Provident Giving Funds

Provident Foundation's primary giving fund for individuals and business is called the Provident Donor Advised Giving Fund. This Giving Fund is similar in many ways to a private foundation except that it is much simpler to create and manage. You focus on the giving and let us worry about the administrative work.

The Provident Giving Fund allows donors to make a contribution now, distribute the monies immediately or take as much time as they wish to consider their distribution to other registered charities. This might be a very useful tool if, for example, you will experience a large capital gain and wish to take some time to decide how much you will give to charity and which charities you’d like to benefit. With a Provident Donor Advised Giving Fund, you can get a tax receipt immediately and still take the time you need to make wise decisions.

How it works:

  1. Open your Provident Giving Fund today simply by filling out a short application form downloadable here or by emailing or calling us for a printed copy. It's fast and easy to complete. We’ll likely be able to open your Giving Fund within 24 hours.
  2. Give your Giving Fund a name.
  3. Make an initial contribution of at least $5,000 or more in cash or assets. Provident will issue a donation receipt for your gift as soon as it comes into our hands.
  4. Your contribution will be invested into an interest earning account in accordance with our own investment policy where it will grow tax-free or with your own financial advisor.
  5. You may recommend distributions from your fund to any number of charities of your choice at any time, as long as it's at least $250. Provident sends out the cheques for you, with or without your identity - that's your choice.
  6. You, or others, may make additional contributions to your fund at any time and a donation receipt will be issued immediately to the donor.

For all the details related to Donor Advised Funds, simply read this document.