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Q: What kind of funds can I establish or participate in?
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A: One of the strengths of the COF is its tremendous flexibility
with regard to direction of funds. Small gifts may be added to
existing funds, or gifts can become a fund unto itself.
Fund options include:
Community Fund - serves the broad needs of the community.
Income is distributed in response to applications received by
COF from charitable organizations.
Field of Interest Fund - serves a distinct sector of the
community: arts & culture; children, youth & family; education;
health & community service; and heritage, historical &
conservation.
Williams/Wace Administration Fund- the income from this fund
is used to help defray the Foundation's operating costs.
Agency Endowment Fund - income is generated for a specific
charitable organization.
Family/Business Fund - these are established by families
or businesses and produce an investment income that can be distributed
to a specific charity, field of interest, or can be added to the
community fund.
Donor Advised Fund - minimum capital contribution of $50,000.
Investment income is distributed annually with input from the
donor. This Fund allows the donor to retain the essential elements
of a private foundation without the higher costs associated with
the administration of a private foundation.
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Q: Why give to the COF?
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A: The COF enables your contribution, however great or small
to work for your community for generations to come. The COF allows
you, the donor, to direct those earnings into general areas of
interest, or specific charities. You can even establish your own
Fund through the COF ($10,000 minimum capital requirement can
come in over a five-year period)
The COF will be wise stewards of your charitable dollars and
will invest the income generated in important community projects.
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Q: How can I contribute?
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A:For more information about how to establish a fund visit
our contact page
and fill out the required form.
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Q: When is it a good time to give a gift?
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A: Any time during your life is a good time to make a gift,
or to plan to bequeath a gift. The desire to give something back
to your community often occurs during time of significant change
in your life, or you may be motivated to share the good fortune
of a business sale, dividend or inheritance.
However, many cannot afford to surrender capital during their
lifetime. That is why more dollars are given by bequests than
any other form of testamentary gifts.
Planned giving is the process of planning your philanthropic
gifts to meet your personal objectives. Whether your gift is a
one-time donation, ongoing support, or a future bequest, you have
the freedom to direct your charitable gift toward areas of interest
most important to you.
The planning process usually involves your financial and estate
plan. It is often made through a legal instrument and requires
the participation of advisors, lawyers and/or accountants. These
advisors can often identify tax savings or make your gift go farther.
Donors can also call upon the specialized expertise of the COF.
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Q: Who gives to the COF?
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A: Anyone or any entity can give to the COF in any amount.
The COF has a number of ways for individuals, families, organizations,
private foundations and businesses to contribute. The COF is the
vehicle that enables donors of many different means to give something
back to their community.
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Q: What happens to my gift?
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A: Your gift will be pooled and invested, with the earnings going
to the area specified at the time the gift is made. This could
include, a specific charity, a field of interest, or a wide range
of charitable activities within the Central Okanagan. You can
even specify a geographic area such as LakeCountry or Peachland.
The capital gift you have given will be held in perpetuity with
the income generated as the return to the Contact Info community
on an annual basis.
A gift that truly lasts more than a lifetime.
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