Page 27 - ECF-LIA-June-Summer-2024-flipbook

Insuring a Legacy
The Kembhavi family takes a unique path to philanthropy through a gift of insurance
By ECF
Dilip and Alaka Kembhavi are securing a legacy
by establishing an endowment fund at Edmonton Community Foundation (ECF) through the donation of a life insurance policy.
Through this unique approach, the Kembhavis’ commitment to their community resonates.
“I said, ‘you know what? We should find an organization that’s part of the community and that helps the community,’” Dilip says. “And, through talking to some friends of ours, we decided to make ECF one of the beneficiaries.”
Their connection to Edmonton runs deep, stemming from their arrival in the city in 1972 to pursue higher education at the University of Alberta. Hailing from a small town in India, Dilip found a second home in Edmonton, where he not only completed his master’s in engineering but also cultivated lifelong friendships and professional connections.
“Edmonton is like home to me,” he says.
Over the years, his engineering career took him across various sectors and continents including management consulting and eventually founding his own company, Shivasoft. Through it all, Edmonton remained his anchor, a place where he raised his family and found fulfillment in contributing to the community that had embraced him.
The Kembhavi family’s decision to establish an endowment fund at ECF was influenced by their desire to give back to the city that had given them so much. And
there are also practical financial benefits to establishing an endowment through a gift of insurance.
“Not only are you giving back to the community, but there’s also tax advantages to it,” Dilip explains.
As he delves into the areas his fund will support, his passion for education, arts and nature conservation becomes clear.
“And to me, basically from where my background is, education is very important,” Dilip says. “Plus, nature. I like the outdoors.”
Dilip and Alaka’s personal experiences and values have guided their philanthropic priorities, ensuring that their contributions align with their beliefs and aspirations for Edmonton’s future.
From their humble beginnings to thriving careers and community engagement, the Kembhavis’ story underscores the importance of giving back and paying it forward.
As Dilip and Alaka look to the future, their legacy will extend far beyond their lifetimes, shaping Edmonton’s cultural landscape, educational opportunities and conservation efforts for generations to come.
“Not only are you giving back to the community, but there’s also tax advantages to it.”
— Dilip Kembhavi
ecfoundation.org 27