Background
The Prosperity Long-Term Care Fund (known also as The Prosperity Fund) is the brainchild of Adam C. Nihmey, a local Ottawa businessman. Witnessing in 2003 both grandmothers requiring long-term care, he became exposed to the struggles that seniors face as their health deteriorates and they begin to rely on essential care, such as publicly funded services. He witnessed the toll placed on family members to care for their loved ones, and the financial and emotional sacrifices that often need to be made. He explored the strengths and deficiencies of our community’s not-for-profit long-term care homes.
Adam educated himself on the needs of seniors, the services available to them and their families, and the challenges faced by health care providers to meet the increasing demand for support. He consulted with healthcare providers, politicians, government officials, and family caregivers—learning that long-term sustainability was critical due to the growing population of seniors, greater longevity among them, and continued cuts in government funding.
After consulting with tax and legal professionals, to ensure the charity’s structure would maximize community value while minimizing administration costs, Adam was introduced to The Community Foundation of Ottawa. The Community Foundation is a public not-for-profit organization that allows community members to create their own funds to support causes that matter to them. By creating The Prosperity Fund according to this structure, administrative costs would be kept to a minimum and all donations could be permanently endowed.
In May 2008, The Prosperity Fund was launched. Since then, more than a quarter million dollars have been raised and the Fund is well positioned within Ottawa’s senior care community.
