Enriching Our Community by Supporting the Visual Arts

Dec 16, 2021 | Featured, Foundation News/Updates

Enriching Our Community by Supporting the Visual Arts

Those of you who are familiar with The Kingston Prize will know that it is through the hard work, dedication, and passion of numerous volunteers that Kingston has become the base for a Canada-wide competition and exhibition tour for Canadian portrait painting and drawings. You may have attended some of their local exhibits at the Firehall Theatre in Gananoque (or you can check out their gallery on-line).

But they are about more than just the bi-annual competition. Through their educational programs, The Kingston Prize Association (TKPA) seeks to raise aesthetic taste, knowledge, understanding, and appreciation of the art of portraiture.

We are pleased to welcome TKPA to the growing list of charities we hold endowment funds for, in support of their vision and growth into the future.

“The Kingston Prize Association is delighted to be able to take advantage of the Community Foundation’s initiative. Like many arts organizations in Canada, we have had to alter course in many ways due to the pandemic. The new endowment fund will go a long way to help us bring our vision for portraiture in Canada to fruition,” said TKPA Board member Mary Davis Little.

The Kingston Portraiture Endowment Fund will support the ongoing work of The Kingston Prize Association and its work to advance excellence, awareness, and appreciation of Canadian visual art and artists through the genre of portraiture.

In addition to the up to $10,000 match offered by the Foundation, an anonymous donor has stepped up to offer an additional match, so every dollar raised for their fund by December 31st, 2021, will be matched twice. Your $100 donation becomes $300.

Supporting the arts enriches our lives and communities in meaningful ways.

We recognize the enormous challenges that arts organizations and other charities faced as we suffered through the pandemic, and that it is getting harder for charities to fundraise for critical operating funding.  While growing an endowment fund to a size where it contributes a meaningful amount takes time, the only way to get there is to start – and what better way to start than a chance to TRIPLE gifts!

Donations to The Kingston Portraiture Endowment Fund can be made in many convenient ways:

  • on-line through Canada Helps (see donate now button below);
  • by cheque payable to: Community Foundation for Kingston & Area
    with “Kingston Portraiture Fund” in the memo line;
  • by credit card, by calling the Foundation office at 613.546.9696;

or, for maximum tax advantage, gifts of appreciated securities (stocks, bonds, mutual funds). Please contact the Community Foundation office for details.


 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.

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.

Proposed Changes to Alternative Minimum Tax

Tax Element Current AMT Regime Proposed AMT Changes
Tax Rate and exception level 15% flat tax rate on an adjusted taxable income in excess of a $40,000 exemption 20.5% flat tax rate on an adjusted taxable income in excess of a $173,000 exemption
Calculating the adjusted taxable income for AMT purposes 100% of non-refundable tax credits included. 50% of non-refundable tax credits included.
Treatment of donations of publicly listed securities 0% of capital gains from donations of publicly listed securities included. 30% of capital gains from donations of publicly listed securities included.

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.


Community Foundation for Kingston & Area