The Veritas Foundation offers you the opportunity to establish a Donor Advised Fund (DAF) account in a name of your choosing.
This account provides you, the donor, the ability to:
- Make irrevocable charitable deposits to your account of cash or qualified securities (publicly traded stocks, bonds, mutual funds, or other investment products);
- Receive an official tax donation receipt for such deposits; and
- Recommend to the Veritas Foundation annual grants to registered charities and other qualified donees from your account. You and/or your account name can be recognized as the donor.
A DAF can be created by an individual, jointly between individuals (a Joint Account Holder), a group of individuals, an organization, or a corporation or other registered business.
There are four easy steps to opening an account:
Complete the Application Form and give a name to your account. Some naming examples are The Jane Doe Giving Fund, The Smith Family Fund, The Calgary Skating Club Scholarship Fund, or the ABC Company Giving Program.
Identify your successors. To seek to preserve the legacy created by a DAF, successors may be named on the application form. Successors will assume responsibility for the DAF's grant recommendations after the death or incapacity of the original donor.
Make a deposit to your account. Deposits can be in cash, cheque, electronic transfer, or transfer of securities. A minimum donation of $5,000 is required to establish your account. A tax receipt will be issued to the donor for the value of the initial donation. Additional deposits in any amount can be made at any time by anyone, and a tax receipt will be issued to the depositor.
Select the Charities and endeavours you want to support on your application form. Grants are made on a quarterly basis, so let us know which quarter you want your annual donation to go out. If you want, you can determine this at a later date, and you can add or remove charities at any time.