Top reasons to give to the Osprey Community Foundation
We are local Osprey is a vehicle that increases our community’s ability to care for itself and meet its needs, now and forever. Income earned on our community’s endowment is granted out to projects that will benefit residents within the city of Nelson and the Regional District of the Central Kootenays areas E and F.
We provide highly flexible and personal service, accepting a wide variety of assets and offering donors maximum tax advantage.
We build permanent funds using the income generated to respond to immediate needs, helping our communities ensure vital futures year after year after year.
We multiply the impact of gift dollars by pooling them with other donations – which in turn means more money goes back to our community.
We are transparent and trusted stewards of community resources, committed to being accountable, accessible and responsive.
Ways to give
Thank you for considering donating to a fund held within Osprey Community Foundation. All eligible donations over $20 will receive a tax receipt.
Monthly or annual donations
Your monthly or annual donation will provide a consistent and reliable source of funding for grants from our established funds.
Donate with your credit card through our safe and secure online Paypal portal. A Paypal account is not required.
Cash or Cheque
This type of gift can include outright gift or pledge of cash, cheques or money orders. Cash donations can be dropped off at the office during open hours – please do not mail cash. Cheques can be mailed or dropped off at our office; please make all cheques payable to “Osprey Community Foundation” and enclose a note or write the fund you wish to contribute to in the notes on the cheque.
Please include this Donation Form when sending in your gift.
On your bank account, set up the Osprey Community Foundation as a new e-Transfer recipient with the email firstname.lastname@example.org. E-transfers sent to this email are automatically accepted, security questions are not required. Important: In the message box include the Fund Name to which you would like your donation allocated and your name and address so we know where to send the tax receipt. Alternatively, include this information in an email and send it to email@example.com
Publicly traded securities – stocks and bonds
A gift of publicly-traded Canadian securities is the transfer of ownership of stocks or bonds to the Osprey Community Foundation.
BENEFITS OF MAKING A GIFT OF PUBLICLY TRADED SECURITIES:
- It’s easy – securities can be transferred electronically
By transferring your securities directly to Osprey Community Foundation, you eliminate the capital gains tax
- You receive a charitable tax receipt for the fair market value of the stock upon transfer
- If your donation exceeds the amount eligible for a tax credit in the year your gift is made, the excess credit may be carried forward for up to five years
- Reduce taxes to your estate: If you leave publicly traded securities to PoCo Community Foundation through your will, your taxable capital gain may be eliminated and your estate many claim a tax credit of up to 100% of your net annual income in the year of death and the year preceding
We use CIBC Wood Gundy to accept securities on our behalf. To donate securities, please complete this Gift of Shares Form for your investment advisor or broker and provide us with a copy at ed@ospreycommunityfoundation
Once we have received the form we can follow up with your advisor if there is any delay or question with respect to the receipt of the shares into our account. The value of your gift and receipt is determined as the end-of-day value the day the shares are received into our account.
A Bequest in your will
A gift in a will (often called a charitable bequest) may specify a certain sum of money, a particular asset, or a portion of an estate, to be donated to the Osprey Community Foundation. Donors of bequests can receive a substantial reduction in federal gift and estate taxes.
Real estate or other tangible property
A tax receipt is issued for the fair market value, as determined by appraisal, on the date of transfer.
A gift of life insurance
You can provide a sizeable future gift to Osprey at an affordable current cost, without reducing what you give to family and friends through your estate. The Osprey Community Foundation can be named as the beneficiary of your life insurance policy. If you designate the Osprey Community Foundation as the irrevocable beneficiary or owner and beneficiary of your life insurance policy, we will be able to provide you with an official receipt for income tax purposes for the amount of premium you pay each year.
If you wish to receive a same-year tax receipt, please ensure that payment is made no later than December 31.
Cheques: please ensure that your cheque is mailed (and postmarked) no later than December 31.
Online: make online gifts before midnight (PST) on December 31.
Gifts of Securities: we recommend having your broker file all forms with CIBC Wood Gundy by December 19* in order to ensure that final ownership of the securities is transferred to the Osprey Community Foundation by December 31.
Where do you want your Osprey contribution to go...
What do we do with donated money?
Donations are pooled and permanently invested with the Vancouver Foundation in its Socially Responsible Investment Fund. The annual income is then distributed back to the community in the form of grants. The original investment is left to grow over time and provides permanent benefits to the citizens of Nelson and the surrounding area.
What about administration fees?
Osprey charges an administration fee (currently 0.85% of the market value of our endowment funds) to help cover administration costs. The Vancouver Foundation also charges management fees (currently 1.15%). So in total, annual fees add up to about 2% of the value of our endowment.
What is an endowment?
An endowment is where money is pooled and permanently invested as capital and the annual interest earned is used for charitable purposes through a grant making process. Establishing an endowment is free of charge and has considerable tax benefits.