I hope you won't need to do that, but we'll see.
It's a pleasure to be back here and to see some familiar faces, and to engage, I hope, with some people I haven't met yet.
I'm here today on behalf of community foundations across the country. They have asked me to present an idea or a recommendation that we think plays to the strengths of governments and to the strengths of communities, of community foundations, and of not-for-profits.
Let me start by reminding you very quickly about community foundations. There are over 150 of us across the country. We reach about 89% of the Canadian population. We exist in numerous very small communities and of course in our largest urban areas. I dare say that every one of you has a community foundation in your neighbourhood.
We have three roles. First, we build permanent endowed funds for our communities. We also gather those funds from many donors, individuals, and businesses, and we invest those funds very wisely and turn the investment earnings back into the community in the form of grants, for a very wide range of priorities identified by those communities. The third thing we do is provide community leadership along with many others, working in partnership with other organizations, and with governments, as a matter of fact.
Collectively, we hold more than $2.3 billion under investments across the country. I expect it will be $2.6 billion by the end of this year. We return to our communities over $120 million through grants every year. Our huge financial success has been in large part--not only, but in part--because of the government's generous capital gains tax measures first introduced in 1997. I think you are all very well aware of the story that ended very happily and with great appreciation by our organization, and of course by many in the sector.
Community foundations are local, we're flexible, we're efficient, and we know our communities deeply and broadly. We're able to make very effective grants based on what the community thinks is important. Our ability to do that is actually second to none. Community foundations have repeatedly demonstrated their ability to work in partnerships. Their funds are permanent; they are there forever for the benefit of the community.
Let me go right to working in partnership. A platform commitment of Canada's new government really caught our eye because of our significant experience in the area of funding programs for children and youth. In fact, community foundations give over $8 million every year to programs for children and youth. Keeping in mind that over a third of Canada's population fits in this age group of children and youth, and that this is the population that Canada will count on for our future workforce, for our leadership, for our reputation, we think the recommendation we bring to you is very important.
We know that fewer than half of Canada's children and youth meet the minimum physical activity requirements for healthy growth and development. The commitment to spend 1% of federal health funding on fitness and well-being goes some way to address that issue and that need. We laud that, and we know that there are actions already under way. But we come with a different proposal.
We come with a proposal to leverage this commitment through bringing private donors in local communities to direct their charitable dollars to this issue. The proposal we put before you has been tested with members of the new Government of Canada, with those members in other parties, and with others working in the sector and organizations serving children and youth. It has been universally well received and encouraged.
In its very simplest form, it is this: an opportunity for community foundations to raise money for permanent funds that will then be matched by funds from the Government of Canada as part of the commitment to improve the fitness and well-being of youth and children. The investment earnings will be turned over to grants to registered charities working on fitness and health and on sport and recreation, especially for those families for whom it is difficult because they're newcomers or are poor, or for a variety of reasons.
If the Government of Canada puts $100 million on the table, we will match that penny for penny. Our communities will then have over $200 million in new dollars. Our local organizations will be able then to put $15 million to $20 million a year into grants right across this country. The grants will be efficient. They will be close to the ground so that we will be able to be accountable and monitor those grants.
To get the program rolling and to demonstrate that this is a win-win for everyone, we ask that an amount of $15 million be made available for immediate granting. It would not be endowed; the other funds would be endowed.
This partnership between the Government of Canada and community foundations will help prepare Canada's children and youth for the future. Investing in our children and youth is the wisest investment we can make. Community foundations offer an effective, accountable, locally led, efficient, and very simple way to move that investment forward.
Thank you.