Creating a fund with SCF is generally a very simple process and can be done in several ways.
If you have designated SCF as a beneficiary in your will or life insurance policy, then you may forego meeting with us to establish a fund agreement. However, whenever possible, we still prefer to meet with any donor to ensure we honour your intentions for the gift.
Email us at info@shuswapfoundation.ca to learn more about starting a fund.
The first thing to consider when establishing a fund is whether you would like to start a fund now or later:
By creating a fund now, you have the opportunity to make your fund the centre of your charitable efforts. It is about making a difference by consciously choosing how much to give, when to give, and for what purpose. Or you may choose to donate to our Shuswap Community Foundation (SCF) Community Fund and pool your money with others to address community needs.
We offer a variety of giving tools: gifts of cash, life insurance and publicly traded securities, proceeds from golf tournaments or other self-organized fundraisers. By donating stock, you can receive preferential tax treatment and you avoid the capital gains that would otherwise arise from the sale of the stock.
The Shuswap Community Foundation also offers opportunities to make a future gift. We can work with you and/or your advisor to ensure the permanent endowment created at the time of your passing reflects your wishes for giving in the community.
Whether it is selecting Shuswap Community Foundation to be a beneficiary in your will, life insurance policy, RRSPs or RRIFs, we can provide a way for you to give back to the community you care about.
If you decide to leave a gift in your will to SCF, we would be delighted to hear from you. We treat all information you give us in strict confidence and would be happy to discuss your wishes and fund options with you.
There are 3 fundamental steps to establishing a fund with Shuswap Community Foundation. Our staff will work closely with you, your family, and your financial advisor if you choose, to complete these steps.
The initial discussion with a donor will explore questions surrounding their specific philanthropic wishes. We will determine the purpose of the gift, the type and amount of the gift, the name of the fund, the amount of ongoing involvement the donor wishes to have, and the type of recognition the donor wishes to receive.
Once these basic questions are answered, we will draw up a Deed of Gift for your review.
Every donor will be advised as to the specific requirements of establishing a fund. SCF named funds have a minimum donation of $1000 before the fund can be established as well as begin to grant out ($10,000). However, the donor will always have the option of creating an “emerging fund”, which allows them to build up to the minimum fund amount over time.
Note that there is no minimum donation if anyone wishes to donate to an existing fund.
The Shuswap Community Foundation enters into a written agreement with each donor intending to establish a permanent endowment fund (this is the Deed of Gift). This agreement sets out the purpose of the fund, the responsibilities of the Foundation and any specific requirements relative to the donor’s particular fund. The wording has been designed to meet the Canada Revenue Agency’s requirements for charitable giving.
An endowment fund is a forever legacy and a generous commitment of giving back to your community. You and your family can build this fund, receiving charitable tax receipts which can be applied to reduce your income tax. A bequest from your estate will continue to grow the fund and your children’s, children’s, children can stay involved in the Endowment for many years to come.
Regardless of the type of gift, donors can be assured that their goals will be carried out forever.
While most gifts by bequest are received without an existing contract in place, it is preferable that the Community Foundation have the opportunity to complete paperwork with the donor while they are still alive. This is important for several reasons:
