It’s true. A number of local leaders have come together to establish a community foundation for our area. Would you or someone you know like to be a part of these efforts?
The goal of the community foundation is to use philanthropy to address specific needs of our people and communities which are currently going unmet.
The Community Foundation of Kawartha Lakes will be a unique and exciting organization full of hope to help people and build our local communities in new and innovative ways.
Community foundations help Canadians invest in building strong and resilient communities in unique and innovate ways.
Community foundations link donors with specific community needs. Community foundations manage long-term endowment funds from which to give grants to existing causes as well.
There are more than 190 community foundations in 85% of communities across Canada, with almost $5 billion in endowment assets under management.
There is currently a Leadership Team of a dozen local community leaders in place to work on establishing a community foundation for Kawartha Lakes.
Leadership Team members have expertise in business, financial services, project management, community engagement, municipal government, and not-for-profit, corporate governance. All members of the team have extensive knowledge of our communities through long-time volunteering. Would you like a list of the people involved?
All community foundations are supported by a national organization: Community Foundations of Canada.
Community Canada has extensive organizational resources and represents the more than 190 community foundations across Canada from which we can draw on so we don’t need to re-invent the wheel.
The local Leadership Team setting up the Community Foundation of Kawartha Lakes is made up of a dozen community leaders with expertise, experience and energy needed to make it a great success.
The Community Foundation of Kawartha Lakes will be unique in that it will raise money to address long-time identified “gaps” in our communities for which we do not have existing charities to address.
Using innovation mechanism including social enterprise(s), start-up funds, and micro-credit, a community foundation can do many things – and experiment in ways – that existing charities simply cannot.
Given its focus on endowments and professional financial management, existing local charities may wish the community foundation to administer funds so they can focus on their main work.
No. The Community Foundation of Kawartha Lakes is being formed to address vital needs of our people and in our communities that are specifically not being adequately funded or addressed currently.
Community foundations have the flexibility to act – and experiment – in ways existing charities may not be able to under their mandates. We can also manage endowments for existing charities.
The Leadership Team has been in consultations with local existing charities, especially the United Way, since the beginning to ensure there is no duplication.
This is a myth. There is plenty of capacity here in our area for substantial donations. Many people retiring in our area are still giving to charities in Toronto, for example, rather than here locally.
The community foundation will be grant funded and raise funds by cultivating relationships and providing opportunities with major donors, so will not be competing with existing fundraising events.
Community foundations move giving cultures from fundraising to philanthropy, thereby making the funding pie bigger for all. We will refer donors to existing local charities, where appropriate.
Community foundations provide donors with opportunities to make a difference in areas that matter to them, rather than simply giving to an existing cause, focusing largely on local economic development.
The Kawartha Lakes Community Foundation uniqueness also lies in the fact that it will be addressing vital needs in social services and community infrastructure not currently being funded.
Community foundations are comprised largely of leading business and financial services professionals. Highly-competent asset management is a hallmark of community foundations.
The Community Foundation of Kawartha Lakes will provide donors with opportunities to make a difference in areas that matter to them where vital needs in our communities exist that are not being funded.
These vital areas include: the environment; the arts; healthcare; workforce development including youth innovation and mentorship; capital for new farmers; housing stock and rural transportation.
The specific areas of focus for the community foundation reflect the charitable purposes for which tax receipts may be given for donations under the Canada Income Tax Act.
This is a good point. Regardless of your political view, the reality is that governments at all levels are saying they have no money. Meanwhile, peoples’ and communities’ unmet needs remain.
Until the public purse is replenished, “gaps” in social services and infrastructure must be addressed somehow to improve peoples’ quality of life and build our communities.
Local philanthropy is an enduring way of providing for each other and our communities when governments will not or cannot act.
We plan to submit the application to incorporate the Community Foundation of Kawartha Lakes to the Ministry by November.
The Community Foundation of Kawartha Lakes will be a registered charity able to issue tax receipts for donations. Obtaining charitable status from the government can take some time.
We anticipate the Community Foundation of Kawartha Lakes to e founded early in 2017 as a gift to our community celebrating Canada’s 150th birthday that year.
The Board of Directors will be comprised mainly of leading business owners and financial services professionals from across the City, as well as some local community leaders and municipal officials.
Specific efforts will be undertaken to recruit founding Board members from all the communities in Kawartha Lakes. Would you or someone you know be interested in serving on the Board?
We plan to hold an informal meeting of the first Board members before Christmas, with their official start being the date the community foundation is incorporated early in 2017.
We have costed the start-up cost of the community foundation to be $362,550 over the first three years of its operation.
This amount includes a full-time, professional Executive Director, insurance and basic supplies including advertising and social media tools (e.g. website, etc.).
Community Foundations of Canada has been clear that dedicated staff and sufficient resources from the start are key to the long-term success of community foundations.
The Community Foundation of Kawartha Lakes provides you with the unique opportunities to contribute to identified “gaps” in our communities not currently being addressed by existing charities.
Donations may be made to the community foundation’s endowment which ensures long-term impact and a lasting personal legacy. All funds are managed by financial services professionals.
The Community Foundation is more than willing to link you with the other charities in our area with whom we collaborate to ensure the impact of your gift is maximized and best meet your wishes.
The Community Foundation of Kawartha Lakes is a registered charity. The government offers generous tax credits for donating to charity. For example, a gift of $100,000 may only cost you $53,650.
Tax benefits may depend on your income. We recommend that you consult with your financial advisor(s) to ensure you receive the best tax treatment possible. Would you like our tax benefits chart?
Tax benefits may also depend on the structure of your gift. You can donate almost any type of asset: cash, stocks, property structured as a trust, insurance policy, gift annuity, estate bequeath, IRA, etc.
Yes. We would be honored to help you. By establishing a fund at the Community Foundation of Kawartha Lakes during your lifetime, you lay the groundwork for creating a permanent legacy to charity.
There are two main giving options available at our community foundation. You can create a fund to address a specific local need or make an unrestricted donation as part of our community endowment.
The Community Foundation of Kawartha Lakes will have a professional staff and sophisticated financial services advisors to help you chose your option(s) and plan your gift.
Thank you for your commitment to the Community Foundation of Kawartha Lakes. We look forward to communicating with you!