Social impact doesn’t have to wait for your estate!
The IG Wealth Management Charitable Giving Program (more commonly known as a Donor Advised Fund), allows you to make a tax-deductible charitable contribution now, which is invested and can grow over time, and provides annual funding for the charities of your choice, now and forever.
The program is a streamlined, cost-effective alternative to a private foundation, but without the upfront costs and complexity. With simplified administration and tax-sheltered growth, regular grants can be provided to the charities which are near and dear to your heart.
You (and your family) retain control of where the dollars are allocated annually, and the naming of it is up to you. For example, you can name it “The Smith Family Charitable Legacy.”
The Charitable Giving Program often works best in concert with other strategies that help you secure your own future, provide for your family, and create good in the world.
Getting started
There are just four steps in getting started with the program.
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Step 1: Open and name the account
You can give the account your own name, a family name, or name it in honour of someone. You or others can contribute to the fund in the future, and you can name a successor to take over your advisory role in the event you’re no longer able to manage the fund.
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Step 2: Make your initial gift
Seed the account with an initial contribution. You’ll immediately receive a charitable tax receipt for the full amount of your donation in the year of the gift. If donating appreciated securities (such as publicly listed stocks, bonds, and mutual funds), these donations will avoid any capital gains tax.
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Step 3: Provide your recommendations
Choose the charities you’d like the account to support annually, and work with the Hague Team to choose the eligible fund to invest in. Each year, the Foundation grants a minimum of 5% of the value of your account.
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Step 4: Make subsequent donations to the account, if desired
Contribute as frequently and as much as you wish. You’ll receive a tax receipt for the value of each donation.