The past several years have seen a rise in the number of bequests made to CoDev. To those friends and families, we say a heartfelt thank you. These generous gifts help us to strengthen the base for CoDev’s continuing operations and plans for future projects.
The CoDevelopment Endowment Fund was established in 2005 in celebration of 20 years of work and to provide donors with a mechanism to donate to CoDev’s future by making such bequests. The Fund grew beyond our expectations when in 2009, Owen Williams made an incredibly generous legacy gift. And since then, the fund has continued to grow.
You may be wondering how the mechanics of such a Fund works. “ENDOWMENT” refers to a principal sum of money set aside and invested. The resulting interest from the investments is used for charitable purposes. With every added gift to the Endowment, the interest grows and provides CoDev with a permanent source of support for our work. As the Fund grows, the amount of interest earned increases exponentially. The Fund itself is managed by Vancity Community Foundation in a professional and ethical manner with the goal of ensuring the maximum return on our investment.
“BEQUEST” is the name given to a donation made through your will. Anyone can make a bequest. If you already have a will you can add CoDevelopment Canada Association (Charitable Registration #1301 53463 RR0001) or the CoDev Endowment Fund at Vancity Community Foundation (Charitable Registration #89202 8242 RR0001) as a beneficiary. Bequests do have tax benefits and we encourage you to discuss these with your financial planner.
There are bequest options available:
Specific Bequest – a specified amount of money, piece of property (share, artwork, real estate, etc.)
Percentage Bequest – a percentage of the value of your estate
Residual Bequest – a gift of all or a portion of what remains after debts, taxes, administrative expenses and specific bequests have been made
There is no requirement to notify CoDev of a bequest but doing so helps us to plan for our future and recognize your generosity. It also ensures that your gift is used as you wish and that there is no ambiguity. Gifts sent directly to CoDev can be used for core funding and/or programming. Gifts sent to the CoDev Endowment Fund at Vancity Community Foundation will be held in the fund dividends and interest. Either way, you can be sure that your gift will support CoDev’s work in building partnerships for global justice.
The decision to leave a legacy gift is an important one. We are grateful for the dedicated membership that supports our organization. Our work for social change is made stronger by those who give annually, monthly, with a major gift or at special events. Becoming a planned donor through a bequest, completes that circle of giving. We invite you to contact CoDev for additional information about planned giving. We also encourage you to contact your lawyer, estate planner, financial advisor, or available online planning tools for additional assistance.
