More Ways to Give

Believe. You make the difference.

Email To Friend

Font Size: Increase Font Size

Donor Advised Funds

SickKids Charitable Giving Fund - Frequently Asked Questions

What is SickKids Charitable Giving Fund?

The SickKids Charitable Giving Fund is an independent, federally-incorporated public charity registered with the Canada Revenue Agency (CRA). The charity's charitable registration number is 81802 6346 RR0001. SickKids Charitable Giving Fund offers donors a giving vehicle known as a donor advised fund. Establishing a donor advised fund is like creating your own "private foundation." A portion of the annual disbursement from the fund will support SickKids while the remaining amount can be directed to other Canadian charities of your choice.

How does SickKids Charitable Giving Fund Work?

A portion of the fund's income is disbursed to SickKids annually. In addition, donors who establish a donor advised fund advise SickKids Charitable Giving Fund on an annual basis, about which charitable organizations they also would like to benefit from the fund's income.

Why should I invest my money with SickKids Charitable Giving Fund?

A donor advised fund at SickKids gives you the security of skilled financial management. You are assured of the finest stewardship of your donation - both in terms of investing your philanthropic dollar, as well as allocating funds to the charity of your choice. SickKids Charitable Giving Fund offers a low administrative fee and, because your gift is invested alongside SickKids Foundation endowments, you reap the benefits of the excellent stewardship and track record of the Foundation's investment managers. The Foundation's overall investment performance ranking against other funds with a similar profile is very strong, with a record of outperforming industry benchmarks.

What happens when the SickKids Charitable Giving Fund receives my contribution?

When a contribution is received, you will be issued an official tax receipt.

How often may I contribute to a Fund?

There is no limit to how often you can contribute to a Fund. SickKids Charitable Giving Fund will accept a minimum contribution of $1,000 whenever it is most convenient for you. All contributions made to a fund will be officially receipted once received.

What types of gifts are accepted by SickKids Charitable Giving Fund?

Cash contributions;
Publicly traded securities including mutual funds, equities, stocks and bonds*;
Other property: Acceptance of real estate and donations of other assets such as privately held company stock will be decided on a case-by-case basis.

* If you donate securities to establish a donor advised fund, you will pay no capital gains tax. This extra incentive for gifts of publicly-listed securities makes stocks one of the most cost effective ways to donate to charity. Call Angela Murphy at 416-813-8260 for more information.

Would it be a good estate planning idea to leave my Registered Retirement Savings Plans (RRSPs) and/or Registered Retirement Income Funds (RRIFs) to a Fund?

This type of deferred donation is one of the most advantageous because when these types of assets are directly designated to a charity, they are not included in your estate and are not subject to probate fees. Also, your estate (or your spouse's estate) will receive a tax credit.

How do I designate my fund as the beneficiary of my RRSPs/RRIFs?

Making a gift of RRSPs/RRIFs is easy to do. You simply change the beneficiary information on the plan document and advise the institution holding your retirement account of the change. We strongly suggest that you seek legal and tax counsel to review your situation before making any changes to your estate plans. Upon request, SickKids Charitable Giving Fund can introduce you to a qualified professional from our SickKids Legacy Advisors program.

How do I know the amount of income available for granting to SickKids Foundation and my other favourite charities?

Following each fiscal year end, SickKids Charitable Giving Fund provides you with a statement of earnings derived from the fund and the amount available for granting. We will request your input as to where you would like those funds directed and suggest some of the highest priority needs at SickKids for your consideration.

How are grants made?

Donors can recommend that grants be made to specific qualified donees by completing the Grant Recommendation Form.

What are the administrative costs?

The administration fee for a SickKids Charitable Giving Fund donor advised fund is one per cent of the fiscal year end balance of the fund's assets per annum. The fee will be paid out of each fund's assets once per year.

Can I pass on the responsibility of granting to other family members?

Yes. SickKids Charitable Giving Fund encourages donors to incorporate succession planning into their donor advised funds. Successors can be named at the time the fund is established and can also be added and/or changed over time.

What happens if I don't want to be responsible for making granting decisions anymore?

When the donor(s) or designated advisor(s) is no longer able to or interested in advising SickKids Charitable Giving Fund, the fund continues and the income is allocated at the discretion of the SickKids Charitable Giving Fund Board.

What are the limitations on charitable donations?

According to Canada Revenue Agency (CRA) regulations, individuals have an annual donation limit of 75 per cent of net income. Donations exceeding 75 per cent of net annual income can be carried forward and claimed within five years. An exception occurs in the year of death (and the year immediately preceding death) at which time 100 per cent of net annual income can be claimed.

Whom do I contact for more information?

For more information about donor advised funds please contact the SickKids Charitable Giving Fund. Our team would be happy to answer all of your questions.
SickKids Charitable Giving Fund Attn: Angela Murphy
525 University Avenue, 14th Floor Toronto, Ontario
M5G 2L3
Tel 416.813.8260
Tel 1.800.661.1083
Fax 416.813.8142
email at givingfund@sickkidsfoundation.com

Return to Top