Charitable Giving

The CIBC Wood Gundy Giving Back is a donor advised fund program. A donor advised fund is like having your own charitable foundation, but without the high costs and complexity.

CIBC Wood Gundy has partnered with BenefAction Foundation, a public foundation registered with the Canada Revenue Agency (Registration No. 804213759RR0001). With this partnership, you benefit from the professional investment advice of your CIBC Wood Gundy Investment Advisor while BenefAction Foundation takes care of all the administrative responsibilities.

It is easy to set up a CIBC Wood Gundy Giving Back Fund:

1. Choose a name for your Fund, and establish the fund with an initial contribution of $25,000 or more. You can donate cash, publicly listed securities, life insurance policies and gifts from your estate through your Will.
2. Select the charities you would like to support.
3. A charitable tax receipt will be issued for the value of your donation.
4. Your Fund will be administered by BenefAction Foundation and your donation will be invested and professionally managed by your CIBC Wood Gundy Investment Advisor.
5. You will be kept informed of the status of your Fund. You will receive a semi-annual report outlining the granting activity and current value of your Fund.

With the CIBC Wood Gundy Giving Back program, you can enjoy many benefits while making a difference in the world in a simple and effective way.

Create a legacy for future generations

• You can personalize your legacy by naming your Fund (e.g., John Smith Foundation).
• You can make donation to your Fund during your lifetime, and /or designate your Fund as a beneficiary in your Will to establish a long lasting legacy.
• You can name your own successors or appoint BenefAction Foundation to carry on your family values and legacy in addition to the responsibilities of your Fund.

Maximized tax efficiency

• You will receive immediate recognition for your generosity; a tax receipt wil be issued at the time of the donation for the full market value of your contribution.
• You can use the tax receipt immediately and do not have to wait until the funds are granted to the charities.
• For gifts of appreciated securities, you can donate in kind and realize the full value as a charitable donation without paying tax on any capital gains.
• Assets grow tax-free within your Fund, providing additional assets available to be donated to charities in future years.

Simple and cost effective

• You can build your own charitable giving strategy without the cost of establishing a private foundation. All the administration, legal and accounting work is done on your behalf.

Ongoing professional management

• You can rely on the expertise of your CIBC Wood Gundy Investment Advisor and the BenefAction Foundation philanthropic specialists for the ongoing investment management and administration of your Fund.

Doing a world of good

• You can focus your giving on causes that matter to you. You can recommend which charities will receive the grants each year; there is no maximum to the grant amount and no fixed grant payment dates.
• You can also increase the impact with a personalized donation page; invite family, friends and colleagues to get involved in your cause by making a donation to your Fund, and track how much has been raised.

Privacy

• You can choose to remain anonymous when making grants to charities or receive recognition by disclosing your name, address and/or your Fund to grant recipients.

Integration with your overall wealth and estate plans

• You can establish your Fund today and donate amounts in the future through a Will.

Measurable feedback on your accomplishments

• You will receive quarterly statements on the status of your Fund and details of all the grants distributed by charity sector since inception.