The Drop Zone
Many investors view a REIT as a flow-through vehicle; meaning that all profits generated – except for a certain percentage held back in the business as a providence factor – should flow to investors. Included in this view is the belief that CREIT should not be involved directly in charitable giving – that in a REIT this is the responsibility of the individual Unitholders.
CREIT, however, wants to support the communities in which we operate our business.
As a creative way to deal with this issue, CREIT has teamed up with Easter Seals™ Canada to create the “Drop Zone Event”.
Easter Seals is dedicated to helping children and adults with physical disabilities achieve their full individual potential and independence. Easter Seals delivers award-winning programs and services to Canadians of all ages with physical disabilities, offering them the support they need to live full and active lives.
The CREIT – Easter Seals Drop Zone Event is a simple three-step program:
- CREIT makes one high-rise office building, in selected cities across Canada, available for the Drop Zone Event, for one day in each calendar year.
- On the selected day, Easter Seals Canada invites individuals to rappel off the exterior of the office building in their city.
- Each rappeller is required to find financial sponsors for their individual rappel; all sponsorship money raised goes directly to Easter Seals Canada.
In 2008, CREIT paid approximately $50,000 to Easter Seals. In exchange, each participating CREIT office property receives high-profile exposure up to, during, and after the event. This exposure is valuable to CREIT, from both a building identity and a leasing perspective.
Since 2004, CREIT and Easter Seals Canada have raised over $3.5 million through the Drop Zone Events.
Max Beck, Chief Executive Officer of Easter Seals Canada, commented: “CREIT has developed a creative fundraising initiative that has brought increased awareness and significant new funding to help Easter Seals promote active, healthy living for Canadians with physical disabilities. We are proud to be associated with CREIT and the Drop Zone Events.”
For more information on Drop Zone events in your city please visit the Drop Zone website at www.thedropzone.ca
