Your Questions Answered
Q. What is the Fredericton Community Foundation?
A. We are a public grantmaking foundation, serving the Greater Fredericton area. We are a registered charity that makes grants to other charities and to those organizations recognized by the federal government as “qualified donees”.
Q. What charities and organizations do you grant to?
A. We grant to any registered Canadian charity, registered Canadian Amateur Athletic Association, municipality or Federal or Provincial agency (such as shools). However, we only grant for projects that are significantly impacting Greater Fredericton.
Q. What kinds of projects do you fund?
A. We support organizations working in the fields of arts and culture; health; environment; education; youth; recreation and sport; heritage; and social development.
Q. Are there some organizations or some projects that you don’t grant to?
A. Yes. The following types of organizations and activities are ineligible for a grant:
• Non-registered charitable institutions unless supported by a qualified organization
• Organizations that are profit oriented
• Activities that are political or religious in nature (this does not preclude religious organizations from applying if they are delivering a service to the community that is not religious or faith based)
• Organizations not located or operating in Greater Fredericton
• Individuals, unless the request is deemed unique and unusual and then only through an organization as described above
• Annual Fund Drives
• Core operating expenses of organizations, unless it is critical to mission delivery
• Deficit Financing
Q. How do you define “Greater Fredericton”?
A. We have deliberately not put geographic boundaries on the definition, however, we have granted to communities throughout central New Brunswick, particularly where those communities are not served by a community foundation. If you are wondering if your community qualifies for a grant, please contact our office.
Q. When are your grant deadlines?
A. We do two general grants per year and the deadlines are April 1st and October 1st. In addition, we give a single Impact Grant once per year and we accept letters of interest for that grant each September.
Q. What are the size of the grants?
A. While there are no fixed limits on the size of our grants, they are generally in the range of $500 to $3,000. The exception is the Impact Grant which is generally in the $15,000 to $20,000 range.
Q. Where do you get your money from to make the grants?
A. Our vision is to be the vital link between caring donors and the needs and interests of our community. Our funds all come from donors. Some donate large sums of money and set up named funds. Others donate a small, one-time gift. All of our donations are endowed and the income from these funds is what we distribute as grants in our community.
Q. What do you mean by “endowed” funds?
A. “Endowed” simply means that the donations that we receive are not directly spent (in fact, we do all in our power to protect the actual donation from being spent). Instead, we invest the donation, along with all of the other donations that we receive. These investments generate income and it is that income that we distribute as grants to the community. So, in essence, when a donor makes a gift to the Foundation, they are making a gift that will have an impact on the community forever!
Q. What are the different ways that I can contribute to the Foundation?
A. Giving Options include:
• Cash
• Publicly Traded Securities
• Life Insurance
• Bequest in a Will
• Residual interest
• Remainder trust
• Property (Art, Real Estate, etc.)
Q. I guess you’re not interested in my $10 donation?
A. Of course we are! All donations contribute to building our endowment funds. Just imagine, your $10 will still be helping your community 100 years from now! We will use your gift to build our Community Fund.
Q. If I want to make a larger contribution, can I create and name a fund?
A. Certainly! However, a named fund with the Fredericton Community Foundation requires a minimum $10,000 donation. Named funds create a legacy for the person or group that the fund is named after. It is a great way to honour a loved one and ensure that they are remembered forever in our community.
Q. What are my options if I do not have the funds to start a Named Fund immediately?
A. The Foundation offers donors the option of an “Emerging Fund”. This allows donors to donate over time until they have reached their goal and can then name their fund.
Q. What types of Funds are available?
A. The most common fund types are:
• Community Fund: All undesignated donations are added to this fund, giving the Foundation the most flexibility to respond to changing needs in our local community.
• Field of Interest Fund: This fund allows the donors to define their charitable field of interest. The Board selects community based charities from within your specified field of interest and directs the funds to this specified field. Examples include Arts, Education, Heritage, Youth, Social, Environment and more.
• Designated Fund: The donor designates which charitable organization(s) will benefit from their fund
• Donor Advised Fund: The donor advises the Foundation each year as to which organization(s) should receive the grants from their fund.
Q. What happens to my donation?
A. The principal amount of the gift is invested. It is pooled with all the Foundation’s
assets and professionally managed with an Investment agency and overseen by a Finance Committee and annually audited by a national accounting firm. The income generated from these gifts is granted out to the community.
Q. Who benefits from my donation?
A. All monies granted from the Foundation stay in the Greater Fredericton area to support the needs of our community. We have granted to over 200 local non-profit organizations doing great work in all of our fields of interest.
Q. Do I get a tax receipt for my donation?
A. Absolutely! You will receive an official charitable tax receipt.
*** We recommend that you consult a financial advisor for professional advice on the tax implications of any donation.***