Working with professional advisors is at the heart of how the Comox Valley Community Foundation connects philanthropy to community needs and opportunities. Through our work with legal, accounting, financial and insurance professionals, we bring new ideas forward that can help broaden and deepen client relationships.
Giving back to the community through the Comox Valley Community Foundation is easy. Your clients can choose from a variety of giving options to best suit their philanthropic and financial goals. We will take care of the paperwork, give counsel on strategic giving and connect them with charitable organizations making a difference in our community.
We are here to help you make giving solutions easy for your clients with resources and advice about charitable giving.
How the Comox Valley Community Foundation can benefit you and your clients.
• We work as your partner. You stay in control of your client relationships – we’re here to help you provide a full range of services to your clients.
• We are experts on charitable giving. Whether it’s setting up a less costly alternative to a private foundation or putting together a complicated estate plan, we can tailor giving plans to meet your clients’ particular needs.
• We offer expert knowledge about our community, so we can help your clients be as effective as possible in their giving.
• We help you connect across generations. When you help families establish a Donor-Advised Fund with us, you and they can stay involved for generations.
• We help your clients donate a variety of assets, including cash, appreciated publicly traded securities, and real estate. These can be assets they give now or later as part of their estate plans.
Frequently Asked Questions
from Professional Advisors
How are community foundations different from commercial gift funds (such as the TD Waterhouse Private Giving Foundation, RBC DS Charitable Gift Program, etc.)?
The Comox Valley Community Foundation – a community foundation – offers a wider variety of fund options for a donor to choose from, ensuring they can have as much or as little involvement as they wish in the granting process. Also, we can provide personalized assistance in the areas of giving, community knowledge and expertise as well as draw on the professional advice of the Vancouver Foundation.
What are the differences between establishing a fund at the Comox Valley Community Foundation and creating a private foundation?
Establishing a fund at the Community Foundation is simpler and more cost-effective than establishing a private foundation. The ongoing administration of a private foundation is typically more costly and time-consuming than having a fund at a community foundation, which handles all administrative requirements.
Does the Comox Valley Community Foundation offer services to professional advisors?
The Community Foundation works closely with all types of professional advisors, including lawyers, accountants and investment planners. We can help you design a charitable giving plan that is customized to meet your clients’ needs. We offer assistance with your research questions, sample language for estate plans and fund agreements. We can also make tailored presentations for you and your colleagues on giving strategies, and if requested, we are able to personally meet with you and your clients.
How do I get my clients started?
For some initial information on charitable gift options you can contact the Comox Valley Community Foundation’s office, to discuss gift options and different fund types that best fit your clients’ charitable interests and financial situation. A client may establish a named fund with an initial gift of just $1,000 or more.
How does the Comox Valley Community Foundation invest the assets of a charitable fund?
The Foundation currently invests its assets with the Vancouver Foundation – which manages over $1 billion in assets. Their investment objectives, as are ours, are to protect the purchasing power of contributed capital through capital appreciation and provide an income return to fund charitable activities.
What are the Comox Valley Community Foundation’s fees?
The Foundation charges an annual administrative fee of 1.0% for most types of funds, except for Agency Funds which have an annual administrative fee of 0.5%.
Will I have to pay a fee to work with you?
No. The Foundation’s staff welcomes the opportunity to discuss a custom-tailored charitable giving plan for your clients at no charge.
How can the Comox Valley Community Foundation fit into my clients’ estate plans?
If requested, the Foundation will work closely with you and your clients to help facilitate planned gifts of all types. Establishing an endowment fund to support the community – either by specifically identifying a charity or a field of interest or having the flexibility for a fund to be used where it may be needed most – is one of the most philanthropic acts an individual or family can consider in their estate plans. We have the expertise to assist with all aspects of charitable giving, including letters of intent around planned gifts.
Will the Comox Valley Community Foundation serve as an executor of a donor’s estate?
No. Foundation policy does not allow us to act as an executor. We recommend donors appoint a qualified and capable organization or individual to administer their estate. We can work with you and your clients to develop a letter of intent as to how a planned gift will be used.
Will the Comox Valley Community Foundation serve as a trustee of charitable remainder trusts or an annuity?
No. Foundation policy does not allow for us to serve as a trustee in either the case of a charitable remainder trust or an annuity. We recommend donors appoint a trust company or an individual as trustee. In the case of an annuity, we would recommend working with an insurance company. We can work with you and your clients to develop a letter of intent as to how a planned gift will be used.
Can my clients’ families be involved in their charitable giving through the Comox Valley Community Foundation?
We strongly encourage family philanthropy. We are available to answer your questions and meet with you and your clients to help them through their philanthropic process. We can help you create a customized philanthropic plan, tailored to your clients’ priorities and preference with no obligation to establish an endowment fund at the Foundation and there is no fee for this service.
For further resources on assisting your clients with their philanthropic and estate planning needs, we recommend the Canadian Association of Gift Planners’ Resource Library for professional advisors.