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We bring people together to build a lasting legacy for the communities of Newfoundland and Labrador.
Are you passionate about a cause? We can help you, your family, or your business to set up an endowment fund that will be a permanent community resource. Your gift is invested, and the interest earned on your fund each year is used to make an annual grant to a cause of your choice.
Your fund can support charities working in a field that you care about, community initiatives in your hometown, or a scholarship that can be taken to any university or college in Canada. For more details on fund types, click here. Or tell us your philanthropic interests and priorities, and we will advise you on the best fund arrangement for you.
As an alternative to setting up your own fund, anyone can donate to our Smart & Caring Community Fund. Every fall, grants from this fund are awarded to grassroots projects across the province in the areas of social welfare, health, arts and heritage, education, environment, and community capacity. Because of its open application process, the Community Fund allows us to respond to changing community needs and to support new initiatives that have the potential to make a big impact.
Finally, we gratefully accept donations to our Operating Fund. This fund enables us to produce Newfoundland and Labrador’s Vital Signs annual report, to do outreach to community organizations around the province, and to lead community convening initiatives on topics that matter to all of us, while keeping the administration fees on our endowment funds as low as possible.
Including a charitable gift in your will or estate plan is a way to:
Support your favourite cause(s) in perpetuity
Leave a lasting legacy in your or your family’s name
Significantly reduce your tax liability
Planned gifts can take a number of different forms. The list of options below is for your information and to help you start a conversation on this topic with your financial advisor. We are happy to speak with anyone interested in establishing a legacy fund so that we can explain your options and ensure that the fund will be managed according to your wishes.
Bequests: A bequest of cash or property is the most direct way to provide a planned gift to charity, and a bequest is usually fully tax deductible. You can also choose to make a residuary bequest by gifting any leftover assets after all other obligations are met, including debts, taxes, and other bequests.
Life Insurance: A life insurance policy that names the community foundation as the beneficiary can be a very effective way to ensure that you leave a substantial amount in your endowment, for the greatest possible impact. You receive a charitable tax deduction approximately equal to the policy’s cash value at the time the gift is made, and any annual premium that you pay thereafter is also tax deductible.
RRSPs or RRIFs: The community foundation can be named as the beneficiary on your retirement plan so that any remaining amount in the plan transfers to the foundation at the time of death. In return, the estate will receive a charitable receipt that will offset its other tax obligations. RRSPs are among the most heavily taxed portions of an estate, so this can be a great way to include community giving in your estate plan at minimal cost to your heirs.
Charitable Remainder Trust: You can place cash or property in a trust that pays an annual income to you (and/or another named beneficiary) for life and names the community foundation as a second beneficiary. After your death, the community foundation will receive the remainder of the trust to be placed into your legacy endowment.
An endowment fund is a powerful way to memorialize a loved one or to commemorate a special anniversary or event. Friends and family can be invited to make donations to the fund in lieu of other gifts, and the fund preserves the name of the loved one or occasion in perpetuity.
What can I donate?
Donations of all types are equally welcome. We are able to accept gifts of:
Annuities or other planned giving instruments
Appreciated property i.e. artwork
Cash equivalents i.e. treasury bills, GICs
Charitable remainder trusts
RRSPs or RRIFs
Transfers from an existing charitable trust, endowment, or private foundation
All donations are acknowledged with a charitable receipt for tax purposes in Canada.
Please note that individuals are not eligible to apply for our grants. If you are running a program that meets our grant criteria, you must partner with a registered charity or other qualified donee. Please click here [Link: Apply for a Grant] to learn more about our grant application process.