Niagara Community Foundation is always looking for new ways to help donors in achieving their philanthropic goals and to work with professionals in the financial, estate and investment world in mutually beneficial relationships. As a result, NCF created the External Investment Managers (EIM) Program. The EIM allows assets gifted to a newly created fund to be invested outside NCF’s Consolidated Investment Fund in a portfolio managed by the donor’s recommended investment firm. When coupled with a donor advised fund, the Program provides donors with an attractive alternative to a private foundation.
- A simple fund agreement is used to create the donor’s fund at Niagara Community Foundation. The donor has several types of funds to choose from; however, the most common fund type selected by today’s donors is a donor advised fund.
- The minimum contribution to the fund is $1,000,000. Gifts under this amount will be considered on a case-by-case basis.
- To qualify for a donation receipt under the Income Tax Act (Canada), the donor must transfer ownership and legal control of their portfolio assets to Niagara Community Foundation. The definition of a “gift” in the Act must be met to protect both the donor and Niagara Community Foundation. This means that the investment firm’s contractual relationship shifts from the client/donor to Niagara Community Foundation. However, the client/donor may remain involved as an advisor to Niagara Community Foundation and is entitled to receive copies of annual fund statements from the Niagara Community Foundation.