Endowed Charitable Funds
Endowed Charitable Funds
Saskatoon Community Foundation’s charitable funds create a lasting legacy for you. Your legacy is as unique as you are, that is why the Foundation offers you the ability to ensure your story lives on. By working with our Philanthorpic Advisor, you are able to build your legacy giving to reflect you, your family, and your values.
“The Foundation has been near and dear to dad’s heart for a long time, and we were all very proud to support something that has meant so much to our parents.” Linda Shaw, daughter of the Hon. Sid Buckwold, on the Buckwold Family Fund established in honour of the 60th wedding anniversary of Sid & Clarice Buckwold in 1999.
TYPES OF CHARITABLE FUNDS
The income from Community Funds is not designated by the donor to any particular charity or field of interest. Instead, the donor allows Saskatoon Community Foundations Community Grants Committee the discretion to grant the income in the area of greatest need each year.
Smaller donations become part of the Saskatoon Fund, the core of the Saskatoon Community Foundation’s unrestricted Quality of Life Granting program.
Whether you grow your total donations over a number of years or with a single gift, once total gifts equal $5000.00 or more, you can establish an unrestricted Named Fund. Named funds can create your community legacy or memorialize a treasured member of the community. Community Funds allow the Board of Directors the maximum flexibility to respond to the changing community issues of the day. Remember, your gift lasts forever, so the most important issue facing the community today may not always be the top priority in the future. Any size fund can be unrestricted. Community Funds benefit over 100 charities every year.
WAYS TO GIVE TO A COMMUNITY FUND
An named or Family Fund can be established with a minimum contribution of $5,000 within one of the Community Funds at Saskatoon Community Foundation. The $5,000 minimum can be a one time donation or be donated over a period of time.
A Named or Family Fund gives families or individuals an opportunity to make a lasting contribution to the community. It creates a lasting family legacy, leaving behind a sense of who the donor was. A named or family fund encourages future generations to carry on the tradition of giving back to the community. Many of those who start a Fund have been long-time supporters of Saskatoon Community Foundation, often beginning their contributions through the Century Club.
Most of us want to make a difference in our community, for ourselves and for future generations. The Century Club provides an opportunity for you to participate in building our community as “everyday philanthropists.” The inspiration behind the Century Club was Ross Pinder, a long-time member of Saskatoon Community Foundation Board of Directors. He suggested the idea in 1982 as a means of recognizing Saskatoon’s 100th anniversary. It doesn’t take a lot to become a member of the Century Club, just $100 a year. Century Club donations, along with all smaller gifts, become part of our Saskatoon Fund, an unrestricted fund which is helping build a brighter future in Saskatoon by assisting roughly 100 charities annually.
“We like the idea that our gift keeps on giving. I was still a student when we joined, so we didn’t have a lot of disposal income. This was an easy way to establish a giving habit.” – Carolyn and Scott Bray
Memorial gifts to Saskatoon Community Foundation are a means of celebrating the lives of family, friends and colleagues. The Foundation is honoured to have been chosen as the vehicle through which the lives and achievements of remarkable individuals are recognized and remembered.
An In Tribute donation is an opportunity:
- to acknowledge a special relationship;
- to celebrate a birthday, wedding, or other milestone event;
- to say “thanks”;
- to make a special holiday really special, or
- to give the perfect gift.
Saskatoon Community Foundation will send a special card to the person you have chosen to honour. You will receive a prompt thank you and a tax receipt. In tribute gifts can be added to your existing family fund, or they will become part of the Saskatoon Fund, an unrestricted fund which is helping build a brighter future in Saskatoon by assisting roughly 100 charities annually.
Donor Designated Funds are established by donors to support one or more specific charitable organizations in perpetuity.
For cumulative gifts totaling over $10,000.00, donors can create Designated Funds. Designated Funds specify one or more charities as recipients of its grants in perpetuity. If you want to be sure that a particular charity or charities receive your support forever, a Designated Fund may be the right choice for you.
Field of Interest Funds are established by donors who wish to support a specific charitable field of interest, such as arts, education, health, family and community, or the environment. Based on the donor’s field of interest, the Foundation selects appropriate projects to support.
Donor Advised Funds enable donors to be actively involved each year in recommending recipient charities.
Donors seeking the maximum flexibility and control in directing the annual grants from their gifts may establish Donor-Advised Funds for cumulative gifts totaling $50,000.00 or more. Some donors give for a number of years in order to grow their funds to this level. Others may have the ability to create a Donor-Advised Fund with a single gift.
Once you establish your Donor-Advised Fund, the Saskatoon Community Foundation will contact you each year for your advice on how to disburse the grants from your fund.
- Continue supporting a favourite charity over many years with a proportion, while finding new organizations to help each year with the remainder.
- Alternate from year to year between two or more preferred charities.
- Work with SCF staff to find the area of greatest need each year.
- Allocate it to a Community Fund and allow the Community Grants Committee to use the funds towards grant applications focused on the current pressing issues of the community, which may change from year to year.
Your choice. Setting up your fund is about what you want your gift to do, we are here to help make this your legacy.
To discuss more on the ways you can leave your legacy, contact Jen Pederson CFRE, Philanthropic Advisor 306.665.9880 or email firstname.lastname@example.org