How To Start a Foundation in Canada

When you’re looking for ways to have a big impact and make the world a better place, things like volunteering your time and donating money to charities are always good options. However, what if you want to take your generosity a step further? A good choice is starting your own foundation.

A foundation is a certain category of nonprofit organization or charitable trust. Foundations are specifically designed to manage and distribute money to other people, organizations, and institutions for charitable means. There are both public and private foundations, with private foundations being the most common. In this article, we’ll explain how to start a foundation in Canada so you can begin making an impact as soon as possible.

Starting a Foundation in Canada

In Canada, foundations are registered charities, so you’ll have to go through the same steps as establishing a charitable organization. These steps include:

• Determine whether you want to apply to become a registered charity. You can even use this tool to help you decide!
• Once you’ve determined that you want to apply to become a registered charity, you should then set up your organization before establishing yourself as a legal entity.
• After setting up your organization, you should apply for charitable registration with the Canada Revenue Agency (CRA). This involves providing necessary documentation, describing your activities, and submitting your application.
• Your application will go through a review process to determine whether or not your registration will be approved.

Another important thing to consider is the cost of starting a foundation, as the process of setting up an organization and applying for registration is not free, especially if you receive legal help from a law firm. Generally, starting a private foundation can cost anywhere between $5,000 and $15,000.

If starting a foundation seems like more than you want to commit to, another great alternative to increase your positive impact is by contributing to a donor-advised fund. A donor-advised fund offers a variety of giving options in an organized, tax-efficient way.

The Canadian National Christian Foundation provides philanthropic advice and wants to connect God’s money with God’s work. Our staff, our leadership, our board, and our donors are all believers who want to help you manage your assets and guide you through creative giving solutions that also benefit you. We can handle non-cash gifts quickly and effectively, getting the money into the field as soon as possible with 100% of your principal always available to grant out. You can get started by contributing to a donor-advised fund today!

About Canadian National Christian Foundation

CNCF is a community of givers who are seeking to advance the Kingdom of God by connecting the resources God has entrusted to them with His work on earth.

Similar to other public foundations, CNCF’s difference is the commitment of its staff and directors to the Word of God, its non-denominational history and status as a Christian foundation, and its ability to allow donors to donate anonymously, at a time and gift value of their choosing.  Learn more by visiting our website.