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What is a Charitable Gift Fund?
A donor makes an irrevocable contribution (minimum $25,000) to the Charitable Gift Funds Canada Foundation to create a charitable gift fund (also known as a donor-advised fund).
The donor recommends an investment strategy from among the approved, prudent investment options available through their professional advisor, financial service provider, wealth management firm or the CGFCF. The Foundation invests the donation into investment funds using the donor’s professional advisor, financial service provider, wealth management firm or the Foundation's generic investment fund. In most cases, the funds become family endowments that carry on for generations with successive family member advisors.
The donor may make grant recommendations for their preferred charitable organizations to the Foundation. CGFCF is an organization that promotes grants to the widest possible variety of charities across Canada as long as these charities are registered with Canada Revenue Agency (CRA) and meet the Foundation's standards.
When a charitable gift fund is established with CGFCF, a donor:
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Receives a donation receipt for the full amount of their contribution
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Recommends an investment strategy for their Charitable Gift Fund
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Recommends grants from the fund’s profits to charities of their choice at their convenience
- Turns over all administrative paperwork to CGFCF.
CGFCF works with donors and their wealth management, legal and financial advisors to balance their philanthropic goals with their estate planning and financial needs.
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A Charitable Gift Fund enables philanthropically-minded individuals to plan their charitable giving and maximize its impact.
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