The foundation provides an opportunity for citizens to contribute to and invest in the long-term fulfillment of community needs. Funds from the foundation will be used to support worthwhile community projects organized by charitable organizations within St. Albert area.
Create a Name or Family Fund
Through the St. Albert Community Foundation, you have an opportunity to make a lasting difference in your community and to help shape its future. The donation you make, whether received during your life time, or afterward through a bequest in your will or a life insurance policy, will be invested as permanently endowed funds to generate income for charitable purposes in the community, year after year.
The Community Fund provides the Foundation with the flexibility to decide where the earnings can be used most effectively each year to meet the community’s needs as they change from generation to generation.
Donors may specify one or more charitable organizations or institutions to be perpetual beneficiaries of the net annual income from their fund.
Field of Interest
Donors may request that the Foundation direct the earnings from their fund to a particular area of interest; i.e. youth programs, social programs, the performing arts, seniors, etc.
Donors may advise the Foundation each year as to which charitable organizations are to benefit from the earnings of their fund.
Under these programs, the Foundation manages the funds administration, evaluation and granting to charities under the guidelines mutually agreed upon between the donor and the Foundation.
Registered Charity Fund
Any non-profit agency or group must also be a Registered Charity under the Canada Revenue Agency to establish an endowment fund with the St. Albert Community Foundation. The total value of a pool of assets enables the Community Foundation to diversify investments much more readily than smaller endowments, thereby allowing maximized total return and reduced investment charges. The St. Albert Community Foundation acts as a buffer between the Registered Charity and its endowment fund, reducing the cost of administration while maximizing the investment return.
Corporate Name Fund
Each year there is an increasing number of requests for corporate giving. More administrative effort is required to track these requests and to respond in a cost effective and equitable manner. With the establishment of a Corporate Named Fund, the Community Foundation will manage the investment and administration of the fund for corporate giving under pre-arranged conditions.
The Corporation establishes an endowment fund for the purpose of generating income each year to match the corporate giving budget. This fund could be Community Based, Donor Designated or Donor Advised.