Frequently Asked Questions
Please use the drop down menus to explore the answers to many commonly asked questions. If you do not see the answer to your question, we encourage you to connect with us at 250.832.5428 or by writing to us at firstname.lastname@example.org.
How can I donate to Shuswap Community Foundation?
You can contribute any amount to our existing endowment funds. Or you may wish to support an Agency Fund or one of our ten Funding Areas within our Community Fund that address the most emerging needs of the community. SCF offers a variety of giving options including, cheque or credit card, publicly traded securities, and deferred giving options (charitable bequest, life insurance, RRSP/RRIF/TFSA). Donors, charities, non-profit agencies and corporations can also create their own endowment fund. Tax receipts will be issued for any donation over $25.
I’m interested in starting a Fund, what are my next steps?
Setting up a fund with Shuswap Community Foundation is easy and we are here to help you develop a highly personalized approach to giving. Call our staff at 250.832.5428 and we will work with you to take care of the legal requirements of establishing an endowment fund.
I want to remember Shuswap Community Foundation in my will. What should I do?
1. Talk with the right people. Talk with your family, friends, financial advisor, or lawyer. Discuss what you care about and what impact you would like to have in your community. Explore what type of gift you would like to include in your estate plans; Will bequest, life insurance, RRSP/RRIF or something else. There are many options.
2. Call Shuswap Community Foundation. We're happy to answer questions about gift types, fund options, and tax implications. With our extensive knowledge of the community, we can help you identify the best way to support the causes you care about. Contact our staff at 250.832.5428.
3. Update your will. A well-prepared, up-to-date will is essential to making your wishes known so that your legacy is exactly what you want it to be
I have a client who is interested in making a gift to SCF. Who should I talk to?
Our staff would love to talk to you about how to help your clients achieve their philanthropic goals. Call us at 250.832.5428.
What is the minimum amount required to start a fund?
You can set up an endowment fund with as little as $1,000, with a commitment to build your fund to $10,000 over time. To set up a permanent endowment fund that can start granting now, $10,000 is required. Please contact our staff at 250.832.5428 or email us at email@example.com.
What are my giving options?
SCF offers a variety of giving options. Whether it's contributing to a pre-established fund, setting up your own endowment, making an outright gift, or more complex, long-term arrangements, we work with you to meet your financial needs and your personal philanthropic goals.
What are Shuswap Community Foundation’s fees?
As a not-for-profit organization, Shuswap Community Foundation's fees are only designed to recover our actual costs (currently 1.4% of fund value). SCF is also charged a fee by our Investment Management firm that is applied across all funds. At this moment, the fee is 0.46%.
Creating a fund with SCF is considerably less expensive than starting a private foundation. We handle daily administration, file annual tax returns and process grants.
Are there any limits to online donations?
You can donate online for gifts over $10, up to a maximum of $10,000. As with offline donations, donors will receive a tax receipt for onetime gifts over $25. If you are interested in setting up your own fund, or donating in another way, please contact our staff at 250.832.5428 or firstname.lastname@example.org.
Can I access my fund online?
SCF is committed to providing ongoing communication and providing transparency to our many funders. As part of this effort, we are working to update our website with functionality for funders and fund holders to access information about their funds online. Until this is available, our staff will be providing emailed statements of funds. If you have not yet received a copy of your fund statement, please contact our offices at email@example.com or 250.832.5428.
How do I learn about charities’ priorities in my community?
SCF works regularly with numerous charities across the Shuswap. Our Staff and Directors are very knowledgeable and eager to discuss community needs with donors and are able to connect people with the causes they care about.
I didn’t receive my confirmation email or eTax receipt. What should I do?
Though email is generally instant, there can sometimes be a delay of a few hours before your emails arrive. Try checking in your “Junk” or “Spam” folder, and if you are still unable to find it, contact us. We can confirm your email address and re-send your confirmation. For future donations, you might consider adding firstname.lastname@example.org to your “safe senders” list so you’ll be sure to never miss an email.
My credit card expires this year. Can I still set up a recurring donation?
Yes. You can set up your donation today. When your credit card expires, simply contact us with the new information and we’ll update it for you. If we don’t hear from you, we’ll automatically contact you as the expiry date nears.
What name will appear on my eTax Receipt?
Per Canada Revenue Agency standards, your eTax Receipt will reflect the name on your credit card. This is why it is very important to make sure that you enter your name exactly as it appears on the card you use to make your donation.
What type of assets can I use to start a fund?
Gifts can be made in several forms including: cash, publicly traded securities, life insurance, charitable remainder trusts, private property and bequests.
When are eTax Receipts issued for recurring donations?
You will receive a single annual eTax Receipt in February of the following year, in time for tax season, along with a summary of all transactions.
What is Canada Revenue Agency’s policy on charity disbursement quota?
The disbursement quota is the minimum calculated amount that a registered charity is required to spend each year on its own charitable programs or on gifts to qualified donees, such as other registered charities.
Complete disbursement quota policy information can be found on the Government of Canada website.
How is Shuswap Community Foundation’s disbursement quota calculated?
Shuswap Community Foundation’s distributions are based on a 24-month averaged market value of our Endowment Fund (Smoothing Formula). The SCF board has adopted this formula as a method intended to account for market fluctuations over time, smoothing peaks and valleys in our distribution levels year after year. This “smoothing” helps SCF to achieve the goal of giving as much as possible to the community each year while preserving the value of the endowment over time (protects against inflation).
The distribution rate is reviewed and confirmed annually by the Board of Directors (Review: January, Confirmation: June).
How does it work?
- SCF’s distribution rate takes into consideration several factors that include the previous year’s distribution, the market value of the Capital Fund, and the rate of inflation.
- The Foundation tracks the monthly value of the capital fund (Minus administrative and Portfolio Management fees) over a 24-month period and averages those values.
- The board approved distribution rate is then applied to this averaged value to determine fund disbursements.
- The Distribution Rate is confirmed by Shuswap Community Foundation as of June 30 annually for the following calendar year.
- The distribution rate is expected to be constant for the entire year but, is subject to review and change by Shuswap Community Foundation’s Board of Directors if deemed necessary.