Donates US $500,000
Donations to the Cayman Islands National Recovery Fund got a massive boost in August, with yet another US$500,000 endowment from the Dart Foundation.
It is the entity’s second such donation in seven months, bringing its total contribution to US$1 million.
According to a release, the latest gift fulfils its promise to match business donations up to the same amount by the end of 2006. Both the National Recovery Fund and the Dart Foundation are pleased at the success of the strategy.
According to a foundation release, the matching grant was to encourage other corporations to contribute.
The Dart Foundation matched donations received from The Rotary Club of Grand Cayman, Coutts Cayman, Fidelity Bank, Barclays Bank, Western Union, PriceWaterhouseCoopers, Mast Industries, NV, Goldman Sachs (Cayman) Trust Company Ltd. and a client of Rawlinson & Hunter.
Part of the Dart Foundation’s initial donation went to building a new home for West Bay resident. The Cayman-style two bedroom cottage was built by Lalev construction and supervised by the Fund. Clancy Godoy received the keys to her home in March.
Dart Management Ltd. also supported one of the NRF’s major fundraising efforts by donating US$12,000 to the foundation’s event Night at the Races in June.
PriceWaterhouseCoopers, Baraud International, Fortis, ScotiaBank, Deutsche Bank and Admiral Administration also sponsored the evening. On that occasion the foundation matched the contributions of fellow sponsors, enabling the NRF raise $150,000 at the event.
NRF’s vice-chairman, Conor O’Dea, whose own company, Butterfield Bank, has given significant support to the Fund, including a donation of $1 million at start up, praised the Dart Foundation’s civic mindedness.
He stressed however, that the recovery effort is ongoing. ‘Despite the fact that hurricane Ivan happened two years ago, we continue to see so many needy cases that require our help. This tells us that the re-building effort is a crucial continuing effort and we encourage everyone in the community to recognise this through ongoing support of the Fund.
‘Since its inception, the fund has restored over 450 homes and assisted a further 400 families whose homes were destroyed with furnishings and goods with the $10-plus million donated. It has another 175 families yet to complete with a further need to raise some $5.5 million.’
Spokesman for the Dart Foundation and NRF trustee, Christina McLaughlin thanked the many companies who had supported the fund, making the additional donation a reality.
‘I urge everyone to continue to support the work of the Fund. Not only must we focus on post-Ivan recovery, but we must not rest until we have ensured a reasonable standard of accommodations for as many persons as possible,’ she stated.
The fund’s executive director, Dr. Mark Laskin, noted the apt timing of the additional funding. ‘There are some 25 additional new homes that we have approved for rebuilding and this enables us to get going.’
The NRF’s fundraising efforts are now focused on encouraging individuals and companies to ‘adopt a home’. The initiative calls for contributors to give funds for the repair of a specific home or donating building materials, furnishings and labour.
One such donor is KPMG, which has agreed to adopt a home, with a contribution of $75,000 for extensive repairs to the home of George Town resident, Dulcie Anderson.