How Donations Work
A donation can be made to the Foundation as a present gift (those occurring during an individual’s lifetime) and as a deferred gift (those occurring upon the death of an individual.) Present gifts can assist the Foundation immediately and help the donor through tax credits and savings on capital gains. Deferred gifts will help the Foundation at a future date, while also serving to benefit the donor’s estate.
Funds may be invested as an endowment fund to generate income, in perpetuity, for charitable causes. They may also be spent promptly as per the donor’s wishes. All contributions to the Foundation are managed responsibly by a group of community leaders who are dedicated to preserving and enhancing the quality of life in our region.
How Can I Make A Contribution To The Foundation?
You can make a donation to the Foundation, or to any Fund within it, at any time. You can simply contact the Foundation by phone or email, or choose our online donation option.
If you wish to include the Foundation in your planned giving, please discuss this with your professional advisor prior to contacting the Foundation to set up a meeting. The Foundation will advise you on the process for making donations and for receiving any tax receipts. They will also help you decide the type of fund you set up.
The final decision is how you wish for the income from your fund to be dispersed on an annual basis.
Types Of Funds
Donors to the Foundation may choose from two different types of funds to meet their charitable goals: a Community Fund and a Designated Fund.
Community Fund
This is an unrestricted fund whose income is directed at the discretion of the Foundation’s Board of Directors. This fund is designed to allow the Foundation to respond to the changing needs of our communities. Many donors choose to support this fund as it allows grants to be made to a broad range of groups and programs each year.
Designated Fund
A designated fund allows donors to specify, at the time the fund is established, the organizations they wish to support. The Foundation’s Board reserves the right to reapply funds, if a designated agency ceases to exist or becomes obsolete.
The following are examples of Designated Funds:
Field of Interest Funds
A field of interest fund enables a donor to focus their giving in a particular charitable area (arts, environment, health, education, youth, etc.). Recipient agencies in the selected field of interest are chosen by the Foundation each year.
Scholarship Funds
A named scholarship can be established to support the continuing education or training of deserving students. Student scholarship grants are paid directly to the educational institution, and criteria can be determined by the donor.
Charitable Organization Endowment Funds
A charitable organization may establish an endowment fund within the Foundation and invite additions to the fund by other donors. This allows the organization freedom from the investment responsibility and gives donors the confidence of knowing that a permanent Foundation is in place to professionally administer the agency's endowment.
