An enriched community with a minimum of social problems and a maximum of cultural and educational opportunities provides the best environment in which to live, work and carry on a productive business.
But this kind of community does not come without costs. Recent shifts in governmental funding have placed an even greater responsibility for support of our community’s charitable enterprises at the local and corporate levels.
A Community Foundation gives more than Money
Because community foundations enjoy tax favored status, have ties to the business community, and can draw on the expertise of experienced professionals, they give more than dollars to their communities. They encourage efficiency in the charitable sector, bring outside money into the community, and act as catalysts to bring new and improved services to area residents.
Get the Maximum Tax Benefit
In the year that a corporation makes a gift to The Temiskaming Foundation, the corporation can deduct the gift’s value from taxable income, subject to any applicable limitations. Income that is earned by that gift in later years will be exempt from taxes, resulting in more money going to charity.
Make Giving Easy and Convenient for a Company
Creating a fund within The Temiskaming Foundation, has many advantages over creating a private foundation. Very few businesses give away enough money to warrant the expense and red tape involved in creating and maintaining a private foundation.
In addition the selection of beneficiaries, if it is to be done effectively, demands time and a knowledge of the many applicants, functions that are not normally an ongoing part of business but are an integral part of The Temiskaming Foundation.
Evening Out Peaks and Valleys in Giving
In years of high profit, a company may want to add more to a fund with the foundation as a way of reducing corporate taxes. In years of poor profit, prior contributions will continue to support favored charities. So, the company can help itself while continuing to help charitable institutions that rely on it for support.
Get Credit for Giving without the Hassle
A significant fund may be named to identify it as contributed by the donor. The Foundation informs each grantee that the grant to it results from the donor’s generosity. The Foundation will also make anonymous grants upon request.
A donor may designate the charities to receive support or may reserve the right to advise the Foundation later of such charities. The Foundation welcomes the involvement and recommendations of its donors.
Let Capable and Experienced People Manage Your Company’s Gift
When a company maintains a fund with the Foundation, it gets the benefit of the experience of our Board and staff in implementing its giving. The Temiskaming Foundation is governed by a Board of Directors chosen to represent the public interest. Under the direction of the Board, the background and the details of all applications are checked carefully.
As The Temiskaming Foundation grows, it will increasingly be able to share with businesses the burden of meeting the needs of our local charitable sector. The Foundation also encourages individuals to contribute to an endowment that will share with business the support of charitable activity in our community.
How to Give:
Discuss your gift or donation with your lawyer, accountant or life insurance agent, or contact the
The Temiskaming Foundation,
24 Armstrong Street, Box 160
New Liskeard, Ontario,
Canada P0J 1P0
(705) 647-1055 phone/fax
“In all these ways we bequeath our area, not diminished, but greater, better, and more beautiful than it was bequeathed to us”
“Philanthropy is almost the only vitue which is sufficiently appreciated by mankind” Henry David Thoreau
“When good men die, their goodness does not perish” Euripides
