Foundation
Questions - MWB Art Smith - 604-374-3257
WM Forman - 604-816-5988
Born Out Of Necessity
The buildings, temples and properties held by Freemasons in British Columbia and Yukon face unprecedented threat from rising taxes, aging structures and no adequate source of capital to fund redevelopment, relocating or improving existing sites. Further, the legal structure of Building Societies serves only to isolate temple societies, leaving them to work out these challenges alone. With a rapidly rising number of lodge halls facing dire challenges, there is an urgent need for solutions. But there is also a new opportunity for cooperation.
A building investment and benevolent fund would address several pain points simultaneously. First, by uniting stand alone properties to form a larger asset holding, the fund would be able to raise significant capital. This capital could be directed toward redeveloping properties, incorporating revenue-generating commercial and residential spaces.
Harkening back to the early days of masons contributing their own money to buy land and build temples, the fund would be open to participation of all Freemasons in BC & Y. But realising the higher cost of land, building and capital, the fund would compensate investors with an annual return, which investors could choose to receive as income, reinvest in the fund, or direct to charity.
While returns on investment would be very modest in the first decade of intensive rebuilding, future yields would cover building maintenance, and upgrades and provide a generous and growing contribution to fraternal and community charity.
The Problem
The buildings, temples and properties held by Freemasons in British Columbia and Yukon face unprecedented threat from rising taxes, aging structures and no adequate source of capital to fund redevelopment, relocating or improving existing sites. Further, the legal structure of Building Societies serves only to isolate temple societies, leaving them to work out these challenges alone. With a rapidly rising number of lodge halls facing dire challenges, there is an urgent need for solutions. But there is also a new opportunity for cooperation.
The Opportunity
A building investment and benevolent fund would address several pain points simultaneously. First, by uniting stand-alone properties to form a larger asset holding, the fund would be able to raise significant capital. This capital could be directed toward redeveloping properties, incorporating revenue-generating commercial and residential spaces.
Harkening back to the early days of masons contributing their own money to buy land and build temples, the fund would be open to participation of all Freemasons in BC & Y. But realising the higher cost of land, building and capital, the fund would compensate investors with an annual return, which investors could choose to receive as income, reinvest in the fund, or direct to charity.
While returns on investment would be very modest in the first decade of intensive rebuilding, future yields would cover building maintenance, and upgrades and provide a generous and growing contribution to fraternal and community charity.