Why create a Charitable Gift Fund rather than starting a private foundation?
A. Starting a private foundation in Canada can involve considerable start-up costs and ongoing administrative obligations and expenses, such as the annual filing of CRA public information returns. But one of the most important differences is the fact that donors can maintain anonymity in their charitable giving by working with the CGFCF. Creating a Charitable Gift Fund with the Foundation using appreciated securities will yield significant tax advantages, as any capital gain realized by making the gift will be fully exempt from taxation.
Related Questions
- Why establish a fund through the North Carolina Community Foundation? Why not establish a charitable trust through another institution?
- CHARITABLE GIFT FUND CONTRIBUTIONS Q. What is the minimum amount needed to create a Charitable Gift Fund?
- Can money from a foundations Donor Advised Fund (e.g. Charitable Gift Fund) pay a donors pledge?
