F.A.Q.'s
What kind of funds can I establish or participate in?
Why give to the COF?
How can I contribute?
When is a Good Time to Give a Gift?
Who gives to the COF?
What happens to my gift?
Q: What kind of funds can I establish or participate in?
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. What a wonderful way to establish and family legacy or generate recognition of your company's community support! Minimum capital contribution of $10,000. (Fund can be started with as little as $2,000 and a pledge to be at $10,000 in 5 years)
Donor Advised Fund - minimum capital contribution of $50,000. (Fund can be started with as little as $10,000 and a pledge to be at $50,000 in 5 years) 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.
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.
A:For more information about how to establish a fund visit our contact page
and fill out the required form or simply call our executive director at 250.861.6160.
Q: When is it a good time to give a gift?
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 feel they cannot afford to surrender capital during their lifetime. That is why more dollars are given by bequests (gifts through a will) than any other form of gifts.
Planned giving is simply the process of planning your philanthropic gifts to meet your personal objectives. Whether your gift is a one-time donation, ongoing support, or a gift in your will, 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 may require 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.
A: Anyone 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.
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
While the COF is a Community Foundation, we are also able to facilitate gifts to national and international charities. We are committed to providing one stop gifting to our donors and can take care of ALL of your charitable needs!
The capital gift you have given will be held in perpetuity with the income generated distritubuted to your charities of choice on an annual basis.
Endowment giving provides a gift that truly lasts more than a lifetime.