An endowment fund is a permanently invested sum of money whose income is distributed to charitable causes, generally at a rate of 4% per year.
The WindsorEssex Community Foundation assets are held in separate endowment funds established by local individuals, families, businesses and charitable organizations. Each fund may have a special purpose, but the Foundation's board of directors representing the community, oversees them all.
Responsibility for the Foundation's investment portfolio is vested in the Board of Directors with the guidance of the Finance Committee. The Finance Committee works closely with professional staff and investment advisors to recommend policy, establish performance benchmarks and monitor the performance of the portfolio.
Donations to The WindsorEssex Community Foundation are generally used to establish one or more of several types of funds, any of which can bear the name of an individual, family, corporation or charitable cause; or the fund can be anonymous. Please see Establishing a Fund for more information.
It's easy to donate right now. You can choose the Community Fund, our community endowment that responds to the community's greatest needs or specify an existing named fund. A charitable tax receipt is issued at the time the gift is received.
A minimum amount is required when establishing a fund and is set out in the terms of the fund's written agreement with the donor.
The process is very simple and can be done in a matter of hours. It entails choosing a name for your fund, focusing your fund's impact, completing a fund agreement and then making your gift to The WindsorEssex Community Foundation.
You can even establish a fund quickly, obtain a tax receipt for the contributed amount and then decide later where to focus your giving from the fund.
Because we manage a number of funds, administrative and service fees are lower due to economies of scale. There is no tax on the capital gain of gifts of publicly-listed securities to the Foundation.
Our services include fund investment and management, regular financial reporting to donors, handing all governmental reporting requirements, community knowledge, facilitating granting and ensuring accountability, acknowledging and receipting contributions, fund stewardship and audit services, planned giving and family philanthropy expertise.
The WindsorEssex Community Foundation works regularly with professional advisors to support and guide donors in the philanthropic process. We encourage you to include any of your advisors as you consider giving to the Foundation.
Yes, anonymous gifts are welcomed by The WindsorEssex Community Foundation.
Donors are protected from unwanted solicitations - we do not share donor information with other organizations.
No, we are a resource for them. We hold and manage many of their endowment funds and make grants to them. We link donors with a wide range of community organizations and encourage gifts to all kinds of causes and charities. We work collaboratively with other funders and grantmakers to help serve the needs of the whole community.
Both are important resources to the community. The United Way raises and distributes money yearly through an annual campaign, while a community foundation distributes a portion of its annual investment returns from permanent funds endowed in perpetuity. While the United Way generally focuses it's funding on health and human services our focus broadly includes a full range of community interests such as the environment and arts, culture and heritage.
Many of your clients are searching for an effective way to give back to their community, to memorialize a loved one and/or simply to "do good". You can help them achieve these results, and derive personal satisfaction from doing so. For 9 more reasons to discuss philanthropy with your client view our Ten Reasons for Discussing Philanthropy page
Cash, Appreciated securities, Bequests, Real Estate, Life insurance, and Charitable remainder trusts are all acceptable. Consult our Charitable Gift Matrix for more information about gift examples and benefits.
Canada's maximum combined tax rates for incomes greater than $126,264 range from 39% (Alberta) to 48.25% (Quebec). The donation tax credit available for charitable gifts is 15% on the first $200 and the individual's tax rate for those gift amounts above $200, up to a maximum of 75% of the donor's annual income.
Applications which demonstrate one or more of the following characteristics are more likely to meet with success:
- Involve collaboration and partnerships.
- Build on existing community strengths and assets.
- Respond to clearly identified local needs.
- Strive for a significant and lasting impact on our community.
- Benefit a wide audience.
- Use resources efficiently and effectively.
- Show innovation, creativity and a degree of risk.
According to Canada Revenue Agency (CRA) a Community Foundation can only provide grants to Registered Charities, Registered Amateur Athletic Associations and Municipalities. Non-profits wishing to apply for a grant will need to secure an intermediary organization that meets this criteria. Funds would then be paid out to the intermediary, ear-marked for the non-profit, and the intermediary would forward the funds on. There are further criteria which the intermediary will need to meet. Please contact our Grants staff to discuss this further.
Religious organizations are welcome to apply for grant funding for projects with are non-sectarian in nature, are open to the general public and will make a positive impact upon the greater community. We do not fund religious, sectarian or political activities.
