The Paul Docksteader Foundation (held at CFNO) doubles Predator Ridge’s donation to Habitat for Humanity. From left: Glory Westwell, Paul Docksteader and Leanne Hammond.

Working Together Works: Enjoy the fun of philanthropy without the work

Add value to your Private Foundation, Corporate Giving or Personal Gifting

Can you enjoy the personal rewards of philanthropy without the administrative time and tasks that a Private Foundation can entail?

You can with a Donor Advised Fund through the Community Foundation of the North Okanagan!

“The spirit of partnership is just in our DNA – we love working with Private Foundations and Corporate Foundations to leverage good granting,” says Foundation executive director Leanne Hammond. “The key is recognizing that we all have the same goal: funding good work, and making our communities better places to live, work and play. We are delighted to work cooperatively with other funders.”

If you’re thinking about establishing a private foundation, you may even want to consider a Donor Advised Fund at a community foundation instead.

Here’s why:

  1. A Donor Advised Fund (DAF) has an easier and more cost-effective structure that allows you to accomplish your philanthropic goals while allowing you to leave a lasting legacy.

  2. The Community Foundation looks after all ongoing administration – accounting, investing, tax receipting, compliance reporting, etc. – so you can focus on what matters most: giving back to your community!

  3. A DAF can issue grants to any registered Canadian charity of your choice, or channel funding into the Smart & Caring Community Grants cycle each spring.

  4. A DAF can have the same name you’re considering for your private foundation, such as Chan Family Foundation, and you can appoint a fund successor so your philanthropic spirit continues for generations.
  5. While families or businesses often start private foundations, they often don’t have as much interaction with the charities as the Community Foundation does. “We’re always happy to help by sharing our community knowledge – we try to stay on top of where the gaps are, what needs are going unmet, and what projects or programs and really making a difference.”

A Donor Advised Fund at the Community Foundation of the North Okanagan can be established with initiating capital of just $5,000 and a pledge to be at $25,000 over five years. And while most of the Community Foundation’s funds are permanently endowed to create a lasting legacy, you can now establish a fund that permits access to capital by starting a “Spend Down Fund,” if making an immediate impact is more your goal.

Considering winding down your private or corporate foundation?

The Community Foundation can also help if you’re considering winding down an existing private foundation.

“What seemed like a good idea at the time may end up being more work and costing more administratively than hoped, or children may not be as motivated to continue the family’s philanthropic legacy,” Hammond notes.

Community Foundations can work with private foundations to transition from a stand-alone entity to an easy-to-manage fund that can even retain the same name; the Community Foundation simply assumes the administrative and reporting work.

“Family members can even maintain their involvement in granting if they wish, after all, that is the fun part!” Hammond says.

For more information about establishing a fund, exploring a granting partnership, or winding down an existing private foundation, visit online at cfno.org or call today at 250-542-8655.

Comments are closed

Just Posted

BC Transit incorporates North Okanagan route changes

Changes coming June 2 to routes in Coldstream and Armstrong

UPDATED 6:15 P.M.: Serious accident closes portion of Highway 6 in Vernon

Car and pickup involved in collision near Pottery Road just after 5 p.m.; detours around scene

Vernon baseball players land U.S. deals, help teammate battle cancer

Four Vernon players on Okanagan Athletics heading south to play ball at college

Vernon tattoo fundraiser draws tons of support

Lineup around the block for start and beginning of Five Fathoms Tattoo event for Children’s Hospital

Vernon Tigers, South Okanagan Flames play to wild draw

Thompson Okanagan Junior Lacrosse League match ends 17-17; overtime solves nothing

Weather holds up for Rutland May Days

60th annual May Day midway, market and entertainment saw hundreds of attendees

Raptors beat Bucks 118-112 in 2OT thriller

Leonard has 36 points as Toronto cuts Milwaukee’s series lead to 2-1

South Okanagan runners take top spots in Peach City RunFest

Both the top male and female half-marathon winners were from Penticton

Former Greyhound Canada employees gather in Okanagan to say a final farewell

“Greyhound may take our jobs but they will never take our friendships,” says former bus driver

Kelowna firefighters douse blaze in hedges

The cause of the fire on Renfrew Road is under investigation.

‘Teams that win are tight’: B.C. Lions search for chemistry at training camp

The Lions added more than 50 new faces over the off-season, from coaching staff to key players

Rescue crews suspend search for Okanagan kayaker missing for three days

71-year-old Zygmunt Janiewicz was reported missing Friday

Okanagan Springtime Regatta draws more than 50 sailboats

Sailors treated to windy, excellent long weekend conditions on Okanagan Lake in Kelowna

B.C. VIEWS: Reality of our plastic recycling routine exposed

Turns out dear old China wasn’t doing such a great job

Most Read