An endowment is a permanent fund–the capital donated remains in the fund and the investment income is available to the donor for grants. Since only the income is used, a gift ensures that a permanent legacy in your name will exist in perpetuity. Grants from endowment fund are distributed annually to designated charities according to the instructions provided by the donor when the Fund is established.
An Endowment Fund can help you optimize your financial, tax and estate plans while building permanent resources for the community. We work closely with you to define your wishes. Then, you can rest assured knowing we will manage your funds with care and distribute them in keeping with your intentions.
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Advantages of an Endowment Fund
- Establish a permanent legacy in your name or in the name of a loved one.
- Support the Jewish community and the community at large for generations.
- Qualify for significant tax advantages.
- Connect future generations of your family to the causes that are important to you. You can pass on to your children the right to recommend distributions from your fund. Grants issued from that fund will carry your family’s name now and for the next generation.
- It’s a gift that can keep on growing. Once it’s established, anyone can make tax-deductible contributions to your fund at any time, in any amount.
- You will receive an annual statement of your fund’s activity, including contributions, distributions and investment results.
- Enjoy the peace of mind you get knowing that your Endowment Fund will be professionally managed and that your charitable intent will be fulfilled.
Because your fund is permanent
- Every contribution increases its capital. Every dollar makes a difference, now and in the future.
- Every gift keeps on giving forever.
How to Create an Endowment Fund
You can open an Endowment Fund at the JCFC with a minimum initial contribution of just $1,000 in the form of cash, marketable securities, or certain other assets. There are no set-up fees at the Jewish Community Foundation of Calgary.
Begin to make grants when the fund reaches $5000.00
Your fund will be pooled with other funds held by the Foundation and professionally managed according a conservative mandate under the oversight of our investment committee. Your fund will receive its pro-rated share of the income generated by our pooled funds, and be charged a pro-rated share of our annual administrative expenses. Income and fees are based on the value of the assets in your fund.
You can transfer assets to the Foundation as a direct gift during your lifetime or upon your passing with a bequest, through your will or trust. Or both.
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