What financial advisors should know

The concept of family philanthropy has exploded in recent years, largely because it opens a different level of consultation incorporating major tax and estate planning with strategic philanthropy. The FPI is dedicated to serving the needs of Jewish family foundations - both private and public - throughout the Montreal area.

The Family Philanthropy Institute provides a centralized source of information, education and community linkage to assist family foundations in maximizing the impact of their philanthropic giving in both the Jewish and general community.

We seek to create informed, educated donors - however independent they may be - who will find in the JCF value and a valuable service. Our community’s financial advisors have been integral partners for over 20 years.

Benefits to partnering with the JCF

• The JCF has a long and successful track record developing relationships, managing funds and facilitating the grant-making process
• Knowledge of local, national, and global Jewish communal needs, and proven history in bringing organizations together for creative partnerships
• Strategic guidance and consulting of philanthropic best practices available through professional staff expertise - services that are not offered by commercial brokerage firms
• Opportunities to participate in coordinated activities among groups of family foundations
• Receive current information on grant-making opportunities in a variety of fields of interest
• Honest broker - as an independent organization, the JCF has no agenda other than to assist foundations in forwarding their individual philanthropic missions

Benefits to creating a public foundation with the JCF

• Immediate income tax reduction
• No capital gains tax on contributions of appreciated stock
• Allows for donations of private company stock
• Not subject to numerous rules and regulations governing private foundations
• Makes grants to virtually any not-for-profit cause within the Jewish and general communities
• Avoid the time and expense of staff required to handle administrative responsibilities
• Anonymity

Public donor-advised Foundation

Within the JCF (a public foundation) with its own identity, a consult with trustee fund allows the donor's family to set a board of trustees who will advise the JCF on allocations and investment management. The JCF administers the fund and makes charitable donations in the name of the Family Foundation.

Private Foundation

Incorporated under Quebec or Canadian law as non-profit corporations or organized as charitable trusts, and recognized by the CCRA as tax-exempt organizations. It may have derived the bulk of its income-producing corpus from a single bequest, or it may receive annual contributions from an individual, group of individuals, or members of a family, and it exists for the sole purpose of making grants. Grant-making decisions are made by a board of trustees, and this board may be autonomous or controlled by the donor or donor family.