As a child from a poor family I experienced the generosity of others especially at Christmas and as an adult my gratitude has motivated me to be generous in a variety of ways. I started by contributing to a few charities which expanded to the point where it became difficult to track and manage.
A chance conversation with another entrepreneur introduced me to the idea of a family charitable foundation. The notion appealed to me for several reasons. It would simplify my current situation; it would provide a lasting legacy in that my generosity would continue in perpetuity; it would involve my current family and future generations in philanthropy. I was directed to the Toronto Foundation by my colleague, liked what I saw and established the Russell & Sharon Schmidt Family Fund.
The current main focus of our giving is directed to Cancer research as a result of being a survivor of prostate cancer and losing an older sister to lung cancer as well as several other family members who are living with cancer. Another focus is assisting young people in underdeveloped countries. We also sponsor children and support local arts endeavours through contributions outside of the Family Foundation.
Our goal is to reach a minimum capital target of 1 million dollars for the Foundation in our lifetime. This capital is expected to at least retain its value relative to inflation and will disperse a minimum of $35,000 per year in perpetuity.
I am grateful that I have the ability to make a contribution in many ways to this wonderful world we live in and especially through the Family Foundation. A person, whether a little boy like I was, or one who will benefit from medical research, or one who needs a leg up will experience our generosity and pass it forward .
This Fund’s granting purpose is subject to change at the request of the Donor Advisor.
To enable the Donor Advisor to properly recognize donors for their contributions, Toronto Foundation will share your contact information and donation amount with the Donor Advisor unless you have checked the anonymous box on the donation form.