Heald.
“The Vances set up a trust, when they were alive, in the amount of seven million dollars, that is set up in perpetuity, which means that the income this trust earns can be divided up every year among four different areas that the Vances have selected,” said Tiffin.
While more details are being worked out, the Township of North Huron has issued a release thanking the Vance’s for their positive impact on the community.