What is the St. Albert Sturgeon Community Foundation?

The St. Albert Sturgeon Community Foundation provides a simple way for individuals and families to create charitable endowment funds that support causes and organizations in St. Albert and Sturgeon County.

How does the Foundation help donors make an impact?

For many donors, the most important goal of giving is to make a difference now and into the future. The Foundation works with donors to identify community needs and connect their philanthropic goals with local charities and initiatives that strengthen the community.

What is an endowment fund?

An endowment fund is a permanent charitable fund where the original gift is invested and preserved. Each year, a portion of the investment earnings is distributed as grants to charities, allowing the fund to support the community for generations to come.

What is a Named Endowment Fund?

A Named Endowment Fund is a fund established in the name of an individual, family, or organization. It creates a lasting legacy that continues to support the community over time.

How are Named Endowment Funds recognized?

Named Endowment Funds are recognized in the St. Albert Sturgeon Community Foundation’s Annual Report and on the Foundation’s website. Additional recognition, at the discretion of the donor, may be provided as significant grants are made from the Fund.

Can donors decide which charities receive funding?

Yes. The level of donor participation is flexible. Some donors choose specific charities to receive annual distributions, while others provide advice each year or outline general areas of interest. Some donors prefer to leave granting decisions to the Foundation so it can respond to emerging needs in the community.

What types of gifts can donors make?

Donors may choose from a variety of gifting options. Donations can be in the form of cash/cheque or credit card, publicly traded securities, bequeaths in wills, and life insurance policies. The St. Albert Sturgeon Community Foundation will work with Financial Advisors in exploring options for their clients to make charitable gifts that will meet personal, financial and philanthropic objectives.

Can the Foundation work with my financial advisor?

Yes. The Foundation works with Finance Advisors to explore giving options that align with a donor’s personal financial planning, tax considerations, and philanthropic goals.

What are the benefits of creating a fund through the Foundation?

Creating a fund through the Foundation allows donors to:

• Simplify charitable giving

• Reduce administrative responsibilities

• Streamline record keeping and tax reporting

• Time gifts to match cash flow

• Maximize potential tax benefits

• Avoid the complexity of establishing and managing a private foundation

How are the Foundation’s funds invested?

The Foundation’s assets are invested with the Edmonton Community Foundation and managed by professional money managers. By pooling funds for investment and administrative purposes, the Foundation can minimize costs and maximize returns.

How much is distributed each year?

Annually, in keeping with Canada Revenue Agency guidelines, the St. Albert Sturgeon Community Foundation distributes four and a half (4.5) percent of the capital of its funds to support charitable causes.

How is the Foundation governed?

The Foundation is governed by a volunteer board of community leaders from St. Albert, Sturgeon County, and surrounding areas and is managed by an Executive Director.

Will donors receive updates about their fund?

Yes. Fund holders receive annual reports on their fund’s performance as well as follow-up reports on grant recipients and how grant funds are used in the community.

Why consider leaving a charitable legacy?

Many individuals find that their accumulated wealth exceeds what they need to meet personal or family goals. Creating a fund with the Foundation allows them to leave a meaningful legacy that continues to benefit their community long into the future.