A gift to the Community Foundation of
the North Okanagan simplifies charitable giving. Several
charitable organizations or causes can be provided for annually
with a single gift.
For example, a donor wishing to donate to youth in Vernon
could purchase a life insurance policy with the annual distributions
to be divided in thirds between the University College,
The Boys & Girls Club, and disadvantaged children.
Almost any charitable intent can be realized,
by choosing from among the endowment fund types offered
by the Foundation. Furthermore, the range of charitable
possibilities is very broad, encompassing: arts, culture,
heritage, community festivals, social services, healthcare,
education, nature, recreation and sports.
The donor is assured that the fund will
remain intact in perpetuity. The Foundation has a Preservation
of Capital Policy which is followed to ensure that the original
gift is protected. Only the annual returns can be spent.
All donors receive recognition in our
Annual Report and on our web site. In addition, all grants
from a fund established by the donor are identified to the
recipients by the name given to the fund. Of course, if
a donor requests anonymity the Foundation will give assurance
that such wishes are respected.
The Foundation has a conservative investment
policy and contracts with very reputable professional investment
managers resulting in excellent returns on investments at
the lowest cost.
The Foundation qualifies as a registered
charity under the Income Tax Act. Thus, gifts made at any
time will result in important income tax advantages.
With an overall administrative fee of
only 1%, the Foundation provides an attractive alternative
to those considering establishing a private foundation.
The Foundation, through its active role
in the community and its rigorous granting process, has
proven to make significant differences in the community
with the grants it has made.
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