PHILANTHROPIC GIVING

Mission:

Our mission is to contribute to the health and sustainable growth of our community.

Vision:

Our vision is to be part of a healthy, vibrant and caring community.

At TCPW, it is important that our actions speak. Not only can we manage our clients’ foundations, but we have also created our own corporate foundation as a ‘Donor Advised Fund.’ We believe in giving back to the community that has been so wonderful to us.

Our company policy is to donate a portion of our annual profits to the Terra Cotta Wealth Foundation, which we will distribute to a select group of charities in our region. As our success grows annually, we will give back more and more.

Creating your own charitable foundation

“From success to significance,” is an adage that is familiar to the financial planning of many of our clients. Creating a legacy and giving back to the community and those in need has become an important personal priority. To optimize and streamline these personal goals we offer our clients a more effective way to give back.

The ‘Donor Advised Fund’ is time and tax efficient charitable foundation to handle all your philanthropic passions. Your foundation is a sub-foundation of a public charity administrator called Canada Gives. It was created for the express purpose of housing Donor Advised Funds. You name your own foundation, maintain all control and receive all tax deductions. With this structure, there is minimal administration, accounting and regulatory work to deal with yourself.

Your contributions are made directly to your own foundation while avoiding various restrictions imposed on private foundations. You will receive a tax receipt for each new contribution, in any year, and all distributions from your foundation can be made in the name of your Foundation or anonymously—always your choice.

There are several advantages to creating your own foundation to manage your charitable donations:

  • TCPW oversees the ongoing administration to ensure all the donations are as effective as possible.
  • Your contributions provide tax savings direct to the contributor (you, your own corporation or anyone can donate to your foundation and get a tax receipt).
  • Asset growth within the foundation accumulates tax-free.
  • Donations can be made in cash or securities (there is even a plan to avoid tax using a foundation in the sale of a private company).
  • The foundation can be named as the beneficiary of your registered assets, which will eliminate any tax liability in the case of death.
  • The opportunity exists to continue giving as part of your legacy.
  • It is a hands on way to teach the next generation about the importance and responsibility of giving back to the community—whether local or global.

Join us July 8th at The David Foster Foundation event. Click here for more info