Donor Advised Funds (DAFs) allow donors to provide ongoing resources and security to the priorities that matter most to them.
DAFs are one of today’s fastest growing means of long-term charitable giving because they enable donors to realize immediate benefits while providing ongoing, long-term support to the causes that matter most to them. They can be funded with anything that can be converted to cash including securities, insurance, etc. and can support just about any charitable intention – from causes that are close to the heart like an alma mater, support for health causes, and anything in between.
The Canadian Medical Foundation (CMF) offers a DAF program which enables donors to create long-term charitable gifting plans in order to realize their charitable goals and further their philanthropic priorities. These long-term plans provide donors with the opportunity to make a meaningful gift now, but also enable donors with the ability to continue to give regularly to their desired charities well into the future, resulting in a greater philanthropic impact.
DAFs provide donors with the freedom to fund the charities most important to them with privacy and without administrative burden and high costs. The CMF manages annual disbursements from DAFs to the charities of choice, as well as all other administration required, freeing donors of any clerical hassles. Donors receive a tax receipt for their initial gift, advisories when their disbursements are made, and thank you letters from the recipients, if desired.
For donors who are interested in making a gift to support a DAF (named fund) here are some of the services and resources that are offered:
- A named fund could be established with clear criteria – established by the donor/client to define the nature of the fund, including the criteria for distribution of the income;
- Should it be helpful the CMF undertakes to provide expert donor advice for example what charities might be considered by a donor for support related to specific themes, geographies, outcomes, etc.;
- CMF prepared at its own cost all the necessary paperwork to establish a fund including the deed of gift/gift agreement and transfer forms;
- The CMF could provide national and international visibility of the named fund as part of its communication programs to keep alive the memory and the story of the individual in whose name the fund was created;
- The donor can define the purpose of the fund including the values and objectives;
- The CMF provides the donor receipt and appropriate thank-you/donor stewardship collateral such as a “thank you” letter and/or telephone call in accordance with the Foundation’s Donor Recognition and Stewardship policy;
- CMF could manage the principal of the gift(s) in perpetuity, and could annually grant the revenue of the fund according to the donor’s wishes;
- The Canadian Medical Foundation would hold and invest the funds in a segregated manner, providing superlative governance oversight;
- The CMF collaborates with any registered charities in Canada or with organizations around the world to achieve the objectives of the fund and to publicize and market the fund;
- The CMF would provide governance oversight;
- The CMF would manage the ‘gifting’ from the fund in accordance with the terms of the deed of gift providing annualize reporting to the donor; and,
- Whenever and wherever possible the CMF trys to keep the name and purpose of the fund alive and visible within Canada and the physician community as a distinct and unique named fund. The CMF can assure the ongoing accountability for the fund and the work arising from the fund with all other involved organizations.
CMF can help you give wisely—in a manner that maximizes the benefits to you and your chosen charities and/or beneficiaries. To facilitate your giving, CMF has developed our Donor Advised Fund program, and we offer our professional experience in working with caring people like you to realize your philanthropic goals in a meaningful and lasting way. CMF helps make ongoing giving simple and impactful, while enabling you to realize significant tax advantages right away.
The following causes are currently supported through the CMF’s Donor Advised Fund program:
For additional information about Donor Advised Funds, please contact CMF at 613.518.6010 or firstname.lastname@example.org.