We are proud to offer easy ways for professional advisors to work with the community foundation to meet the philanthropic planning needs of clients.
With 84% of Canadians contributing to charity on an annual basis, charitable giving is becoming an increasingly important part of your client’s overall financial plan.
Add charitable planning to your practice – or enhance what you already do – with practical online tools and resources designed for you and your clients.
For more information, please contact our office or visit the CFC’s Professional Advisors eResource
Did you know?
Research shows that only 7% of Canadians would leave money to charity in their will, in the absence of a specific discussion around charitable giving. However, if the issue is raised with them, perhaps when drawing up a will or financial plan, the figure rises to 27% – more than a three-fold increase.
Your clients may have both personal and financial reasons to explore the idea of philanthropy. Whether a donor wants to give during or after their lifetime, planning a gift through The Greater Saint John Community Foundation ensures that their donation will help improve the community in perpetuity.
By partnering with The Foundation, you may be able to help your clients achieve their philanthropic goals, create a legacy for the community, and gain tax efficiencies. We work closely with local investment, financial and legal professionals.
Significant giving opportunities often arise when clients are making major business, personal, and financial decisions. The Greater Saint John Community Foundation can work with you and your client to recommend the best charitable solution. Following are some typical scenarios:
Year-end tax planning:
Your client just earned a large bonus or received an inheritance and wants to give a portion back to the community, but has no time to decide on the most deserving charities. Recommend establishing a fund through The Greater Saint John Community Foundation for an immediate tax deduction, and the ability to tailor and coordinate their giving to maximize results and minimize administrative headaches. Your client can then work with The Foundation to determine the charitable organizations that will benefit from their gift.
Preserving an estate:
Estate planning identifies significant taxes going to Canada Revenue Agency, but your client wants to direct dollars for local benefit. The Greater Saint John Community Foundation can work with you and your client to reduce their taxable estate through a charitable bequest or other planned gift. Your client’s gift will create a legacy of caring in the community that stays true to their charitable intent forever.
Establishing a private foundation:
Your client is thinking about establishing a private foundation, but is looking for a simpler, more cost-efficient alternative. The Greater Saint John Community Foundation can help you and your client analyze the pros and cons of creating a donor advised fund or a private foundation.
Sale or disposition of highly appreciated stock:
Your client has appreciated stock and wants to use a portion of the gains for charitable giving, but the identified charities are too small to accept direct stock gifts. Suggest establishing a fund at The Greater Saint John Community Foundation with a gift of appreciated stock. Your client receives a tax deduction on the full market value, while avoiding the capital gains tax that would otherwise arise from sale of the stock. Your client can even be involved in recommending uses for the gift, including the organizations and programs they care about most.
Sale of a business:
Your client owns highly appreciated stock in a company that is about to be acquired. The Foundation can work with you to suggest several ways to structure a charitable gift (including the use of planned giving techniques) to help your client reduce capital gains tax and maximize impact to the community.
Your client is passionate about helping meet a specific community need and wants to make a meaningful gift. You and your client can work with our grant making experts to explore community needs and programs and then direct gift dollars to make the greatest impact.
Substantial RRIF assets:
Your client has substantial assets in retirement accounts and wants to leave their estate to family and some favorite causes. The Foundation can help you and your client evaluate the most beneficial asset distribution to minimize taxes, giving more to their heirs and preserving charitable intent.
Sale of real estate:
Your client is interested in ‘downsizing’ and simplifying life by selling some property. These transactions have tax ramifications that may be reduced with charitable giving.
Marking a milestone:
Whether your client is celebrating a corporate anniversary, a personal milestone (such as a retirement, significant birthday, graduation or birth) or marking the passing of a loved one, naming a fund at The Greater Saint John Community Foundation can be a fitting way to remember a particular person or time in your life.