How Foundations Work
Community Foundations in Canada are independent charitable organizations which focus on the needs of the people within a specific geographical area.

An umbrella organization known as Community Foundations of Canada works with the individual foundations to develop standards, deliver education and provide leadership, both within the movement and externally.

If you would like to learn more about Foundations and/or see which other communities in Canada have a Foundation click on this link www.community-fdn.ca.

A donation to the Community Foundation of the North Okanagan will allow you to help our communities forever. Your donation is invested as a permanent endowment fund to generate income, in perpetuity, for charitable causes. It is managed responsibly by a a group of respected community leaders who are dedicated to preserving the quality of life for our children and grandchildren. Your gift keeps giving year after year.

What is an Endowment Fund?
An Endowment Fund is created by financial contributions from individuals, families, groups or corporations. The monies have been donated in perpetuity to support charitable programs and projects. The funds are invested so as to generate annual income which is distributed to charities based on the direction of the original donor. The original capital is never spent, only the annual income.

What is Planned Giving?
Simply put, it is planning for the gifts a person wishes to give either during their lifetime or after their passing.

It includes "Present Gifts" which defines those gifts a person wishes to make available to their favourite charity(s) during their lifetime. Gifts can include cash, gifts-in-kind, life insurance (cash value) etc.

It also includes "Deferred Gifts" which are only available to the charity(s) after the death of the donor. These include bequests, life insurance, gift annuities, charitable remainder trusts and residual interest.

In short, "Planned Giving" allows people to think through their philanthropic objectives and set out a plan which will provide the best method of achieving them. "Present Gifts" can help the favourite charity immediately and may also help the donor through tax credits or reduced inclusion rates on capital gains. "Deferred Gifts" will ultimately help the favourite charity and will benefit the donors estate.

As our population ages and the idea of giving something back to our communities grows, Gift Planning becomes an important part of Estate Planning.