Frequently Asked Questions (FAQ)
General questions
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The Charitable Giving Fund is a donor advised fund program operated by the Raymond James Canada Foundation and administered by Solus Trust.
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Any Raymond James client with Canadian residency, corporations or charities can establish an individual fund within the Raymond James Charitable Giving Fund.
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A minimum contribution of $100,000 is required to set up a charitable giving fund at the Raymond James Canada Foundation.
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As a donor, you receive a charitable tax receipt for the full fair market value of which can be used immediately or carried forward up to five years. Subsequent donations can be made at any time. You can also make your charitable giving fund a residual beneficiary of your estate or the recipient of a bequests in your will.
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Gifts made to the Raymond James Canada Foundation are considered irrevocable gifts. The donor receives a donation tax receipt for the value of the donation. The foundation retains responsibility for the care and management of donated assets. Donations can be made in the form of cash, publicly listed securities, insurance policies, testamentary donations, registered plan beneficiary donations and third-party donations.
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You may recommend a name for your fund for use in correspondence and for publication and recognition purposes. The name may be generic, include a family name or reflect charitable interests.
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With Raymond James Canada Foundation, your existing advisor integrates your charitable account into your overall wealth strategy, including creating a family legacy. Your advisor works alongside our philanthropic and tax specialists.
Management of the charitable giving fund
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Your fund remains under the management of your current Raymond James advisor. Discover the right advisor to guide your financial journey by exploring our search tool.
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- Charitable administration fee: The foundation charges an annual charitable administrative fee for the ongoing maintenance and administration of charitable giving funds based on a published, sliding-scale formula, linked to the value of the assets held in the account.
- Investment management fee: Charitable Giving Fund program assets are invested by the foundation in a Raymond James Viridian, Freedom, Partners or PIMG discretionary investment management account and managed by your advisor. Investment management fees are in addition to charitable administration fees and are applied per the investment platform’s fee agreement.
- Other fees: Certain investments eligible to be held in a Charitable Giving Fund (such as mutual funds) may charge various commissions, management fees, operating and/or administration expenses, while other investments may pay Raymond James Ltd. a referral fee or commission. Your advisor can provide more information on applicable fees.
- Charitable administration fee: The foundation charges an annual charitable administrative fee for the ongoing maintenance and administration of charitable giving funds based on a published, sliding-scale formula, linked to the value of the assets held in the account.
Charitable grants
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You can recommend one-time or recurring grants from your charitable giving fund to a variety of eligible organizations, within the guidelines of the Canada Revenue Agency (CRA). These include the following types of entities recognized as “qualified donees” under the Federal Income Tax Act:
- Registered Canadian charities
- Registered amateur athletic associations
- Registered journalism organizations
- Registered foreign charities that have received a gift from the Government of Canada
- Registered low-cost housing corporations for seniors
- Registered municipal or public bodies carrying out governmental functions in Canada
- Registered municipalities, federal or provincial governments, and their agencies
- Registered universities located outside of Canada
Our foundation’s board of directors embraces a broad and inclusive approach, working to support the widest range of eligible organizations allowed under CRA regulations to meet your charitable goals. Please note, however, that all grant recommendations are subject to review and final approval by the board to ensure compliance and alignment with the foundation.
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The Raymond James Canada Foundation, as a registered Canadian charity, is required to meet the annual disbursement obligations outlined in the Federal Income Tax Act. This includes a mandated minimum disbursement of 3.5% to 5% of the average value of its total assets not used in administration or charitable activities depending on whether the value is below or exceeds $1 million. Donors will be given sufficient notice to recommend a charity or qualified donee to meet these disbursement requirements. If a donor does not provide grant recommendations within a calendar year, the foundation may disburse funds on behalf of a charitable giving fund to satisfy its obligations. Any such disbursement will reflect the donor’s past grant-making preferences.
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A minimum grant of $1,000 per charity.
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Yes, we can establish recurring grants according to your wishes.
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You control how your donations are recognized, including anonymity or "in honour of/In memory of" designations.
Future considerations
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Our policy mandates naming a successor advisor or creating a letter of wishes to guide future disbursements.
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Yes, your charitable giving fund is transferrable, ensuring flexibility for your plans.