Professional Advisors - Frequently Asked Questions
Here are some of the most common questions Vancouver Foundation receives from professional advisors and their clients.
If you would like more information or have additional questions, please call our Development and Donor Services department at 604.688.2204.
Q1: How can my client donate to Vancouver Foundation? Is there a minimum donation amount? [View answer]
Q2: What is the minimum amount required to start a fund? [View answer]
Q3: What are my clients giving options? [View answer]
Q4: Can charitable funds established at Vancouver Foundation benefit areas outside metro Vancouver? [View answer]
Q5: What is the tax advantage for giving a gift of publicly-traded securities to Vancouver Foundation? [View answer]
Q6: Will my client receive a tax receipt for their donation? [View answer]
Q7: What are Vancouver Foundation's fees? [View answer]
Q8: Can my client name a successor to their fund? [View answer]
Q9: What type of assets can my client use to start a fund? [View answer]
Q10: What amount can my client expect to disburse in grants each year from their endowment fund? [View answer]
Q11: What money managers does Vancouver Foundation use to manage the two investment funds? [View answer]
Q12: If my client is interested in a particular topic (for example the arts), can Vancouver Foundation help connect them to interesting proposals that are looking for funding? [View answer]
Q: How can my client donate to Vancouver Foundation? Is there a minimum donation amount?
A: Your client can contribute any amount to our existing endowment funds. If they wish to support our Grants and Community Initiatives Program they can contribute to any of our nine Field of Interest Funds or our Community Impact Fund.
Donors, corporations and charities can also create their own endowment fund.
Q: What is the minimum amount required to start a fund?
A: The minimum gift to establish an endowment fund is $10,000, although we also offer individual donors the option to establish an endowment to fulfill their $10K commitment fund over time.
Q: What are my clients giving options?
A: Vancouver Foundation offers a variety of giving options. Whether it's contributing to a pre-established fund, setting up their own endowment, making an outright gift, or more complex, long-term arrangements, we work with you and your client to meet financial requirements and philanthropic goals.
Q: Can charitable funds established at Vancouver Foundation benefit areas outside metro Vancouver?
A: Yes. The Vancouver Foundation is the only community foundation in Canada with a province-wide mandate. Our goal is to create positive and lasting impacts in communities throughout British Columbia. Grants from Donor Advised Funds can also be given to national and international charities.
Q: What is the tax advantage for giving a gift of publicly-traded securities to Vancouver Foundation?
A: Gifts of publicly-traded securities (stocks, income trust units, bonds, and mutual fund units) are exempt from capital gains tax. This is one of the most tax effective ways to make a charitable donation.
Q: Will my client receive a tax receipt for their donation?
A: Vancouver Foundation will issue tax receipts for every gift to Vancouver Foundation.
Q: What are Vancouver Foundation's fees?
A: As a not-for-profit organization, Vancouver Foundation's fees are only designed to recover our actual costs - whether it be our operating/administration costs or our investment services costs.
Creating a fund with Vancouver Foundation is considerably less expensive than starting a private foundation. We handle daily administration, file annual tax returns and process grants.
We have two services for which we recover costs.
Q: Can my client name a successor to their fund?
A: Yes, your client can name a successor (or successors) to their fund. If there is no successor, or upon the successor's death, the Foundation's Board of Directors will continue to direct the funds in accordance with your clients wishes.
Q: What type of assets can my client use to start a fund?
A: Gifts can be made in several forms including: cash, publicly traded securities, life insurance, charitable remainder trusts, private property and bequests. Vancouver Foundation staff can help you and your client customize a giving approach that takes into account personal interests and tax planning needs.
Q: What amount can my client expect to disburse in grants each year from their endowment fund?
A: Our Investment Committee and Board of Directors review the disbursement rate at least annually, taking into account current market conditions and the investment portfolio returns. Our distributions are based on the market value of each endowment fund, averaged over the past eight quarters. Any remaining investment income, less fees, is reinvested into the capital of their fund.
Vancouver Foundation's current distribution rate is 3%. A history of our distribution rate can be viewed here
Q: What money managers does Vancouver Foundation use to manage the two investment funds?
A: The Foundation employs several investment firms to manage the funds in our care. By spreading our funds over several firms we can select money managers based on their areas of expertise, and help reduce the risks associated with putting too many of our funds with one money manager.
Q: If my client is interested in a particular topic (for example the arts), can Vancouver Foundation help connect them to interesting proposals that are looking for funding?
A: Yes. That is a key advantage of having your fund with Vancouver Foundation.
Vancouver Foundation is knowledgeable and very well connected to the community. Our advisory committees, who review and evaluate grant proposals comprise many individuals and organizations that are directly involved in various fields, including arts and culture, education, medical research, and children, youth and families, etc.
