How would donations be spent in 2017?
Agency endowment fund minimum $10,000
- Set up by a charitable organization for their own purposes. Anyone can contribute to the fund and the earnings would be paid directly to the charity.
Designated fund - $5,000 Minimum
- select the organization to receive the proceeds each year.
Donor advised fund - minimum $25,000
- Select the recipient on a year-by-year basis
- Under an arrangement with the Prince Albert Conexus Credit Union, a donor may borrow in multiples of $2,000 interest free with a 5-year payback. PAAC foundation receives the funds immediately and you receive a tax receipt for the whole amount immediately, and you have 5 years to pay the loan back and NO interest.
- Foundations operate on a fee charged against the earnings. For example a 1% point for administration with our present fund would be $5,000.
The Conexus Credit Union has been extremely generous. Besides providing an office and Boardroom at no charge and the Millennium Club project mentioned earlier, they have also advanced us actual dollars to cover overhead expenses.
Prince Albert & Area Community Foundation
PO Box 291
Prince Albert SK S6V5R5
New to PAACF
Donor Advised Funds
More information on the criteria to access and availability of these funds coming soon.
What if I want to designate my Donation?
Yes, I would like to support my community
by contributing to the Prince Albert and Area Community Foundation.
The Prince Albert and Area Community Foundation provides donors with a variety of options for allocating the income from their gifts.
Your donation, if not designated, is used to respond to the changing needs of Prince Albert and area.
Families or individuals can make a lasting contribution to the community. This fund carries your family name in perpetuity.
Agency Endowment Fund
A charitable organization creates an endowment fund within the foundation to which anyone - such as members of the board of directors or other supporters - may contribute. The foundation provides expert investment management, and the annual income from the fund is paid to the charity.
You specify on or more charitable organizations as the perpetual beneficiaries of the annual income from your gift.
Donor Advised Fund
You decide how you want the annual income of your donation used and advise the Foundation on the selection of recipients on a year-by-year basis.
Minimum contribution levels are in place for these designated funds.