We know that many of our clients share the same philosophy of giving back. We established the Hemisphere Foundation in 2017 to promote philanthropy by offering our clients a simple and convenient way to assist with their charitable giving through the use of a Donor-Advised Fund (DAF).

A DAF is a tax preferred charitable investing account created under the umbrella of the Hemisphere Foundation. Through a DAF, clients are provided with virtually the same benefits as a private foundation without the set-up costs and ongoing administration headaches.

A minimum irrevocable contribution of $25,000 in securities or cash is required to establish a DAF. As a philanthropic vehicle, a DAF provides flexibility for giving to registered Canadian charities of your choice. A minimum of 3.5% of the account value must be distributed each year while the remainder can continue to grow to leave a lasting charitable legacy.

A donation also provides notable tax benefits. Clients receive a charitable donation tax receipt for the full amount donated in the year given. You can also minimize capital gains by donating securities with a low-cost basis.

If a DAF does not work for you, clients are also able to make a charitable donation for a lesser amount directly to the Hemisphere Foundation. This provides similar benefits to a DAF though the distribution of your donation is made in support of numerous local charitable initiatives as selected by the Hemisphere Foundation.