An Agency Fund is a permanent endowment, which provides an annual source of revenue to be used at the discretion of the charitable organization that established it; the capital is owned by the Place2Give Foundation.
To establish an Agency Fund, a charitable organization must have an endowment-building strategy or a multi-year fund development plan as part of its financial plan, as well as its own registered charity number.
An Agency Fund is a long-term strategy that should be integrated into an agency’s operations. Its purpose is to support sustainability or maintain charitable programming (including educational awards) consistent with the agency’s mission.
Agency Funds are part of P2G’s way to connect our donors with interesting projects offered through our Agency Fund Holders.
Spending policy and fees for Agency Funds Endowment only:
P2G makes disbursements from Agency Funds in accordance with our Disbursement Policy unless an agency elects to set its spending rate at 5%, the minimum allowable by federal law. The fee table below is what the charity that holds the account pays.
In 2021, the Spending Policy offers NO ceiling on the disbursement amount, however, the base $25,000 for an Endowment Account is to remain in the fund for a minimum of one year through to the life of the fund. The annual recovery for both administration and investment management expenses is based on The Foundation’s Fee Policy.
In 2021, the minimum deposit for an Agency to open an Agency Endowment Fund account is $25,000 in the currency in which the agency is registered (CAD OR US). This can come from a single donor or multiple donors to the Agency.