Former Sens Foundation revokes charitable status, joins OSEG Foundation
Posted Sep 29, 2021 05:21:00 PM.
The Ottawa-Gatineau Youth Foundation (OGYF), formerly the Senators Foundation, has a new agreement with the Ottawa Sports and Entertainment Group (OSEG) Foundation, which will see the OGYFs cash and in-kind assets be mobilized and invested within the community through the care of the OSEG Foundation.
As a result of this new partnership, the OGYF has filed for voluntary revocation of its charitable status.
“Given the similarities in vision, mission, values, commitment to equity, diversity and inclusion, leadership capabilities, stakeholder crossover, governance and operating structures, and most importantly the synergies that both foundations share in terms of the young people they strive to empower, a union with the OSEG Foundation just made sense,” said Ian Sherman, Chair of the OGYF volunteer Board of Directors. “This partnership will ensure that the assets the OGYF worked so hard to accumulate over more than two decades, in partnership with community, are used for years to come as donors intended.”
“The significant contribution that has been made to the OSEG Foundation will lead to increased opportunities for young people in our community to play, learn and develop through sport,” said Roger Greenberg, Chair of the OSEG Foundation volunteer Board of Directors.
Since pivoting to its new name and brand in the fall of 2020, the OGYF has donated almost $1.5-million to more than 40 different charities in eastern Ontario and western Quebec.
Since its inception in 1998, the OGYF has granted nearly $40-million to more than 300 different charities in an effort to include marginalized young people in activities they might not have experienced because of social and/or financial barriers. Throughout the last decade, the OGYF focused on making an impact in the areas of sport and recreation, youth mental health and addiction and post secondary education.
As a result of this partnership, the OSEG Foundation will have a new opportunity to connect with young people wanting to pursue post-secondary studies at Algonquin College, Carleton University, La Cité Collégiale and the University of Ottawa.
The OGYF established, in partnership with several corporate and community organizations throughout the years, 12 different bursary and/or scholarship funds at post secondary institutions. The collective endowed value of the funds is more than $2-million. Annual disbursements help to remove financial barriers for nearly 100 students.
The OGYF leaves a legacy of 16 Rink of Dreams sites located across Ottawa and Gatineau and in the Towns of Arnprior, Smiths Falls and Lac-Cayamant. Rink of Dreams sites will see newly branded permanent signage, refreshed rink boards and a fresh coat of paint on existing sports lines.
