Creating an endowment fund

With the CBT, it’s possible to give back to your community now and leave a legacy for the future as well. We work with you to set up a philanthropic endowment fund. We help you put aside money that will be used for the charity or project of your choice.

Many families choose the CBT as an alternative to setting up a private foundation because of our connections to the community, and because it’s easier administratively. Then you can then focus on the most fulfilling part — giving.

Here are the basic steps we take to establish an endowment fund:

1. DISCUSSION

The CBT wants to understand your philanthropic goals and wishes. We would like to be clear about the purpose of your gift, the type (such as cheque or bequest) and amount of the gift, the amount of ongoing involvement you wish to have, and the type of recognition you wish to receive. This information will help us to document your gift appropriately.

2. DOCUMENTATION

Once we understand your goals, we will draft a deed of gift for your review. This written agreement sets out the purpose of the fund, the responsibilities of the CBT, and any specific requirements relative to your gift. The wording has been designed to meet the Canada Revenue Agency’s requirements for charitable giving. You will receive a copy of the draft fund deed for your approval and we will be ready to accept your financial gift and issue a charitable tax receipt. The deed will then be approved by the CBT Board and you will be provided with a copy of the approved deed for your records. The CBT will also maintain a copy.

If you have questions about leaving a lasting legacy, whether by contributing to a fund or starting your own, Rebecca Hurwitz, our executive director would be pleased to meet with you.