Frequently Asked Questions
Q: What are the total assets of the Community Foundation?
A: As of October 31, 2017, the Community Foundation's total assets are approximately $14 million.
Q: How much money has The Community Foundation given away over the years?
A: Since 1976, we’ve given away approximately $7.8 million.
Q: What are the administrative fees?
A: Our administrative fee is 1.5% of the principal/capital of each fund. They are charged annually and taken from the earnings of the fund.
Q: How do I start a fund?
A: The first step in creating a fund is to contact our Executive Director. She will discuss with you what you would like to accomplish with the fund and help design one that is a good fit with your philanthropic goals.
Q: Do I need to have a lot of money to get started?
A: No you don’t. Donations of any amount are always welcome. You can donate to our Community Fund, or to any of our other funds. Even if you are interested in establishing a named or designated fund, you don’t need a lot of money to get started – you can grow the endowment over time.
Q: What happens to my donation?
A: The principal amount of your donation is invested. It is pooled with our other assets and is professionally managed over time by Louisbourg Investments, overseen by our Board of Directors. The interest earned by those investments forms the grants we distribute.
Q: Do I get a tax receipt for my donation?
A: Yes! An official tax receipt will be issued to you.
Q: Do I need a financial advisor to donate securities?
A: If you’d like to donate securities, we do recommend that you do so with the help of a financial advisor.
Q: Do I need a financial advisor to establish a fund?
A: If you wish to establish a fund, you do not need a financial advisor, but you are certainly encouraged to receive independent advice. We recommend you get in touch with our Executive Director to discuss your options and get help finding the fit that's right for you.
Q: How do I increase the principal in my fund?
A: Increasing the principal (endowment) in your fund doesn't have to rest on your shoulders alone. Anyone can donate to your fund. You are free to seek out like-minded individuals interested in making a difference to your beneficiary organization. Fundraising activities such as auctions, events, golf tournaments and other appropriate activities are excellent ways to grow the endowment in the Fund you create. We are happy to advise!
Q: Why do I need to talk to the Executive Director before applying for grants?
A: It’s a good idea to contact our Executive Director before applying for grants to get a good understanding of the granting criteria, and if your project has potential in terms of becoming a recipient. Our Executive Director will also help you understand the components of the application, and the grant cycle timeline.
Q. Who makes the granting decisions?
A: The Community Foundation's Grant Making Committee is comprised of Foundation Board members and community members-at-large. This Committee reviews the applications for the The Smart and Caring Grants, The Anniversary Grant and the Community Service Awards. Their recommendations are presented to our full Board of Directors for final approval.
Q: What are the granting priorities of The Community Foundation?
A: Our Grant Making Committee is a committee of the Community Foundation’s Board of Directors and community members-at-large. The Committee sets granting priorities based on the wishes of our donors and the changing dynamic of our community. We are also members of LivingSJ.
Q: What charities and organizations do you grant to?
A: We are able to grant to any qualified donee. These include local charities as well as charities located outside of Greater Saint John. These could include provincial charities as well as national charities. To be eligible to receive a grant from The Community Foundation, the project/initiative must take place in Greater Saint John and impact our citizens here.
Q: What kind of projects do you fund?
A: We support projects benefiting arts and culture, health, environment, education, youth, poverty reduction, recreation and sport, heritage, and social development.
Q: If my not-for-profit has an operating surplus, will that disqualify my grant application?
A: All grant applications are evaluated on their own merit. Organizations will not be penalized for maintaining a healthy bottom line.
Q: What is project funding?
A: Community Foundation grants are not intended to be sustaining grants designed to support ongoing operational costs such as rent and salaries. They are, however, intended to support the project you are applying for, one-time purchases of equipment or supplies, and to support programming costs for the duration of the project.
Q: What don't you fund?
A: We do not fund large-scale capital projects (new building construction and significant structural renovations), ongoing operational requirements for a charity, such as rent and salaries and multi-year funding. We do fund innovative projects and initiatives that are led by qualified donees to enhance the quality of life in Greater Saint John.
Q: Can I apply for more than one grant at a time during the Smart and Caring Grant Cycle?
A: Yes you can, as long as each application is for a different project.