The Rotary Club of West Edmonton Fund
Posted by Michel Dorais
Our Cub has established what is known as a "Donor Advised Fund" with the Edmonton Community Foundation. As of December 31, 2005, this fund has a balance of approximately $84,000.00.
Any member or friend of the Rotary Club of Edmonton West can make a donation to this fund, and the donor will receive a charitable donation receipt from the Edmonton Community Foundation. If members donate the $16,000 necessary to raise our total to $100,000, an anonymous donor has agreed to donate a bonus of $5,000. Please consider donating all or some portion of your recently received Alberta 2005 Resource Rebate to this fund.
Any member or friend of the Rotary Club of Edmonton West can make a donation to this fund, and the donor will receive a charitable donation receipt from the Edmonton Community Foundation. If members donate the $16,000 necessary to raise our total to $100,000, an anonymous donor has agreed to donate a bonus of $5,000. Please consider donating all or some portion of your recently received Alberta 2005 Resource Rebate to this fund.
With a Donor Advised Fund, the Donor, in this case, the Rotary Club, can provide annual advice and recommendations to the Foundation about which charitable programs they wish to have their fund support. It is very much like a private foundation, only with less cost and administrative work for the donor organization.
The Edmonton Community Foundation invests and manages the funds in a pooled manner with the many other funds under their jurisdiction. Since inception (1989), they have an annualised return of 8.73%. Their 2005 return was 11.34%. At this rate, our fund should double in value in six and one-half years even if no more contributions are made.
But, why not make this one of your charitable donations for 2006? It is very easy to do - just contact Kathy Hawkesworth (member of Rotary Club of Edmonton), Director of Donor Services, Edmonton Community Foundation at 426-0015, or send her an e-mail at info@ecfoundation.org or check out their website at www.ecfoundation.org.
You can also make out a cheque to "The Edmonton Community Foundation", and give it to Michel Dorais.
If you are about to sell some shares where you will incur a capital gain, consider instead donating those shares to the Rotary Club of West Edmonton Fund. Instead of paying tax on 50% of your capital gain, the tax on your capital gain will be reduced to zero (thanks to the Harper Government recent budget), but you will get credit for making a donation in the amount of the full proceeds of the sale of your shares. Many brokers will reduce or waive their normal fees when you make arrangements to sell your stock in this manner. Check it out! If you want to sell some shares which are losers, sell the shares first, claim the capital loss, and then donate the proceeds in the form of cash.
The Edmonton Community Foundation invests and manages the funds in a pooled manner with the many other funds under their jurisdiction. Since inception (1989), they have an annualised return of 8.73%. Their 2005 return was 11.34%. At this rate, our fund should double in value in six and one-half years even if no more contributions are made.
But, why not make this one of your charitable donations for 2006? It is very easy to do - just contact Kathy Hawkesworth (member of Rotary Club of Edmonton), Director of Donor Services, Edmonton Community Foundation at 426-0015, or send her an e-mail at info@ecfoundation.org or check out their website at www.ecfoundation.org.
You can also make out a cheque to "The Edmonton Community Foundation", and give it to Michel Dorais.
If you are about to sell some shares where you will incur a capital gain, consider instead donating those shares to the Rotary Club of West Edmonton Fund. Instead of paying tax on 50% of your capital gain, the tax on your capital gain will be reduced to zero (thanks to the Harper Government recent budget), but you will get credit for making a donation in the amount of the full proceeds of the sale of your shares. Many brokers will reduce or waive their normal fees when you make arrangements to sell your stock in this manner. Check it out! If you want to sell some shares which are losers, sell the shares first, claim the capital loss, and then donate the proceeds in the form of cash.