Frequently Asked Questions
What are the administration costs for the North Shore Community Foundation? The Foundation and its Board pride ourselves on the prudent management of the funds entrusted to us. Our overheads are extremely low. We operate without any paid staff or permanent office, which means our cost to administer the Foundation is very low (in 2014 administration costs amounted to 1.14% of revenues). We are very proud of the funds’ performance over the years, which has allowed us to grant over $1.5 million to deserving groups since we began while building up capital of over $3.1 million as at the end of 2014.
I would like to include the North Shore Community Foundation in my will. How might I do this? It is really quite simple. Should you wish to leave a bequest of some sort to the Foundation you need to make this instruction clear in your will. The following wording is a sample only and should be reviewed with your estate lawyer as you prepare or are updating your will: “I wish to leave [specify a dollar amount or a percentage of the residue of my estate] to the North Shore Community Foundation of PO Box 37104 Lonsdale, North Vancouver, British Columbia, V7N 4M0, towards [possible options]
- a contribution to an open endowment fund to be selected by the Board of Directors of the Foundation
- a contribution to add to the [a specific existing NSCF fund] endowment fund
- establishing a new endowment fund to be known as [details] for the purpose of[details]”
For more information contact the President of the NSCF at email@example.com.
My family and I are interested in endowing the North Shore Community Foundation with a sum of money that we would like to earmark for a specific charitable cause. How might we do this? First, thank you for considering the Foundation in your giving. The Foundation welcomes the establishment of a new endowment fund and can work with you and your estate planner to help you through the entire process. We can provide assistance in drafting the terms of the fund to meet an identified community need on the North Shore thereby ensuring that your wishes and those of your family are respected. For more information contact the President of the NSCF at firstname.lastname@example.org.
What amount of grant assistance might an endowment fund I set up provide annually? The amount of investment income generated by an endowment fund is a result, broadly, of two factors – the amount of principal in the fund itself and the investment income derived from that principal on an annual basis. Our Board of Directors regularly reviews its investments and overall investment strategy to ensure prudent stewardship of these resources. Our current investment approach measures portfolio returns over a five‐year period and withholds (from the rate of return available for disbursement) that component which is equivalent to annual inflation as measured by the Canadian Consumer Price Index. This will protect the purchasing power of your fund over the long term. For more information contact the President of the NSCF at email@example.com.
What type of assets can I donate to the North Shore Community Foundation? Your donations can take a variety of forms: cash, publicly traded stocks, as the beneficiary of a life insurance policy, real estate and personal property, RRSPs and RRIFs and Charitable Remainder Trusts. Determining how best to plan this giving from both a financial and tax planning perspective is something you should consider carefully with your financial planner and tax accountant. The Foundation can provide assistance to you with this process. For more information contact the President of the NSCF at firstname.lastname@example.org.
Is there a minimum amount I can donate to establish an endowment fund? Yes. The minimum amount required to set up your own fund is $10,000. This can be donated over time or in one lump sum. Alternately, you might also wish to consider donating to an existing fund [link to Our Funds section] that has been set up thus augmenting the overall principal and investment income that fund generates. For more information contact the President of the NSCF at email@example.com.
Are donations to the North Shore Community Foundation tax deductible? Yes. The Foundation is registered as a charity with the Canada Revenue Agency (charitable registration #89164-2043-RR001) and the Society Act of British Columbia. It is able to grant charitable donation receipts for gifts received. Should you wish to donate to the Foundation you can do so online. Details. For more information contact the President of the NSCF at firstname.lastname@example.org.
What is the tax advantage in giving publicly traded securities to the Foundation? The main advantage is that these securities (publicly traded stocks, bonds, mutual fund units, income trust units) are exempt from any capital gains tax and therefore represent a very effective means of charitable giving to the Foundation. Details. For more information contact the President of the NSCF at email@example.com.
What is a Trust Fund Account and does the North Shore Community Foundation administer such funds? If you are a registered Canadian Charity or not-for-profit organization and wish to establish a Trust Fund, you can do so with the North Shore Community Foundation. The capital in a Trust Fund would be managed by the Foundation and the investment income generated would be disbursed to your charity to support your work. The advantages to the agency is that it frees up time once spent on fund administration allowing the agency to concentrate on its core outreach. If your organization is considering this, it is important that you contact the Foundation as we can assist in guiding you through the process. For more information contact the President of the NSCF at firstname.lastname@example.org.
What does the North Shore Community Foundation do? Community Foundations are almost as old as Canada with the first community foundation set up over 100 years ago. The basic premise of a community foundation is that it provides a vehicle for people to give back to their community in perpetuity. The North Shore Community Foundation is no different in that it was set up in 1988 to serve the residents of the North Shore. Since this time we have received donations that create trust funds that we manage responsibly. Their investment proceeds are distributed back to the community according to the terms outlined in each fund agreement. Our mission is to accumulate and responsibly administer permanent capital that generates income to fund social, cultural, recreational and educational initiatives that directly benefit the residents of the North Shore.
How does one apply for support from the North Shore Community Foundation? It is really quite easy. Electronic applications are accepted from organizations who are registered under the Income Tax Act and whose intended beneficiaries are the residents of the North Shore. Grants are awarded annually. More detailed information on deadlines, application forms and submission requirements can be found on this site.
Does my organization need to be a registered charity with the Canada Revenue Agency in order to apply for funding? Registered Canadian charities, educational institutions and qualified “donees” as defined in the Income Tax Act are eligible for support from the Foundation.
I wish to apply to the North Shore Community Foundation for support of my organization’s work. How might I do this? The North Shore Community Foundation supports a variety of community projects each year. Our funding criteria is determined by the terms of the funds that have been set up as determined by the benefactor of the fund itself. In general we support projects that promote arts, culture and heritage; community development and community wellbeing on the North Shore. We provide various scholarships to deserving individuals as well as support to efforts that promote animal welfare. For more details of specific grant support and the application process please see the Grants and Awards section of this site. Our annual reports also provides a listing of the groups supported in the past and will provide an overview to the breadth of programs supported.
What are the application deadlines for applying to the North Shore Community Foundation for support? The deadline to apply for general grants assistance is 15 October each year (recipients are announced by end November). For applicants applying for the Judy Dennis Emerging Artist Award, the deadline for applications is 1 April (with recipients being announced by end June). For more details please see our Grants and Awards section of this site.
How can the North Shore Community Foundation assist my charitable organization in the management of funds given to our organization? A North Shore charity seeking sustainable funding or holding money raised or donated through fundraising activities can establish an endowment with the Foundation. By placing your endowment in the care of the Foundation, you can take advantage of the Foundation’s professional management and eliminate the administration required by your organization. This is an attractive solution for smaller non-profits who do not have the in-house expertise to manage these funds. For more info please contact the Foundation at email@example.com.
How might my client transfer a private charitable trust that has been set up to the North Shore Community Foundation? Existing private foundations or charitable trusts can be transferred to the North Shore Community Foundation to administer in accordance with Canada Revenue Agency guidelines all the while ensuring that the wishes of the original donor are carried out. For more information please contact the Foundation directly at firstname.lastname@example.org.
What is the process for my client to endow funds to the North Shore Community Foundation for a specific purpose? The process is really quite straightforward. Your client needs to identify the work that he or she wishes to support with the endowment and the terms for such support. By endowing a fund your client will be able to define the terms of how the proceeds of the fund will be used going forward. The Foundation is happy to assist you and your client with this process and in answering any questions you might have. We would encourage you to contact the Foundation directly for more information at email@example.com.