Opening a fund with The JCFC is easy – in most cases, a fund can become operational in less than 24 hours. This can be done by you or by your professional financial or legal advisor. You will receive a tax deduction at the time the fund is activated and whenever you make additional contributions to the fund.
A fund can be created within the JCFC with a minimum donation of $1000.
To get started on realizing your charitable giving vision, follow these simple steps.
1. Select the type of fund that best fulfills your charitable purpose and tax requirements.
There are a variety of fund types to choose from, all serving different needs.
You may be most interested in the immediate taxable benefits of a donor-advised flow through fund, in building a lasting legacy through a family endowment fund, or in realizing an income stream through a charitable remainder trust.
We can work with you and your financial and legal advisors to determine what type of fund will best fulfill your needs.
2. Complete a simple governing document.
Our staff will help you to complete an official document that makes your intentions clear. To complete the forms, you will need to know the following:
- The name of the fund. You are required to name your fund to distinguish it from the other donor funds managed by the JCFC. Fund names may take virtually any form – the donor’s name or family name, a cause-related name, or something else entirely. Donors may choose to remain anonymous when they make grants, but your fund will still need to be identified.
- The main contact for the fund will need to be listed for our records. It is best to establish an advisory committee with a chair and not more than five members to manage the fund in the event that your main contact for the fund is unable to do so. This helps protect the longevity of the fund.
- Your charitable purpose(s) or intent(s). This can range from highly specific – for example, an annual donation to your alma mater — to general in scope, such as “general charitable purposes” to be specified annually by the donor.
3. Activate the fund by making a gift.
If you will be donating cash, it’s as easy as sending in a check or using a credit card. If you are donating appreciated stocks, bonds or closely-held stock, our treasurer will guide you through the next steps. If your gift will be in the form of insurance, know that leaving a legacy that will help to support a cause that has touched your life in the years to come.
Once the fund is established, you can:
- Recommend grants to nonprofit organizations across Canada and throughout the world
- Add to the fund at any time, in any dollar amount, directly or through our tribute card program
- Specify how grant disbursements should acknowledged (make a grant using your fund’s name or choose to remain anonymous).
For more information contact us at
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