FREQUENTLY ASKED QUESTIONS

+ What is a community foundation?

Community foundations help Canadians invest in building strong and resilient communities in unique and innovative ways. Community foundations link donors with specific community needs. Community foundations manage long-term endowment fund, giving grants to existing causes.

+ Who is involved in our local community foundation?

Recognizing the potential, a group of local community leaders with extensive knowledge of our communities through long-time volunteering came together to establish a community foundation for Kawartha Lakes. With expertise in business, financial services, project management, community engagement, municipal government, and not-for-profit, corporate governance, this community minded team set the stage for the Community Foundation of Kawartha Lakes. Board of Directors and Affiliates can be found under Leadership.

+ How is this organization different from other local foundations?

All community foundations are supported by the Community Foundations of Canada. This national entity has extensive organizational resources, expertise and experience from which our Foundation can draw on. Our Foundation is unique as it focuses on finding and filling the funding gaps in our communities, potentially not addressed by existing charities. Using innovations, social enterprise, start-up funds, and micro-credit, a community foundation can experiment in ways that existing charities simply cannot. Given its focus on endowments and professional financial management, existing local charities may wish the community foundation to administer their funds so they can focus on their principal priorities.

+ Will the community foundation duplicate the local charities’ mandate?

No, the Community Foundation of Kawartha Lakes intends to address vital needs of the people and communities that are not currently sufficiently funded or addressed. Our Foundation has the flexibility to act in ways existing charities may not be able to under their mandates. We can also manage endowments for existing charities. Consultations with local existing charities have taken place since the beginning to ensure there is no duplication. .

+ Will the community foundation be competing to take money away from other local charities?

There is plenty of capacity for substantial donations to be shared among our charitable sector. Both local and seasonal residents moving to Kawartha Lakes have capacity to give where they live and call home. Funds will be raised, and grants will be offered by cultivating relationships and providing opportunities with major donors, ensuring we don’t compete with existing fundraising efforts. Community foundations move giving cultures from fundraising to philanthropy, growing the funding pie for all. We will refer donors to existing local charities, where appropriate.

+ How are community foundations different?

Community foundations provide donors with opportunities to make a difference where it matters to them, rather than simply giving to an existing cause, focusing largely on local economic development. Community Foundation of Kawartha Lakes is unique in that it will address the gaps in vital needs in social services and community infrastructure. Community foundations are led by seasoned business and financial services professionals. Highly competent asset management is a hallmark of community foundations.

+ What are the Community Foundation of Kawartha Lakes’ specific areas of focus?

The Community Foundation of Kawartha Lakes will provide donors with opportunities to make a difference in areas that matter to them where vital needs in our communities exist that are not being funded. These vital areas include: the environment; the arts; healthcare; workforce development including youth innovation and mentorship; capital for new farmers; housing stock and rural transportation. The specific areas of focus for the community foundation reflect the charitable purposes for which tax receipts may be given for donations under the Canada Income Tax Act.

+ Should this work not be funded by municipal and provincial governments?

The reality is that government budgets at all levels are stretched and vital needs of people and communities often remain unmet. In the meantime, existing gaps in social services and infrastructure must be addressed to improve the quality of life in our communities. Local philanthropy is an enduring way of providing for each other and our communities when governments will not or cannot act.

+ Why should I give to the community foundation as opposed to other worthy charities?

The Community Foundation of Kawartha Lakes provides you with the unique opportunity to contribute to funds and projects currently underway in our communities. Donations may be made to the Foundation’s endowment which ensures long-term impact and a lasting personal legacy. All funds are managed by financial services professionals. The Community Foundation is more than willing to link you with other charities with whom we collaborate to ensure the impact of your gift is maximized and best meet your wishes.

+ Can I create a legacy with my donation?

By establishing a fund at the Community Foundation of Kawartha Lakes during your lifetime, you lay the groundwork for creating a permanent legacy to charity. There are two main giving options available. You can create a fund to address a specific local need or make an unrestricted donation as part of our community endowment. The Community Foundation of Kawartha Lakes will ensure you meet with financial advisors to help you chose your option(s) and plan your gift.

+ What are the tax benefits of giving?

The Community Foundation of Kawartha Lakes is a registered charity. The government offers generous tax credits for donating to charity. Tax benefits depend on your income. We suggest that you consult with your financial advisor(s) to ensure you receive the best tax treatment possible. Tax benefits may also depend on the structure of your gift. You can donate almost any type of asset: cash, stocks, property structured as a trust, insurance policy, gift annuity, estate bequeath, IRA, etc.