Mar 7, 2016 in
Starting up a private foundation requires the donor to create a new organization, establish a board of trustees, obtain registered charitable status from Canada Revenue Agency and keep reporting regularly. A fund at a Community Foundation is far easier and faster to establish and entails no start-up costs. Maintaining a donor advised fund at the Foundation is usually more cost effective than running a private foundation, and the problem of inter-generational succession is resolved. In addition, the donor(s) are free from the responsibility of monitoring grants made and reporting requirements. Our Foundation Administrator handles all of the administrative tasks.