Here are some of the most common questions Calgary Foundation (CF) receives from Donors and Professional Advisors:
Q: Who can establish Funds at Calgary Foundation?
Individual Donors, Charitable Organizations and Business Corporations can also create their own endowment Funds.
Q: What is the minimum amount required to start a Fund?
An individual, group or organization usually needs a minimum amount of $10,000* to establish a Fund. (* minimum amount can vary with specific fund types – refer cost recovery).
Q: What fees do you assess to Funds at Calgary Foundation?
The Foundation does not charge fees. Instead, we recover our service and investment management costs from all endowment funds based on market value.
Click here for more information on cost recovery.
Q: How do you support my/our gift planning choices?
Calgary Foundation offers information on a variety of purposeful giving options. Whether it’s exploring the vehicles available to make philanthropic decisions for contributions during lifetime, involving multigeneration family, or exploring ongoing, longer-term options, our Gifts & Donor Relations team is available to inform your journey.
Click here for more information on ways to give.
Q: How can our Funds benefit areas outside Calgary?
Calgary Foundation may distribute grants to organizations throughout Canada, and internationally. We may grant to organizations that are deemed “qualified donees” as defined under the Income Tax Act by Canada Revenue Agency (CRA).
View a list of qualified donees on CRA’s website here.
Q: What is the tax advantage for donating a gift of publicly listed traded securities to Calgary Foundation?
Gifts of publicly-listed securities in specie to charitable organizations are fully exempt from capital gains tax. This is one of the most preferred tax effective ways to make a charitable donation.
Q: Will I receive a tax receipt for my donation?
For eligible donations of $25 or more, the Foundation will issue official charitable tax receipts.
Q: What type of assets can I/we use to establish a Fund?
There are many asset gifting classes. While most frequently encountered at the Calgary Foundation are gifts of cash and cash equivalents, gifts of publicly listed securities, bequests and insurance, others gifting categories are available.
For more information on gifting vehicles, visit our website here.
Q: What amounts are available for distribution from our Fund?
To maintain our charitable registration, the Calgary Foundation is required to distribute a prescribed amount (disbursement quota “DQ”) as required under the Income Tax Act (Canada) (the “Act”) as grants to qualified donees. The DQ at the date of this publication is 5.0%.
Each year in March, the Foundation’s Board of Directors determines and approves a percentage of the primary endowment fund to distribute as grants based on the following:
- retaining the purchasing power of the Fund’s original gifts through inflation protection;
- distributing and spending no more than the Fund’s real return over the long term;
- complying with CRA disbursement quota requirements;
- minimizing the volatility of grant disbursements to the community; and
- maximizing financial support to the charitable community within the parameters above.
The Foundation’s current rate of distribution is effectively 5.0%.
Q: Which investment managers monitor the Calgary Foundation’s primary endowment?
The Foundation utilizes the expertise of external investment managers that work in accordance with a Board-approved Statement of Investment Policy to implement its investment strategy.
View our latest Endowment Portfolio Performance Report and Investment Managers
Q: What research services do you have available to supplement my/our charitable interest areas?
We have extensive community knowledge to share; and if it’s not at our fingertips, we’ll find it for you. Accessing our online Community Knowledge Centre, a searchable online resource that showcases charitable organizations working on innovative solutions to our city’s most pressing issues.
Upon the creation of a living or testamentary Fund, a designated Foundation staff member or team will become your primary relationship contact to help support you with your charitable goals.