The Glover family, Steven and Patty, who reside in Canmore, Alberta, and their son, Russill, who resides in Burnaby, BC with his fiancee Shara, set up this fund in 2021, through a gift of securities, to provide annual grants to organizations and initiatives that support social service groups in Trent Hills. Steven said “Our family believes in the long-term benefits of endowments to provide support to charitable causes”. Steven worries that “many factors are creating challenges for some families currently and these challenges will escalate as the economy, the environment, the job market and the cost of living are impacted by a variety of global issues”.
This is not their first contribution to a philanthropic family legacy. They have previosly established Glover Family Funds in each community that has been significant in their lives, the Edmonton Community Foundation and the Banff/Canmore Community Foundation. Steven has served on the Board of Directors and as Chair of the Audit and Finance/ Investment Committees for both of these community foundations.
Steve was born in Campbellford and grew up on the family farm near Warkworth. The Glover ancestors - his father Alec, grandfather Clarence, great-grandfather Walter (pictured) and great-great-grandfather David - have lived in Northumberland County since the 1850’s. HIs brothers David and Robert are 5th generation farmers in the County. The tradition continues as his niece Laura and nephew James partner with David as owner/operators of a large organic dairy operation. Steve’s other siblings, Nancy, Sara Jane and Scott also live in the County, Sadly his sister Janet passed away in 2020. Steve’s mother Joyce (nee Masterson) spent most of her early life in Campbellford living above the family’s general/grocery store on Bridge Street. Her parents, Bill and Thelma operated the Masterson store from 1942 until 1959. Patty too comes from a rural background, having grown up on the family farm west of Grande Prairie, Alberta. The Russill family, her father, uncles and grandfather originally from Bracebridge, Ontario, homesteaded in the Peace country in the 1920’s.
These multi-generational rural and small town roots underlie the Glover family commitment to community, neighbors looking after neighbors. Steve’s memories of the party line telephone of the 1950’s and 60’s symbolizes the importance of neighbors and that community spirit. He notes the irony that the world wide shortage of semi-conductor chips in 2021 drove a large increase in one of their investment holdings. This provided a tax efficient avenue to contribute to all three Family Funds in 2021. “Who would have imagined there could be a link between a 1950’s party line and the 2021 shortage of chips’ chuckles Steve. “I encourage everyone who can, to include charity as a component of year end tax planning - donating your winners should be considered along with the traditional focus on selling your losers”. Both Steve and Patty are Chartered Accountants so this emphasis on planning and tax efficiency is not surprising.
As noted, the Fund was set up with a gift of securities, which is one of the most tax effective ways to give because they are exempt from capital gains tax. The Glovers received a charitable donation receipt for the fair market value of the securities. The family was able to choose a community cause to support, one that had real meaning for their family. This gift, which connects family generations, will have an impact that lasts beyond their lifetime and will contribute to making our community a better place.
The Community Foundation accepts donations and bequests to this fund from those interested in supporting social service organizations in our community.