Cornerstone Supporters

Our work as a Community Foundation is to support the people, social profits, and natural world of Cortes Island. Just as every good building needs a strong base, it is our Cornerstone Supporters that provide this foundation for our Foundation! These donors provide between $1000 to $10,000 annually to help fund vital research to determine areas of greatest need, establish new program areas, and support the operational work that keeps us growing and thriving as a Community Foundation.

Partners in Philanthropy

Philanthropy means more than just gifts of money for causes that matter. It also includes donations of time, wisdom, and other aspects that support “social” profit. Social profits refer to all those grassroots organizations, nonprofits, charities, and socially-oriented businesses that prioritize the social benefit over the financial benefit. Whether you are a donor ready to give time or money, or whether you are a social profit wanting partnership to help the Cortes Island community or natural home, the Cortes Island Community Foundation is here to be your partner.  One way we can do that is through the development of Funds. Contact us to learn how we can work together to develop a Fund or otherwise support the causes that matter most to you or your organization.

American Donors

Leaving a Bequest/Legacy

There are also ways to give to Cortes Island Community Foundation at a later date. Check out the Vancouver Foundation’s Donation Calculator to learn about tax savings by donation from your estate.

Contact us to to learn more about these and other ways to donate later:

Charitable Bequests

Leave a bequest to the Cortes Island Community Foundation in your Will. You will receive an official receipt for income tax purposes to your estate when it receives the bequest. Bequests can be a specific dollar amount or a residual gift (the entire residue or portion of your estate). Bequests can be given either outright or as a contingent gift. We can provide you with a document with sample clauses for your Will that your lawyer can use as a guide.

Life Insurance

By naming the Cortes Island Community Foundation as the owner and beneficiary or irrevocable beneficiary of your life insurance policy, you can provide a sizeable future gift to the Foundation at an affordable current cost, without reducing what you give to family and friends through your estate. The CICF will be able to provide you with an official receipt for income tax purposes for the amount of premium you pay each year.

RRSP/RRIF/TFSA

By naming the Cortes Island Community Foundation as the beneficiary of your Registered Retirement Savings Plan, Registered Retirement Income Fund or Tax Free Savings Account,  you will make a significant donation to the work of the Foundation, while saving your Estate from paying probate tax on the proceeds.

Donate Annuities

The Canadian Revenue Agency does not apply capital gains tax on donations of publicly traded securities. (Capital gains are the increase in the value of your securities over the price you paid at purchase.)

When you sell your shares for chase, you are responsible for the tax due on the gain, even if you plan to donate the proceeds. If you pay the tax out of those proceeds, there is less money left to donate. Your preferred charity receives a smaller donation and you have a smaller donation to claim for your charitable tax credit.

But when you donate your securities directly to the Cortes Island Community Foundation, those capital gains aren’t subject to tax. This means the Foundation receives a larger gift and you benefit from a tax receipt for the full value of your eligible securities or equity mutual funds. You can give more and save more!