Are you contemplating the setting up of a private foundation? Wait!! Let’s talk first.
The Coquitlam Foundation is well positioned to save you a lot of time, money and effort. Through the creation of a Donor Advised Fund you can achieve what you hope to do through a private foundation. It helps you become part of the giving heart of Coquitlam, creates a lasting legacy, addresses the cause you wish to address but removes the onerous requires of managing a private foundation. Let us do the work you would do in a private foundation while you can still achieve your philanthropic goals.
When creating a donor advised fund, the Coquitlam Foundation takes care of the administrative work while you focus on giving back to the community. Like other Canadian foundation, the Coquitlam Foundation may donate to other charities, the donor just has to advice the Foundation which charity is to receive their gift.
All you need to establish a fund is an initial investment of $10,000, however, the Foundation allows for a fund to be established over four years with an initial investment of $2,500. During the next four years, the interest generated is reinvested in the fund and no awarded. No award is possible until $10,000 is reached. Should the required $10,000 not be reached within that four years the amount in the fund is placed in the Coquitlam Foundation’s general fund, which focuses on several charitable causes.
Let us help you get started. Contact our executive director at firstname.lastname@example.org and let’s meet to discuss your areas of interest, answer your questions and go over what is required to set up your donor-advised fund to start your charitable heart of giving in Coquitlam.