Comparison of Community Foundations
How are Canada Gives DAF’s Different
Community Foundations in Canada introduced donor advised funds as early as 1921. They provide a valuable service to many donors, but are distinctly different from Canada Gives Foundation accounts.
Many of our donors fund community foundations from their Canada Gives Foundation account as part of a larger philanthropic strategy.
|Community foundations are registered with their own charitable mandate and are required to provide funding support to charities, within their specified community.|
|Gifts are pooled together and invested by the Community foundation.|
|Community foundations pre-determine the allocation to long-term or endowment funding.|
|The Community foundation will determine how much to disburse (grant) to charities each year from the DAF accounts.|
|Individual DAFs may be consolidated into the Community foundation after a period of time.|
|Canada Gives is registered to support any registered Canadian charity, so donors using our DAFS are not restricted in their focus.|
|At Canada Gives, your gifts are held in a separate account, and you can select the investment manager or advisor to manage these assets.|
|At Canada Gives, the donor can make this choice and it can be different with every donation.|
|At Canada Gives, we calculate the minimum that is required by the CRA to give away each year, as well as providing a suggested maximum based on the prior year’s total investment returns. The donor decides how much to grant as well as which charities should receive the gifts.|
|A Canada Gives Foundation account can continue in your name through your Executor or Successor.|