Information for Donors
The Community Foundation of the South Okanagan offers donors unparalleled flexibility. Whether working with an individual, business, organization or family, we offer
countless ways to fulfill donors' charitable goals and allow them to make a lasting difference in their community.
We are committed to offering the flexibility that allows donors to tailor giving programs to their unique circumstances and preferences. Donors can give to any number of
charities, select from a variety of legacy fund options, chose different ways in which to make gifts and determine their own degree of personal involvement.
Donors who contribute to an existing fund, or choose to cultivate their own named legacy, join people from all walks of life throughout the region who have one thing in
common: the desire to give back to their community - forever!
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Legacy Fund Types
Regional and Community Funds provide maximum flexibility in responding to evolving community needs and opportunities
over time. After a thorough evaluation by the grants advisory committee, grant distributions from regional and community funds are recommended to the Board for approval.
Field of Interest Funds can be established by donors wishing to support a cause or general area of interest. In keeping with
the donor's chosen area of interest, the grants advisory committee researches and evaluates agency proposals and recommends grants for Board approval.
Designated Funds enable donors to support one or more specific charitable
agencies. Income is allocated to the agency, or group of agencies, designated in the fund agreement. Should a designated agency cease operation or significantly alter its
purpose, allocations are re-directed to an agency with a purpose similar to the original one.
Donor Advised Funds provide donors with the opportunity to be actively
involved in distribution of income from their fund. Each year, the Community Foundation contacts these donors for advice on which agency or project meets their current
charitable goals. Donor advised funds are considered an attractive, and cost effective, alternative to the establishment of a private foundation.
Scholarship and Bursary Funds are cultivated by donors wanting
to help students receive education or training they might not otherwise be able to access. The recipients are chosen by school selection committees and the scholarship or
bursary allocation is sent directly to the student's chosen post-secondary institution.
Agency Endowment Funds are established by charitable organizations
wanting to cultivate a source of sustained income for their agency. Income is allocated back to the fund holder annually. These open funds may also be contributed to at any
time, in any amount, by anyone interested in supporting the charity.
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Giving Options
There are a variety of ways to grow a Community Foundation of the South Okanagan fund, whether you choose to establish your own named legacy or contribute to one of
numerous open funds under administration.
Current Gifts are those donors give now,
during their lifetime. Some examples of current gifts are:
- Cash and cash equivalents
- Securities
Deferred Gifts are those a donor makes arrangement to leave after their lifetime. Some examples of deferred
gifts are:
- Bequests
- Life insurance
- Charitable remainder trusts
- Residual interest
For income tax purposes, official receipts are issued for all donations.
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Growing Your Own Legacy
Donors may choose to develop and grow their own legacy, naming their fund anything they wish: after themselves, a family member, a company or a valued
friend. Fund names sometimes convey a specific goal or purpose, or hold special, private meaning for the donor. Others are established in memory of a loved one, or as a
means for the entire family to participate in giving back to their community. With a minimum contribution of $5,000, donors can cultivate one of the
following types of named funds: Community, Field of Interest, Designated, Scholarship and Bursary, or Agency fund. Donor advised funds require initiating capital of
$10,000.
The Community Foundation is committed to making the establishment of a named fund simple. We respond immediately to inquiries from donors or their advisors and work
closely with them to create fund agreements that align closely with their charitable goals.
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Emerging Funds
Donors who wish to start a named fund today but who are unable to contribute the minimum initiating capital may choose to start an emerging fund. An emerging fund
allows donors to make an initial contribution and provide the balance over the period of time agreed upon with the Community Foundation. Income from the fund is reinvested
into the fund until the minimum capital is accumulated and the fund becomes fully established.
Contributing to Existing Funds
Everyone can get involved in giving back to their community and help grow legacies. The Community Foundation of the South Okanagan welcomes donations in any amount to
support the growth of a wide range of open funds. Every donation is important and regardless of the size of your gift, you may request it be added to a specific open fund.
Upon request, the executive manager will provide a current list of open funds for donor consideration.
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