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:
- 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.
- Select the charities you would like to support.
- A charitable tax receipt will be issued for the value of your donation.
- Your Fund will be administered by BenefAction Foundation and your donation will be invested and professionally managed by your CIBC Wood Gundy Investment Advisor.
- 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.