Donor Information

There is no doubt that a gift to the Virden Area Foundation will provide long lasting benefits to the Virden Area. A donor may select a specific beneficiary of the fund, designate a field of interest for the fund, or leave the decision making to the Board based on its knowledge of community needs that presently exist or that may evolve as time goes by.

Ways to Give

  1. A gift of cash or securities to establish a named fund. Gifts may also be made as a memorial, and if requested, anonymously.
  2. A gift of life insurance. In this case, the donor purchases insurance on his/her own life with the Virden Area Foundation named as the owner and irrevocable beneficiary. The donor is entitled to treat the premiums as a charitable gift for income tax purposes. This is an affordable means of leaving a lasting legacy to your community.
  3. A bequest by will or codicil. The bequest may be in the form of a fixed amount of money or assets, or the residue of the estate, perhaps after provision for a life interest.
  4. All capital gifts to the Foundation will be acknowledged in the annual report of the year of the gift and every year thereafter. With any gift or cumulative gifts in excess of $1,000.00, a donor may establish a named fund that will provide a permanent memorial to the family name.

Potential donors are urged to consult their lawyers or life underwriters when preparing to make a gift using a bequest or life insurance. If you are would like to donate to the Virden Area Foundation, please feel free to fill out our donation form online.

Types of Funds

By establishing an endowment fund within the Virden Area Foundation, a donor enables one contribution to address a wide range of human and community needs. The gift works in perpetuity because only earned income is disbursed as grants, and the original gift remains untouched.

Donors may choose from several types of funds with varying degrees of flexibility:

Undesignated Fund
This is the most flexible type of fund since it can respond to the changing needs in the community both during and after the donor's lifetime. Earnings from an undesignated fund will support an unlimited range of charitable needs in the community. Because this type of fund is not tied to any specific agency or area of interest, the Foundation Board is able to address the changing needs of the community, now and in the future.

Field of Interest Fund
Annual earnings from a field of interest fund will be granted to one or more organizations within a defined field of charitable activity. The donor will define the charitable field such as education, relief of poverty, or the arts, and the Foundation Board of Directors will select the specific projects within that field to support.

Designated Fund
When creating a designated fund, the donor selects a specific charitable organization that will benefit from the gift. Annual earnings from a designated fund will be automatically granted to the chosen charity.

Scholarship Fund
A donor may choose to establish a scholarship fund that will pay scholarships to deserving individuals in the name of the donor or in honour of someone else.

In Memoriam Gifts
A gift to the Virden Area Foundation in memoriam of a friend or loved one will provide a lasting tribute and ongoing benefits to the community. These gifts become part of the Community In Memorium Fund unless they exceed $500.00 or are directed to a specified named fund.