Board Updates 2021
The Community Foundation welcomes three new Board members
Welcome to our new Board members! Willa Henry, Donna Armstrong Segal, and Roger Wilson have all joined the Community Foundation’s Board of Directors – bringing their passion, expertise and unique experience to the positions. You can read their bios by clicking the link below.
Rob Wood has assumed the role of Chair of the Board, taking over from Gayle Barr, who moves into the role of Past Chair.
Rob has been a valued member of the Foundation since 2018 and has previously served as Vice-Chair and as a member of various CFKA committees.
Ian Gemmill will also be joining the Executive team, taking on the role of Vice-Chair after serving three years on the Board.
Further to these meaningful additions, we bid farewell to three of our esteemed Board members. Thank you to Sue Bates, Julie Burch, and Richard Kizell for your many contributions to the Foundation and your continued commitment to serving Kingston and surrounding areas.
The 2021-2022 CFKA Board of Directors is:
• Rob Wood, Chair
• Gayle Barr, Past Chair
• Ian Gemmill, Vice-Chair
• Jonathan Warren, Treasurer
• George Wright, Secretary
• Chris Chard, Director
• Peter Finnegan, Director
• Willa Henry, Director
• Kalen Ingram, Director
• Monica LaBarge, Director
• Donna Armstrong Segal, Director
• George Thomson, Director
• Roger Wilson, Director
To learn more about the CFKA Board of Directors and read their bios, visit https://www.cfka.org/board/
When you give to the Community Foundation you can have confidence that your community will continue to benefit from your gift for many years to come.
2023 Year End Tax Tips
Both the federal and provincial governments offer donations tax credits that, in combination, can result in tax savings of up to 55% of the value of your gift in 2023, depending on your province or territory of residence. With total cash donations up to $200 in a year, the federal donation credit is 15% of the donation amount. For total donations exceeding $200 in a year, the federal donation credit jumps to 29% (33% to the extent taxable income exceeds $235,675) of the donation amount. Provincial donation credits are also available and the total credit may be up to 55% once total annual donations exceed the $200 in a calendar year.
December 31 is the last day to make a donation and get a tax receipt for 2023. You can help a wide range of charities with a single gift to our endowed Community Fund, support your favourite charity or cause by giving to one of our over 225 funds, or establish your own fund.
Credit Card or VISA Debit Card
If you’re ready to make your gift now, then use our secure online giving page. You have the option of choosing any one of our funds, giving ‘in memory of/in honour of’ instructions, and more. Or, if you prefer, you can simply call 613-546-9696 to make your donation over the phone using your Visa, MasterCard, or AMEX, or VISA Debit card. You can make a one-time gift, or sign up to make a regular monthly donation.
Please make your cheque payable to Community Foundation for Kingston & Area (or “CFKA”), and write your intended fund in the memo line. Drop it off or mail to: 275 Ontario Street, Suite #100, Kingston, ON, K7K 2X5.
Gifting publicly-traded securities, including mutual funds and segregated funds, with accrued capital gains “in-kind” to a registered charity or a foundation not only entitles you to a tax receipt for the fair market value of the security being donated, it eliminates capital gains tax too. You should plan gifts in-kind well before year end, to allow for sufficient time to make arrangements. A gift of publicly-traded securities is the transfer of ownership of stocks or bonds to the Community Foundation for Kingston & Area. If you own shares that have increased in value, 50 per cent of the capital gains are taxable. However, if you donate these shares in-kind to CFKA, the gain is tax-exempt. Learn more.
Form 1: Direction to Transfer Securities or Mutual Funds Electronically as a Charitable Donation Complete Form 1 to give your financial advisor/broker the instructions to make the gift to CFKA. The form contains all the information your advisor will need to make the transfer. They will then submit this form to our broker at CIBC Wood Gundy to advise that the transfer is pending.
Form 2: Notice of Transfer of Securities
Complete Form 2 and send it to CFKA to advise us of your gift, and instruct as to what you would like your donation to support.
Your AMT may be higher in 2024 (compared to 2023) if your taxable income is over about $173,000, and you have income taxed at lower rates than ordinary income, or deductions or credits that reduce taxes payable, including: Capital gains, Stock options, Canadian dividends, Unused non-capital losses, net capital losses, or limited partnership losses from prior years, and Non-refundable tax credits, including the donation tax credit. Speak to your tax profession to see how AMT could affect your situation in 2024, and, if appropriate, to consider triggering a gain or exercising employee stock options.
Contact us at 613.546.9696 or firstname.lastname@example.org if you need any further assistance.