Woodstock Chamber of Commerce announces new community foundation fund

The Woodstock Chamber of Commerce has partnered with the Oxford Community Foundation on a new fund that will help support both local small businesses and initiatives to “build a stronger community.”

This new fund – established through an initial endowment of $101,500 – will provide grants to Woodstock-area non-profits and charities for initiatives that support one of the fund’s “four key pillars,” chamber officials announced at their annual general meeting Tuesday.

These pillars – small business education, mental health supports, enhancement of public spaces and building a stronger Woodstock – reflect the broader mission of the chamber itself, officials added.

“Our chamber was created in 1877 to help local businesses and the community. The fund we have established will give back year after year by providing grants that strengthen both businesses and our community,” Ifhan Hudda, the chamber’s board president, said in a release.

The fund will make its first grant this fall in the amount of $1,500. The rest of the endowment – ​​$100,000 –will be invested along with other Oxford Community Foundation funds so the income can be used to provide ongoing grants.

Initiatives focused on small business education, officials said, will need to directly impact the ability of small businesses to grow while providing new skills for owners. The initiatives focused on mental health supports, including workshops, should benefit both businesses and the broader Woodstock community.

“As we saw throughout the pandemic, mental health is increasingly more and more important for all of us in our community to thrive,” Hudda said.

Chamber officials said the enhancement of Woodstock’s public spaces – the fund’s third pillar – will help reinforce community pride.

“We can see this funding being used for community gardens, green spaces and so much more,” Hudda said.

The final pillar – the building of a stronger Woodstock – will support a wide range of initiatives that bolster the community.

“Our vibrant chamber is fortunate to have excess funds today beyond our reserves and immediate capital needs,” Hudda said. “In discussion, the board felt strong that these funds should be used for ongoing and long-term community support.”

The additional money was accumulated via careful fiscal management, volunteer event support, fund recovery and the hard work of the chamber’s board and general manager, officials noted.

The Woodstock chamber itself works to build a stronger Woodstock by connecting local businesses to the community, officials said. An advocate for local business, the chamber also provides a venue for collaboration, communication and relationship building.