A community foundation is governed by a volunteer board of directors. Operating expenses are paid from an annual fund fee and/or from gifts designated by donors to cover foundation operating and program costs.

Most community foundation assets are held in separate funds established by local individuals, families, businesses, or charitable institutions. Each fund may have a special purpose, but the foundation board of directors, representing the community, oversees them all.

Most non-profit organizations have a specific mission. A community foundation’s mission is to improve the quality of life in a given area, in our case, Quadra Island. This broader mission allows us to accept gifts from a wider group of potential donors and to grant funds to a wider group of charitable causes and non-profit organizations – our partners in improving our community, culture and environment.

Area non-profits benefit from having a local community foundation because the community foundation helps money stay in a community. Community foundations benefit local non-profits in other ways, too: besides having local grant money available, some non-profits ask the community foundation to manage an endowment on their own behalf.

As it grows, a community foundation gradually becomes a centre for charitable giving in a community. We help make connections between the people who want to give and the organizations needing financial support.

Please see this helpful graphic for details on how community foundations help support community non-profits and community funds.

An endowment is a type of fund that is set up to produce income for charitable purposes. A typical endowment fund leaves the principal untouched and distributes only the income generated from investments. The distribution rate reflects the long-term growth patterns of investments.

Quadra Island Foundation funds projects to build and support a healthy, resilient community for the benefit of our people, culture and environment.

Donations or bequests of $15,000 or more can be designated to a specific charity or a specific field of interest.

Field of Interest Fund – $15,000 or more in cumulative donations: enables a donor to specify the “field of interest” or “area” to which the income from their fund will be directed, annually

Advised Fund – $25,000 or more in cumulative donations: enables a donor to specify a particular charity or several charitable organizations to which the income of their fund will be directed, annually

Partnership Fund – $50,000 or more in cumulative donations: enables a donor to work with the foundation to enrich the quality of life on Quadra Island. Partnership fund donors may meet with a foundation representative each year to provide direction about the distributions for the income of their fund.

Annual contributions of $15,000 or more can be designated to a specific charity or a specific field of interest.

You will receive a charitable tax receipt for the full market value of your securities on the date the transfer is received into the foundation’s brokerage account. The tax receipt can be used to create a tax credit for you and reduce taxes payable from other income.

There are two methods:

• Option 1 – Sell securities, donate cash, deal with taxes later
• Option 2 – Do not sell securities, instead donate securities themselves to the foundation. You will not be required to pay the capital gains tax and as a charity, the foundation is not required to pay tax.

If you sell securities before you make your donation, the income on your investment will be subject to capital gains tax. Please view the example here for a hypothetical $10,000 donation.

To view or download forms for the donation of publicly listed securities, please click here.