The Yellowknife Community Foundation officially launched the Northern Legacy Fundraising Campaign. Its goal is to raise $3 million by 2028.

The campaign officially launched on Tuesday at the Yellowknife Visitors Centre, with Korry Garvey, executive director of the Yellowknife Community Foundation, and Laurie Gault, Yellowknife Community Foundation chair, explaining where that money goes and what it's for.

"The money is going to go to grantees, applicants and communities across the territory to support local community initiatives," said Gault.

Garvey added the campaign will begin handing out grants when the total reaches $3 million so it can keep growing over time. 

Once reaching its target goal, the fund will grant about $125,000 every year to support important community initiatives.

"So it's a fund that, in theory, will last forever," said Garvey.

Money has already started coming in with Diavik Diamond Mine seeding the fund with a $225,000 donation. The mine is also the title sponsor of the fund.

Diavik has also agreed to match up $100,000 in donations from others on a event happening Dec. 3 called "Giving Tuesday."

Anyone can donate, Garvey said, even if it's only a one-time donation and people can also donate as much as they like.

"When we have that fund at a level that we can start granting, the we would like to address initiatives in communities. Whether it's youth support, environmental initiatives, the arts, healthcare, a wide range that align with where our foundation's mission is," said Gault.

For the most part, these grants will be helping out non-profits and charities, Garvey added, and if all goes well, grants can be expected to start heading out the door by 2028 at the earliest.