Myfanwy Griffiths Fund for the Poor and Homeless

Introduction

The Myfanwy Griffiths Fund for the Poor and Homeless was built to last. It was not created as a general operating fund, a building fund, or a fund for church repairs. It was created so that invested capital could produce income for urgent assistance to people in need, including the homeless, the hungry, and the destitute.

The will places a strong boundary around the fund: no part of the income or capital is to be used for erecting, maintaining, operating, or repairing diocesan buildings, including the Cathedral or the organ. That restriction matters. It means a donation to the fund is aimed at relief for needy persons, not bricks, boilers, administration, or music infrastructure.

The later court order allowed the income from the fund to be used for programs that provide food to needy persons. The practical life of that cy-pres direction deserves ongoing attention. Donors should take an interest in the life of the fund, in how its income is used, and in whether its purpose continues to be honoured over time.

A lasting fund asks for a particular kind of generosity. A gift can help now through income spent for food and assistance, but it can also be stewarded for the future. When capital is preserved, and when some income is allowed to grow the fund, a small gift can keep working long after the donor is gone.

Donate To The Fund

What One Dollar Can Do At 5% Per Year

These figures assume a $1 donation invested at a 5% annual return. If all income is spent, the yearly income remains 5 cents. If half the income is reinvested each year, the capital grows at 2.5% per year and the yearly spendable income also grows.

Formula used: spending all income gives $1 x 5% = $0.05 per year. Reinvesting half gives principal of $1 x 1.025^years, with spendable yearly income of 2.5% of that amount.

This is not financial advice. Please do your own math, or have an adult you trust do the math for you.

If you wish to donate, please mail your cheque to:

Myfanwy Griffiths Fund for the Poor and Homeless
Christ Church Parish, Vancouver, B.C.
690 Burrard Street
Vancouver, BC
V6C 2L1 Canada

Please mark your cheque's memo field "for the Griffiths Fund".

Petition: The Will Clause Creating The Trust

Quoted from Part 2, Factual Basis, paragraph 3 of the Petition to the Court.

(D) To divide the remainder of my estate into TWENTY (20) equal parts and to pay transfer and deliver the said parts to the named beneficiaries, [...]

(2) To THE PARISH OF CHRIST CHURCH CATHEDRAL, Vancouver, British Columbia, a parish church of the Anglican Church of Canada in the Diocese of New Westminster, TWO (2) PARTS, to be held on trust and invested by CHRIST CHURCH CATHEDRAL and the income to be used to provide urgent financial assistance to needy persons (including the homeless, the hungry and the destitute). Any income not used in any year or from year to year may be set aside and used in future years, or added to the capital to become a part thereof, as the trustees may see fit. No part of the income or capital of the Fund shall be used for the purposes of erecting, maintaining, operating or repairing diocese buildings, including the Cathedral or the organ. I request that the principle sum resulting from this bequest shall be known as the MYFANWY GRIFFITHS FUND FOR THE POOR AND HOMELESS.

Order Made After Application: Cy-pres Comme Possible Order

Quoted from the order entered March 3, 2014, after the February 28, 2014 hearing before the Honourable Mr. Justice McEwan.

THIS COURT ORDERS that:

1. The gift at paragraph 3(D)(2) of the will of the late Myfanwy Griffiths (the "Deceased") dated July 13^th, 2000 (the "Will"), in which the Deceased gave two (2) out of a total of twenty (20) shares in the residue of her estate to a fund (the "Fund") for "urgent financial assistance" to needy persons, has become impossible or impractical to carry out such that the Court may implement a scheme cy-pres.

2. The income from the Fund may be used by Christ Church Parish (Vancouver) to pay for programs that provide food to needy persons.

The Three Documents