There are many ways for your clients to begin creating their lasting legacy in their community.
In most cases, gifts to Edmonton Community Foundation (ECF) are endowed. That means they are permanently invested for long-term growth. Your client’s initial gift grows through investment to provide permanent support to causes and organizations dear to them. This is the power of endowment.
Many people think endowment funds need to have millions of dollars but that is not true. Your client can create a fully operational endowment fund for as little as $10,000. Click here to learn more about how endowment funds work. Once your client’s fund reaches $10,000, it can begin granting to the organizations and causes important to them.
There are several ways that your clients can give, the most common being:
- Gifts in their will;
- Publicly traded securities; and
- Life insurance,
Not only are endowment funds a great way to provide your clients with a deep sense of fulfillment, they also offer significant tax benefits.
In Alberta, the individual tax credit is 50% of the gift amount and may be 54% to the extent your client has income over $200,000 annually.
Click here to visit our simple-to-use tax calculator to help illustrate to your clients how much tax a gift can save.
Endowment funds can play an integral role in creating an effective financial plan that takes care of clients’ families and friends, while still reflecting their values and minimizing taxes.