If my client wants to establish a fund with the Coquitlam Foundation through a gift in a will, do I or my client need to contact the Foundation?
First and foremost, we respect your clients right to privacy around their giving intentions. However, there have been instances when the gift cannot be accepted for various reasons. In order to avoid that unfortunate circumstancethere are two options:
- You can contact us to ensure either the gift or the intended use of the gift is appropriate.
- We can establish an estate fund for an initial investment of $1,000 which allows us to work with you and your client to ensure the intended purpose of the gift is clear and there are potential recipients of the gift. This allows your client to simply the Coquitlam Foundation and the fund name as the intended recipient of the gift in the will.
Contact the Foundation’s Executive Director at firstname.lastname@example.org.
If my client is considering a bequest to the Coquitlam Foundation, but is unsure of the intention of their gift, is there a way to establish something now, that they can change later?
Yes, we have the ability for a client of yours to establish an estate fund with an initial investment of $1,000. This allows your client to spell out the intended use of the bequest but adjust it later if they so desire.
While my client’s wish is to leave a bequest to the Coquitlam Foundation, they would also like to involve family in their giving. Is this possible?
The Coquitlam Foundation has a fund called a “Donor-advised” fund. It is possible to set up an estate fund to act exactly like a donor-advised fund enabling your client’s family to be involved in the ongoing philanthropic wishes of your client. Contact the Foundation’s Executive Director at email@example.com.
Can the Coquitlam Foundation serve as an executor of a donor’s estate, or a trustee of charitable remainder trusts or an annuity?
No. Foundation does not allow us to act as an executor. We can work with you and your clients to develop an estate fund explaining how a planned gift will be used. In the case of an annuity, we would recommend working with an insurance company.
How can the Coquitlam Foundation assist my clients’ estate planning?
The Coquitlam Foundation can work closely with you and your clients on planned gifts of all types. We can ensure that the planned gifts are acceptable by the Foundation and that the philanthropic intentions of your client are clearly understood and met. If your client wishes, we can establish an estate fund to document the planned giving.
Does the Coquitlam Foundation charge a fee and if it does, how much is it?
In order to sustain itself, the Coquitlam Foundation charges all funds a small fee. The fee includes a 0.5% fee to cover the investment management fee and the general administrative fee is set in our Fee Policy (LINK TO FEE POLICY).
What guidance does the Coquitlam Foundation follow in the investment of its endowment fund?
The Coquitlam Foundation has a very conservative Investment Policy (LINK TO INVESTMENT POLICY) which guides the fund manager to direct our pooled endowment fund. The investment objectives for this fund are to protect the purchasing power of contributed capital through capital appreciation and provide an income return to fund charitable activities.
What is the best way to get my clients started?
The Coquitlam Foundation can help you with various options for gifts and fund types to consider along with the development of your client’s charitable interests. The goal is to ensure your clients philanthropic goals are achieved. Contact the Foundation’s Executive Director at firstname.lastname@example.org.
What, if any, services dos the Coquitlam Foundation offer professional advisors?
Our goal is to meet your client’s philanthropic wishes while remaining compliant with CRA rules. We can ensure the two are compatible. We have the ability to establish a fund that meets your clients charitable giving plan. Should you believe it beneficial, we can meet with you, your client and their family to discuss their philanthropic wish.
Why should my client establish a fund with the Coquitlam Foundation rather then creating a private foundation?
The administration of a foundation, whether it is a private foundation or community foundation can be extensive. The Coquitlam Foundation has over 25 years of experience in this area and takes care of all that work. There are also a lot of costs to establish a private foundation, while creating a fund with the Coquitlam Foundation enables 100% of your client’s donation to go towards their philanthropic cause.
Why should my client establish a fund with the Coquitlam Foundation rather than a commercial gift fund (such as TD Waterhouse Private Giving Foundation, RBC DS Charitable Gift Program, etc.)?
The Coquitlam Foundation is a local community foundation that allows for your client to choose from a wider variety of options in the establishment of their fund from how much they want to be involved in the granting process to what their philanthropic focus should be. We have a relationship with the local non-profit organizations and the community at large and can help your client focus their giving heart to the required needs in Coquitlam.