This year, Canadian wildfires have left a trail of destruction in their wake, affecting homes, businesses, and the environment. The impact is more apparent than ever as we witness the devastation in Kelowna on a community that is home to our colleagues, clients, and corporate partners. Just as we have always stood together during challenging times, we are now driven to extend our support to those affected by this natural disaster.
As a company with deep roots in the community, we have a responsibility to contribute to the relief efforts. We have received many inquiries about how best to help. With that in mind, we invite you to join us in this fundraising campaign. Donations can be made directly to the charities listed below or can be processed through the Nicola Wealth Private Giving Foundation and the funds will be immediately distributed to the following charities:
There are many charities providing relief for Kelowna and the Okanagan. We selected organizations that can distribute aid immediately.
Ways to Give
Supporting charitable organizations effectively is crucial as it ensures that your resources make a meaningful and lasting impact on the causes you care about. We’ve outlined a few ways to ensure your donation is impactful to the charity and your financial plan.
- Donate directly to the charity through their website. The organizations will issue charitable tax receipts through their own systems.
- Donate by cheque or transfer from your existing investment account to the campaign. These contributions are also eligible for a charitable tax receipt. Contact your Wealth Advisor to request a transfer.
- Donating eligible securities in-kind from your personal, corporate, or trust non-registered accounts can be a very tax-effective way to support charitable causes. Contact your Wealth Advisor to request an in-kind donation. An example of donation of securities in-kind: If you have been a client of Nicola Wealth for at least three years and hold the Nicola U.S. Equity Income Fund in a corporate account, you may be able to make a charitable donation for less than 25 cents on the dollar after accounting for tax deductions and other tax benefits*; effectively maximizing your charitable impact.
- Donate via your existing donor advised fund at the Nicola Wealth Private Giving Foundation as a tax and cost-effective method to mobilize funds to charities. Contact your Wealth Advisor to request an in-kind donation from your Nicola Wealth Private Giving Foundation account.
The Nicola Wealth Private Giving Foundation is a donor-advised fund and registered charitable foundation in Canada. Nicola Wealth Private Giving Foundation accounts are an impactful way for our clients to support Canadian registered charities while maximizing the tax effectiveness of charitable giving. Nicola Wealth pays all the administrative, compliance, and accounting costs for these accounts. If you want to learn more about setting up your own donor-advised fund, please contact your advisor. Nicola Wealth Private Giving Foundation accounts have a minimum initial donation of $25,000, but any donation you make toward this fundraising campaign will count toward that minimum.
*Actual tax savings will depend on a number of factors, including the adjusted cost base of your investments as well as your personal marginal tax rate and cash flow needs. Please speak with your Nicola Wealth advisor to discuss your particular situation.
