(Note: the donor’s name has been changed to reflect her wishes for anonymity)
Camp Discover Fund (field of interest fund)
Mary had many fond memories of summer camp, from meeting new friends, acquiring a new skill, or just having a ton of fun. These were special moments that were close to her heart. In 2006, Mary established a new fund at The Guelph Community Foundation to support camp opportunities for children and youth…forever. This new gift of $118,650 came in the form of a securities transfer as Mary, who worked closely with her Professional Advisor, wanted to take advantage of the new tax incentive as well as fulfill her philanthropic goal of leaving a legacy in her community.
Gifts of publicly traded securities have always appealed to donors, however, in the May 2006 Federal Budget, it was announced that the capital gains tax would be eliminated on gifts of publicly traded securities. It is anticipated that this new tax incentive will triple the level of charitable giving across our country and will make a huge impact on our charitable sector and provide an exciting opportunity for donors in our community to make a difference.
The Donor's Goal:
• To create a legacy and give back to the community
• To remain anonymous
• To provide ongoing support and opportunity for children and youth to attend summer camp
The Guelph Community Foundation's Response:
• A Field of Interest Fund