$500,000 legacy fund established

A new Penny Lane Community Fund, with an initial commitment of $500,000, has been created.

  • Oct. 30, 2013 6:00 p.m.

The Summerland Charity Shops Society members present a $500

A new Penny Lane Community Fund, with an initial commitment of $500,000, has been created by the Community Foundation of the South Okanagan and the Summerland Charity Shops Society.

Over the past 11 years, the Summerland Charity Shops Society, operating the Penny Lane Bargain Outlet in Summerland, contributed more than $2 million to youth organizations in Summerland and the rest of the region.

Penny Lane began in 2002 with the commitment of the six founders, the late Art Sewell, Ellen Lloyd, Orv Robson, Bruce Hallquist, Allan Fabbi, and Scott Boswell.

In the beginning the hope and vision of the board, and in particular Art Sewell, was that Penny Lane would be able to assist the youth of Summerland and South Okanagan for 10 to 15 years with the end goal being to create a lasting legacy fund.

The current directors, including Rick Thorpe who replaced Sewell, remain passionate about giving back to the community and are committed to continuing support of youth related programs.

“Circumstances beyond our control forced the closure of the Penny Lane store,” said Orv Robson, chair of the Summerland Charity Shops Society.

“With the creation of the Penny Lane Community Legacy Fund, we will be able to continue to support the youth in Summerland and the South Okanagan.”

With an initial gift to the Community Foundation of $500,000, the new Penny Lane Community Legacy Fund is a significant step for both the Community Foundation and the youth programs which will be supported with this Fund.

“The Community Foundation is honoured to have earned the confidence of the Summerland Charity Shops Society,”said Susan Kelly, president of the Community Foundation of the South Okanagan Similkameen.

“They have had incredible success over the years and have made amazing contributions to the community. The Community Foundation is absolutely committed to fulfilling Penny Lane‘s mandate and vision for this Fund and we look forward to perpetuating the impact of the Penny Lane Community Legacy Fund for the benefit of our youth.”

 

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