Donor Advised Funds

Funding and operating a private foundation can be costly and time consuming. Donors who do not wish to, or are not able to, set up their own private foundation, can set up a donor-advised fund within the CGOV Foundation. For a minimum gift of $250,000 a separate fund is created under the CGOV Foundation umbrella. The donor will receive on-going investment performance reviews from the investment manager, as well as recommend to the Board of Directors where he or she wishes to direct the grants.

Fees

Investment management fees are 1% per annum. Administrative costs will be invoiced at a rate of 0.25% per annum.

Advantages

Investment Management Expertise
While it is expected that CGOV Asset Management will be the principal investment manager on behalf of the CGOV Foundation, the governance of the CGOV Foundation is independent. As such, the Trustees have the authority to remove CGOV Asset Management in whole or in part if deemed appropriate or necessary.

CGOV Asset Management has developed a successful 14-year track record of managing investment portfolios on behalf of high net-worth families, not-for-profits and pension plans.

Professional Advisor Team
In addition to the expertise within the CGOV Foundation board of directors, advice will come from advisors beyond those formally involved in the foundation’s affairs. Advice will be sought in the areas of Canada Revenue Agency rules with respect to receiving and gifting, and research for philanthropic grants (investments).

Mobility
In keeping with the symbiotic relationship between the CGOV Foundation and CGOV Asset Management, it is contemplated that clients who are also contributors of donor-advised funds may wish to terminate their professional relationship with CGOV Asset Management. In such circumstances the governance of the CGOV Foundation, in keeping with specified government guidelines, permits the mobility of a clients' donor-advised fund to another public foundation of the donor’s choosing.