An overview of private foundations (non-operating) for the financial advisor, planned giving officer, or philanthropist interested in learning about the legal and tax structure.
"Fund Raising and Revenue Generation" module lead by Shifa Soomar from ISB (Diffusion Pune - 2 day residential workshop for non-profit and social enterprises)
Innovation Women Speak! Not Just Another Personal Finance LessonInnovation Women
This interactive, action-driven session will teach you how to think of money as a tool (not just a goal!), how to get your financial life in order, and how to create a full financial wellness plan that you can actually follow. Your financial “Wealth Alpha™” is not about money alone: it’s about how you use your assets, relationships, unique knowledge, and other resources to accomplish your goals. Whether you’re just starting your financial journey or an experienced pro looking to hit refresh, we’ll make sure that this is not just another personal finance session.
You’ll learn:
· Who you still need to add to your Financial Wellness team
· One way to apply a unique resource to have your goals in the next 30 days.
· How to improve one bad money habit you have - in the next 30 days.
Social Finance and Impact Investing in CanadaKarim Harji
Presentation at OISE - November 21, 2012
• An overview of the state of social finance and impact investing across Canada
• An analysis of why Canada is well positioned to become a leader globally
• A participatory discussion on the key issues such as:
-- The perceived trade-offs between social impact vs. financial return;
--- How philanthropy can complement social finance;
--- Measurement of social value creation;
--- Legislation and public policy; and
--- Bridging silos between sectors and organizations.
An overview of private foundations (non-operating) for the financial advisor, planned giving officer, or philanthropist interested in learning about the legal and tax structure.
"Fund Raising and Revenue Generation" module lead by Shifa Soomar from ISB (Diffusion Pune - 2 day residential workshop for non-profit and social enterprises)
Innovation Women Speak! Not Just Another Personal Finance LessonInnovation Women
This interactive, action-driven session will teach you how to think of money as a tool (not just a goal!), how to get your financial life in order, and how to create a full financial wellness plan that you can actually follow. Your financial “Wealth Alpha™” is not about money alone: it’s about how you use your assets, relationships, unique knowledge, and other resources to accomplish your goals. Whether you’re just starting your financial journey or an experienced pro looking to hit refresh, we’ll make sure that this is not just another personal finance session.
You’ll learn:
· Who you still need to add to your Financial Wellness team
· One way to apply a unique resource to have your goals in the next 30 days.
· How to improve one bad money habit you have - in the next 30 days.
Social Finance and Impact Investing in CanadaKarim Harji
Presentation at OISE - November 21, 2012
• An overview of the state of social finance and impact investing across Canada
• An analysis of why Canada is well positioned to become a leader globally
• A participatory discussion on the key issues such as:
-- The perceived trade-offs between social impact vs. financial return;
--- How philanthropy can complement social finance;
--- Measurement of social value creation;
--- Legislation and public policy; and
--- Bridging silos between sectors and organizations.
Expert advice on international grantmaking and risk managementTed Hart
Expert Advice on International Grantmaking and Risk Management from CAF America, the recognized expert on tax effective, risk managed international and domestic grant making. Understand IRS regulations, learn ways to protect your reputation and become more strategic with your philanthropy.
Americans are some of the most generous givers on the face of the planet. They reach into their pockets and take out their checkbooks on behalf of others more often than any other industrialized nation.
Giving can be hard work. Having the right tools is critical to managing how to disburse funds effectively. This chart breaks down the differences between Donor Advised Funds, Private Foundations, Community Foundations and hybrid institutional vehicles.
Many entrepreneurs – social, triple bottom line or otherwise – do not avail themselves of all potential capital sources when seeking funding to grow or scale, limiting prospects to cash flow their initiatives. This seminar explores a range of options for funding: external in the marketplace, internal within an organization, new ideas and classics not to overlook.
The federal gift tax, when applicable, is levied upon giver of the gift or donor (not the recipient, referred to as the donee). Its purposed is to create a lifetime transfer tax on inter-generational gifts in order to back up the existing estate tax levied upon transfers at death.
The federal gift tax, when applicable, is levied upon the giver of the gift or donor (not the recipient, referred to as the donee). Its purpose is to create a lifetime transfer tax on inter-generational gifts in order to back up the existing estate tax levied upon transfers at death.
Foundation Center of Atlanta - Planned Giving Course
Charitable Gift Program
1. C haritable G ift P roGram
Helping you create a lasting legacy
2. It’s a good feeling to be able to support charitable causes you care about
in a meaningful way. Whether you want to help fund life-saving medical
research or health-care improvements, encourage artistic, environmental
or educational endeavours, or help people in need, your charitable gift
can make a real difference in the lives of deserving people.
If you’re considering how to create your charitable legacy, you have many
choices. Especially if you want to give an enduring gift, you may want to
establish an endowment fund or a private foundation. Both options, while
certainly worth considering, involve an ongoing time commitment to handle
administrative duties, which can sometimes overshadow the real pleasure
of giving.
If you prefer a more convenient alternative that enables you to make a lasting
gift, while enjoying significant tax advantages, the Charitable Gift Program
may be right for you.
1 Charitable Gift Program
3. h elPinG you Create
your leG aCy
The Charitable Gift Program, offered by RBC Phillips,
Hager & North Investment Counsel in partnership
with the Charitable Gift Funds Canada Foundation
(CGFCF), is specifically designed for individuals and
families wishing to support charitable causes in a
meaningful way, without the time and cost associated
with establishing a private foundation. It is an easy,
convenient way to support charitable causes you care
about, today and in the future, while receiving important
tax benefits.
Through this program, you can make initial and ongoing
contributions to a charitable gift fund administered by
the CGFCF, one of the leading charitable foundations in
the country. The program offers several advantages:
FLEXIBILITY
You can contribute cash, appreciated publicly
listed securities or other assets to the fund, then
recommend grants to the charitable organizations
of your choice based on the amount of accumulated
investment earnings available in your account.
You can also make a deferred contribution by
naming your charitable gift fund account as the
beneficiary of a charitable bequest, a life insurance only today but in the future as well. Additional
policy, a qualified registered retirement plan, a contributions can be made to a charitable gift
charitable remainder trust or another existing fund at any time, producing a generous tax credit
private foundation. in the year of the gift.
IMMEDIATE TAX BENEFIT ELIGIBILITY ENDURING FAMILY LEGACY
You receive an official charitable donation receipt The program helps you create an enduring family
for the full fair market value of your contribution. legacy fund. Like a private foundation, you can also
Gifts of qualifying securities may also be eligible for give your fund a unique name that reflects your
a capital gains tax exemption. family’s legacy, such as The Smith Family Fund
for the Arts. You can also name grant advisors and
SIMPLICITY successors to your fund so your family’s legacy
You enjoy simplified, comprehensive administration continues. If there are no surviving successors after
of your charitable gift planning over time. A single you pass away, CGFCF will continue your legacy by
contribution can benefit multiple charities, not awarding grants to eligible charities consistent with
your original intent.
Charitable Gift Program 2
4. GRANT RECOMMENDATION PRIVILEGES ChoosinG the riGht oPtion for you
In addition to being immediately entitled
to generous tax credits for all contributions, You have many options when it comes to creating
you can make recommendations on how your charitable legacy. Most commonly, people
account earnings are distributed to your simply give cash or donate property. Other options
favourite charities throughout your lifetime include leaving a bequest in your Will, donating an
and, if desired, in perpetuity. insurance policy on your life, or opening a charitable
gift annuity that provides income. For larger gifts,
INVESTMENT STRATEGY RECOMMENDATIONS you might consider a charitable remainder trust,
You can recommend an investment strategy endowment fund, or private foundation.
for your gift contributions, choosing from a
A CONVENIENT ALTERNATIVE
wide range of options professionally managed
by RBC Phillips, Hager & North Investment The Charitable Gift Program is designed as a
Counsel. convenient alternative to establishing a private
foundation that is both cost effective and tax efficient.
ENHANCED GIVING POWER OVER TIME
Starting a private foundation in Canada can
Any potential growth in assets realized within
involve considerable start-up costs and ongoing
your account accumulates tax free, enhancing
administrative expenses, such as the annual filing
your ability to recommend increasingly larger
of CRA information and tax returns. With a charitable
charitable grants in the future.
gift fund, there are no set-up costs and just a low
ADMINISTRATION FEE annual management fee.
Each charitable gift fund account is allocated an A charitable gift fund also offers important tax
annual administration fee of up to 0.75% of the advantages compared to a private foundation.
account’s assets to pay for the CGFCF’s operating When you contribute qualifying appreciated securities
expenses. This fee is reduced for accounts with to a charitable gift fund, the gain is exempt from
$2.5 million or more in assets. taxation. A private foundation does not receive this
preferential tax treatment.
The main advantage of a private foundation is the
high level of direct control it provides. However,
if you do not require this degree of control, or would
prefer to be free of the administrative obligations
that having this control entails, then you may want
to consider a charitable gift fund instead.
The following page provides an overview of the key
features of a charitable gift fund compared to both
a private foundation and an outright gift.
3 Charitable Gift Program
6. CreatinG your leGaCy
ONE-TIME GIFT TO A CHARITABLE ORGANIZATION
Description Gift options Taxes Advantages Considerations
n A CRA-registered n Cash or other n Donation receipts n Immediate benefit n Some charities
charitable property donated issued for full fair to charity unable to accept
organization that directly to a chosen market value of n Current income tax donated securities
carries out approved charity and used contributions made credits to reduce n One-time giving
charitable activities to fund approved n Gifts of appreciated other tax owing versus an
and can receive charitable activities securities entitled enduring legacy
funding from donors undertaken by the to preferential n Donations must be
directly and from recipient organization tax treatment on
other sources such made annually to
capital gains
as foundations receive ongoing
n Donation receipts tax benefits
issued for full fair
market value of
estate gifts
RBC PHILLIPS, HAGER & NORTH INVESTMENT COUNSEL CHARITABLE GIFT PROGRAM
Description Gift options Taxes Advantages Considerations
n A fund managed n Cash or other n Donation receipts n No start-up costs, low n Board of Directors
by CGFCF, a non- property, such issued for full fair fees and expenses of CGFCF has
profit, grant-making as appreciated market value of n Minimum contribution final authority on
organization securities, to contributions made grant allocations
of just $25,000
registered as a public establish and n Gifts of appreciated n Donations are
foundation with the maintain a perpetual n Professional advice
securities entitled irrevocable – donors
CRA specializing in legacy fund n Tax credits to reduce
to preferential give up control of the
the management n Proceeds fund grants income taxes
tax treatment on donated assets
of charitable gift to other qualified capital gains n An enduring gift that
fund accounts organizations for n Donation receipts can grow over time
n Fund-holders approved charitable issued for full fair n Anonymous if desired
can recommend activities undertaken market value of
annual grants from by the recipient n Successors can be
estate gifts
investment earnings organizations named to oversee and
to qualified charities sustain legacy fund
SETTING UP YOUR OWN PRIVATE FOUNDATION
Description Gift options Taxes Advantages Considerations
n A non-profit, grant- n Cash or other property n Donation receipts n Full control n Start-up costs
making organization donated directly to issued for full fair over charitable $5,000-$25,000
registered as a private the foundation market value of distributions n Higher legal and
foundation with n Proceeds fund grants contributions made maintenance costs
the CRA to other qualified n Gifts of appreciated
n Minimum contribution
n A private entity that organizations for securities not entitled typically $300,000
receives most of its approved charitable to preferential
funding from one activities undertaken tax treatment on n Full liability for
source, usually an by recipient charitable capital gains CRA filings and
individual, family organizations administrative
n Donation receipts
or corporation compliance
issued for full fair
market value of
estate gifts
5 Charitable Gift Program
7. helPinG you Create a leGaCy of GivinG
CHARITABLE GIFT FUNDS CANADA FOUNDATION
We are pleased to offer the Charitable Gift Program in partnership with
the Charitable Gift Funds Canada Foundation, an independent, non-profit
charitable organization registered as a public foundation with the CRA.
Established in 2003, the foundation specializes in the management
and administration of charitable gift funds and is dedicated to helping
donors increase and sustain their charitable giving to deserving
organizations across Canada.
Choosing how to create your legacy is a very personal decision, but we’re
here to help make it easier. If you want a convenient way to create an
enduring legacy, while enjoying important tax benefits, the Charitable Gift
Program may be a good choice for you. Please contact your Investment
Counsellor for more information.
Charitable Gift Program 6