Choosing a type of fund
There are four broad classes of funds to choose from when creating your legacy. We can help you choose the right funds to address your requirements, as well as your family’s philanthropic goals.
Unrestricted Funds - Respond to emerging needs in perpetuity
Unrestricted funds are made available to the community through the Foundation’s unrestricted granting process to support deserving projects and identified needs within the community in the Lower Mainland. Every year agencies apply to the Foundation for funding for innovative, start-up and capital projects. The grant applications are carefully reviewed and assessed by our grant committee. Funds are then allocated to benefit a wide range of worthwhile projects reflecting broad community interests and needs. Distributions occur when assets in the fund reach $5,000.
Philanthropic Funds – Decide in each year which charities to support
These are ‘donor-advised’ funds. They offer you the ability to engage in hands-on philanthropy by allowing you to make annual recommendations during your lifetime as to how your fund’s distributable income should be directed to the community. You can recommend a distribution to any charitable organization of your choice - Jewish and non-Jewish alike. Upon your passing, a successor of your choosing, which may include a family member, can carry on this important legacy. Distributions occur when the assets in the fund reach $10,000.
Designated Funds – Designate in advance which causes to sustain
Designated funds give you the option of choosing at the outset which organization(s) you wish to support in perpetuity. Distributions occur when the assets in the fund reach $10,000.
Throw yourself into passionate philanthropy.