Money donated to the endowment funds at the North Bay and Area Community Foundation is invested in perpetuity. Earnings on the invested assets are available for charitable work, year after year. By preserving and growing the capital, the Foundation ensures that the endowments will continually produce income.
For you, an endowment is a way to make a difference in your community, one that will extend throughout and beyond your lifetime. It is a legacy of connection and caring that will touch thousands of lives over time.
For our community, your gift of endowment offers the assurance of reliable, ongoing support – help for those who need it most, when they need it.
Naming your fund:
The North Bay and Area Community Foundation offers a unique opportunity to ensure that your name, or the name of someone special to you, becomes a permanent part of our community. When you create your own endowment, you can name the fund in perpetuity. You and your friends and family can continue to grow the fund by making other gifts over time. As the capital grows, so too will the income available to grant.
To invest in our community now, consider the following options:
- A cash gift
- A gift of securities, such as stocks or bonds
Each type of gift has specific tax advantages, so you’ll want to discuss the individual benefits with your financial advisor. Your gift can be directed toward an existing fund, or used to create an entirely new fund.
Donor Directed Funds
Some donors want to have a direct, ongoing involvement in the way their endowment income is used. North Bay and Area Community Foundation welcomes your involvement and provides several opportunities for you to make your personal mark on our community.
- With a Field-of-Interest Fund you tell the Foundation what general area you would like to support i.e. arts and culture, or the environment.
- A Donor-Designated Fund allows you to indicate the specific charities that will benefit from your generosity.
- If you choose to establish a Donor-Advised Fund you will decide each year, with assistance from the North Bay and Area Community Foundation, how the money from your endowment will be granted.
If your family is thinking about establishing a private foundation, consider a Donor-Advised Fund. This will give you the same flexibility and involvement, with additional advantages including:
- Your named fund will exist in perpetuity.
- You will pay lower capital gains tax when contributing appreciated securities.
- Your investment program will be professionally managed for performance and stability.
- Accounting, government returns, auditing and due diligence will be handled by the Foundation, allowing you to focus on your philanthropic goals.
- You’ll benefit from our professional grant-making process and our many years of experience. We know our community inside and out.
- Thanks to our membership in the Community Foundations of Canada and other organizations, the foundation is current with trends and with government rules and regulations.
Registered Charity Endowment Fund
If you have ever been involved in a charitable organization, you know that funding is always an issue. Will we have enough to cover this year’s budget? How will we meet the growing demand for our service? What happens next year and the year after? A simple answer to all these questions is to establish a Registered Charity Endowment Fund, which will give you the opportunity to ensure the future of your organization by placing permanent endowment funds in the hands of the foundation.
The advantages are many:
- Your charity’s funds are pooled with other North Bay and Area Community Foundation funds for solid returns at lower cost
- You benefit from the foundation’s experience in managing endowment funds
- Your organization can focus on providing community services while leaving investment issues to the experts
- You can count on an ongoing source of income
- You can make long-term plans based on the earnings from your fund
- Donors who are interested in making an endowed or planned gift to your organization feel confident about making their gift to a North Bay and Area Community Foundation-managed fund.