Want to Set Up a Fund with CFKA?
1. When would you like the fund to start granting?
Do you want your fund to be established:
- Now (and you can start giving grants and seeing impact right away)
- Over time, through contributions
- Later, through your estate
2. What type of fund would you like to establish?
Pick the Type of Fund based on what you would like to support and how involved in the annual decision making you want to be. We have a variety of fund types to choose from, and we can help you pick the one that is right for you based on your interests.
3. How long would you like the fund to last?
Option 1: A traditional endowment fund– a ‘forever fund’ where only a percentage of annual earnings will be spent:
| Traditional Endowment Funds | Minimum Gift to Establish Fund | Administrative Fee |
| Operating Fund (supports CFKA) | $10,000 | 0.0% |
| Community Fund | $10,000 | 1.5% |
| Field of Interest Fund | $10,000 | 1.5% |
| Donor Designated Fund | $10,000 | 1.5% |
| Donor Advised Fund | $25,000 | 1.5% |
Option 2: Our new ‘enhanced spending’ option– a spend down fund which will draw down the capital of your fund over time; so it won’t last forever, but it will grant more money out each year at twice the approved rate of traditional endowment funds (while still lasting a long time):
| Enhanced Spending Funds | Minimum Gift to Establish Fund | Administrative Fee |
| Community Fund | $25,000 | 1.5% |
| Field of Interest Fund | $25,000 | 1.5% |
| Donor Designated Fund | $25,000 | 1.5% |
| Donor Advised Fund | $50,000 | 1.5% |
4. How would you like to donate to the fund?
- You can choose any number of financial tools to establish and grow a fund, including: cheque, credit card, public securities, life insurance, or charitable bequest.
- Many of our donors establish funds with gifts during their lifetimes and also make provisions through estate planning to further build the fund’s capital.
- Your gift can be one time, or pledged over a period of time (monthly or annually).
- Creation of a fund with CFKA requires the minimum for a named fund ($10,000- $50,000) within five (5) years. You decide how much you want to give over what period of time.
- The investment approach used by CFKA is a passive-based approach that tracks broad market indices. We have chosen this approach because it is a very low cost approach to investing, which keeps more money in our endowment funds, and we mitigate company-specific risk by spreading our risk amongst all the company participants in the indices we use.
Resources
PDF – Setting Up a Fund With the Community Foundation for Kingston & Area
PDF – Kingston Life Insert: Want to Make a Difference in Your Community?
Managing Funds at CFKA: Investment Policy, Fund Admininistration Fees Policy, and Spending Policy
PDF – Investment Returns & Investment Commitee Members
Contact Us
For further information about establishing an endowment fund, please contact Stacy Kelly, Executive Director, at ed@cfka.org or 613.546.9696, Ext. 102
We are grateful for all gifts to the Foundation and would be happy to speak with you about your charitable giving goals.
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275 Ontario Street Suite #100
Kingston, ON K7K 2X5
Phone: 613.546.9696
Fax: 613.531.9238
Email: info@cfka.org
Donate
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.
Cheque
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.
Publicly-Traded Securities
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.
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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 giving@cfka.org if you need any further assistance.