Establish A Fund

Establishing a fund at the NBFA is an attractive and economic alternative to incorporating a private foundation. The process is straightforward and uncomplicated. A donor makes a gift to the NBFA, receives an official receipt for income tax purposes, and enters into an agreement with the NBFA. This agreement describes the charitable purpose for which the fund is established, and sets out the terms under which the Foundation will hold and use the fund. The donor is assured that his/her philanthropic goals will be achieved now and in the future while avoiding the time and costs involved in doing the following.

Incorporating a private foundation
Securing registered charity status
Electing a board of directors
Establishing an investment policy
Selecting and engaging an investment manager
Developing and implementing a plan for the work of the private foundation
Conducting the day to day management of the foundation
Keeping detailed records
Engaging auditors to perform annual audits
Managing the disbursement quota
Preparing the Annual Canada Revenue Agency filing
Making arrangements for succession planning to ensure that philanthropic goals are achieved in the next generation.

Let NBFA help you in achieving your philanthropic goals. Together, let’s make the difference!