| No. 95 | April 10, 2009 |
Make it a Family AffairSome giving decisions are made on the spur of the moment; others however are, and should be, planned and it is about the latter that the family can be most easily involved. Donor advised funds are a natural for family giving and provide many opportunities for family input. The first family opportunity comes in determining the purposes for which a fund is being established whether it be the arts, a scholarship, planting trees in the local community, a memorial to a family member or to mark a special occasion - a great opportunity for a family meeting. How much can we give? Obviously a very personal matter. Family members have differing capacities to give but, ideally, each should contribute something in the early stages and be encouraged to give on a regular basis. Another opportunity for involvement comes with the setting of the financial goal. Financial goal setting also involves thinking about the amount grant to be made each year. |
As a guideline:
The Foundation does all the administrative work, it issues charitable receipts, invests the capital, monitors performance, handles reports required by the Canadian revenue Agency, issues the cheque to recipients, organizes events to present awards and invites donors. We often talk about young people not being interested in community work. Why not start a conversation in your home today about a family fund at CFPEI. We.d be glad to provide more information about how it is done. |