An endowment or Forever Fund is where money is pooled and permanently invested as capital and the annual interest earned is used for charitable purposes through a grant making process.
Establishing an endowment is free of charge and allows donors to support Southern Alberta’s needs in a lasting way while suiting the donor’s wishes. With considerable Tax benefits, an Endowment Fund can be an important part of your overall financial plan.
Anyone can establish and maintain an endowment or Forever Fund. It is a simple process that does not require great wealth.
The Foundation provides the Customized services needed to create a fund which reflects the donors’ values, interests and charitable goals. The Foundation handles all the administration of the Forever Fund, including tax receipts, grants to charities and financial reports.
There are many types of funds available.
Where large and small gifts are combined. Income is distributed through a Grant process. This fund ensures that the changing needs of the community are addressed in a timely manner. Named funds can be established with a $1000 gift.
Choose a favourite registered charitable organization and each year the income flows to that organization. This fund is available with a minimum gift of $5,000.
Field of Interest Fund
The Foundation directs the earnings from the fund to a particular area of interest; ie. the arts, youth, seniors, the environment, etc. This fund is available with a minimum gift of $10,000.
Donor Advised Fund
Donors advise the Foundation each year as to which charitable organizations are to benefit from the income from their fund. This fund allows the opportunity to change focus every year. This gift is available with a minimum gift of $15,000.
Scholarships allow donors to make lasting gifts recognizing student potential. The scholarship funds provided are directed to the college or university of the student’s choice (some restrictions do apply to this type of fund). This fund is available with a minimum gift of $15000.
The Community Foundation of Southeastern Alberta encourages charitable organizations to establish an endowment fund which produces stable, long-term cash flow.
Office hours: 8:30am – 4:30pm
104, 430 – 6th Avenue S.E.
Medicine Hat, Alberta T1A 2S8
Phone: (403) 527 9038
Fax: (403) 527 9204
Charitable Registration Number 136030285RR0001