Gift With Potential To Transform
In the spring of 2000, one of the largest charitable donations in Canadian history was made to the Hamilton Community Foundation - transforming our organization's resources and ability to respond to the charitable priorities of our community. This gift comes from Joyce Young -a private, soft-spoken, Hamilton-area woman - who made a donation of $40 million to the Foundation. More broadly, Mrs. Young's remarkable gift to the Hamilton area has inspired people throughout communities across Canada, sparking dialogue and awareness of the power of individual citizens to change their communities.
The desire to help their nephew, Bob Young, in a high tech business venture left Joyce and her husband Bill with a financial windfall that exceeded their wildest expectations. Joyce made an investment in Red Hat Inc., the company establishedby their nephew. After holding the company's stock for three years, she took out her original investment, leaving a little in "just for fun". The "fun" translated into stock worth over $40 million.
Mrs. Young's concern was to use the money responsibly to strengthen the services and supports in our community. It is significant that this generous gift, which, by virtue of its magnitude will transform the grant-making capabilities of the Foundation, results from the field of technology, which has had such a major impact on transforming our community. The Community Foundation will ensure that the Youngs' generous gift has a broad and significant impact, strengthening our community and the quality of life enjoyed by all who live here. Joyce and Bill Young also hope that their gift will inspire others who reap financial windfalls to make similar charitable donations and, equally importantly, that each of us will be inspired to "give back to our community".