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Succession

Planning

for your Business D e c e m b e r 2 0 11 P r o m o t i o n a l

S u pp l e m e n t


This insert provides valuable information to business owners in the Greater Vancouver Area and has been sponsored by the Vancouver Foundation and the Vancouver Fraser Valley Chapter of Advocis

2011: The first of the baby boomers turned 65! . . . and now begins a period of significant transition of business ownership and wealth.

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ever will remain a fairy tale t is anticipated that over the for most business owners. next 16 years, Canadians will The transition to exiting experience the largest transfer your business in a timely of wealth from the baby fashion and in a manner of boom generation. During this your choice is not an event time period it is anticipated but a process and is best that seven in 10 small achieved by having a team businesses in B.C. will undergo of professionally qualified a change in ownership as experts working alongside the baby boomers start you, the business owner. transitioning into retirement. Qualified experts include Business succession financial planners with planning is especially industry designations, important to the growing accountants, lawyers and number of business owners gift planners – all of whom whose major assets are their specialize in the area of homes and their businesses. Mark Schulhof CLU, Ch.F.C. CFP, RHU succession planning. Ideally, a business owner would just sell his or her Remember – business succession business for that “magic” price, retire and live planning is a team effort! happily ever after. Unfortunately however, we It is our hope that through this insert continue to see a large proportion of owners and the many articles contributed by the being forced out of their business due to experts in their field, the benefits of having incapacity or death. Unless the proper exit a qualified team on your side will be clearly strategy has been put in place, retiring happily demonstrated. We all know that the best decisions are informed decisions. The articles address many topics related to business and estate planning, including trusts, legacies, insurance, community, etc. Philanthropy can also play an integral part in succession planning; when the issue of succession and planned giving arises, the adviser and the donor should realize that the purpose of the gift is not to benefit one particular investment opportunity; rather its purpose is to mitigate all possible financial risks to individuals and families by donating the gift prior to the event. In conjunction with your advisers you can determine if there is a more tax efficient method for your family or business Leave a Legacy in your WiLL to donate assets to the charity of choice and By remembering Variety - The Children’s Charity in your will, you can help children who have also ensure the successful transition of your special needs in the province. Your generosity will business. provide hope, enrich lives, and build a better When dealing with all professional future for children like Xander. planners on the subject of philanthropic For more inFormation on hoW to Leave a Legacy: giving, it is their duty as your adviser to ensure Call (604) 320-0505 or that there are enough liquid assets available Toll-free 1(800) 381-2040 to address the family’s immediate and future or visit our website at financial needs while still having enough www.variety.bc.ca/legacy assets remaining to donate a gift back to the 2  |  Advocis  Charitable giving and business succession planning

community or other charity. Leaving a legacy not only depends on your wishes but it also depends on your needs. It’s not just a matter of putting something in your will. As a result of the planning process, if you decide to leave a gift to a charity, there are three important questions you and your adviser should discuss: 1. Which organization(s) do you wish to support? 2. What is the amount of the gift? 3. How is the gift to be donated? Philanthropy and succession planning requires time, thought and preparation and should always be done in consultation with advisers. The Advocis organization has been in existence since the early1900s; its members are self-regulating and, similar to other professionals such as physicians, accountants and lawyers, they are required to attain a minimum number of continued education credits each year in order to maintain their licences. These courses also help the professional practitioner stay up to date on the ongoing changes pertaining to their field of expertise, such as taxes, wills, estates, etc. In this 2011 edition of the Business Succession Planning and Philanthropic Giving insert we are attempting to present you, the business owners, with information that we hope will give you pause to think, “Could I or my business make a difference in our community? What legacy would I like to leave?” The writers and advertisers featured in this insert are worthy of your consideration as a valued source of information and help in your succession planning. We hope you find this insert a useful tool to get you started on the process of implementing your own business succession plan. In closing, I would like to say a very special thank you to Cindy David for her dedication and commitment to this project. I would also like to thank Kerry MacDonald, Chris Wilson and the entire staff from the Business in Vancouver advertising department. This charitable giving insert has grown significantly from past years thanks to the dedication of the entire team including our sponsors, advertisers and editorial contributors. 2011


Message from the president A

dvocis Greater Vancouver and the Vancouver Foundation are once again pleased to sponsor the Charitable Giving and Business Succession Planning Supplement for 2011. With another volatile year in the markets, the challenges of tax, succession and estate planning continue to face business owners. As well, many of us have been touched by a loved one in need and have an emotional connection to a specific charity that we would like to support. The information contained in this publication will help you address your business planning needs and objectives in the areas of charitable giving and business succession. The people that contribute to this publication are experts in their field. Having a relationship with a financial adviser that has the knowledge and experience in these areas can make a world of difference,

John McCallum, CFP Director, Business Development Freedom 55 Financial

helping you make some of these difficult decisions. If you haven’t done so previously, plan to meet with an expert to develop a plan that will benefit not only a charity of your choice, but also yourself and your loved ones. Today, Advocis, the Financial Advisors Association of Canada, is the oldest and

Inside

largest voluntary professional membership association of financial advisers and planners in Canada. We are the home and the voice of Canada’s financial advisers. Through its predecessor associations Advocis proudly continues a century of uninterrupted history of serving Canadian financial advisors, their clients and the nation. As a voluntary organization, Advocis is committed to professionalism among financial advisers. Our members are professional financial advisers who adhere to an established professional Code of Conduct, uphold standards of best practice, participate in ongoing continuing education programs, and maintain appropriate levels of professional liability insurance and are committed to putting their client interests first. I sincerely hope you find the articles in this publication of interest and use to you.

Whose shoes will you be in? Improved employee health can boost your ROI  The people strategy  Is this you?  Succession of a family business  Estate gifting strategy  The unexpected exit  Life and business: %@#$ happens  Succession - the softer side  The value of corporate-owned life insurance  Can building model cars build stronger communities? The silent capital gain Smart planning strategy  Modern will planning with testamentary trusts  Doing well by doing good  What do the desinations mean?  Biggest registered foundations  Biggest educational charitable organizations Biggest environmental charitable organizations Biggest health charitable organizations  Biggest social charitable organizations  Directory of contributors 

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Platinum sponsor:

Gold sponsors:

Silver sponsors:

Discovery needs willing partners. When you remember the BC Cancer Foundation in your will, you’ll be supporting world-renowned research in BC that is shaping the future of cancer care. Please be sure to use our full legal name: BC Cancer Foundation Registration Number: 11881 8434 RR0001

Advocis wishes to thank the Vancouver Foundation for its generous support of this supplement, in addition to its ongoing sponsors. 

Charitable giving and business succession planning   Advocis  |  3


Whose shoes will you be in? Succession planning – serving the needs of the family business and business family

Jim Doyle CFP,CLU,CDFA,TEP jim.doyle@investorsgroup.com

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here’s an old fable whose underlying message suggests that to truly understand someone, you need to walk a mile in their shoes. As the diverse needs of the affluent business family evolve, whose shoes will you be in? Recognizing the need for a deeper understanding of the relevant business and family issues is paramount when you seek to achieve meaningful results. This recognition is where a true multidisciplinary professional team approach really shines. Have you ever found your professional advisers, confident in their technical expertise, proposing solutions before you felt the right questions had been asked? While business families have numerous professional advisers in many fields helping with the families’ or businesses’ needs, they can feel underserved and left wanting. Why is that? Imagine a team of advisers initiating a discussion around business succession planning and proposing solutions mostly from a tax, legal, insurance, investment or financial planning perspective. Then, imagine a family where the kids have never been asked what they want to see happen with their shares in

the family business. Would you change your recommendations based on whether they wanted to “harvest dividends” or “grow the business”? Worse still, imagine a family where the kids or principal members don’t get along. Or, you’re speaking to the family business founder and discover they don’t have confidence in the heir apparent, a fact never communicated to management or key personnel. How would a holistic understanding of the family dynamics lead to a more comprehensive succession plan? Good corporate governance; tools for separating business, management and family matters; as well as growth and development plans for future successors may give many business families some of the necessary tools to create optimal succession plans. It is a sad reality that many succession plans are doomed to failure from the onset due to the fact that essential explorations never took place. Unfortunately, many advisers are aware of business or family issues but feel “those issues” are not part of “their engagement.” Separating business and family issues can be complex, especially when the problems have been around for some time. Often, the conviction to achieve lasting resolutions is not possible until these issues are addressed. In what is often seen as a complex world of family secrets and alliances, power alignments, blended families, sibling rivalries and conflicts between meritocracy and feelings of entitlement, open lines of communication are essential to achieving real progress. The

family enterprise adviser who facilitates open discussion and good communication within the business, management and family circles would be an indispensible team member. Instead of a solution-based orientation, consider creating a discovery-based mindset working with your allied professional advisers. Could it be that a person is best equipped to make wise choices if the adviser poses the right questions – not ideas? For those families that have exceeded financial independence, surely their primary financial goal can’t be tax savings? A common trait shared by a number of successful business families is the desire to see the children inherit their parents’ values and beliefs around money. It shouldn’t surprise you that many successful entrepreneurs don’t volunteer that they don’t have confidence in their children’s abilities to manage the business or the investments as well as the founders do. I can only imagine the number of shareholder’s agreements, wills and succession plans that never got off the ground because the founders’ unexplored concerns were never addressed. After all, without a plan to grow family wealth, it is likely only a question of time before there is no money to manage. It is important to acknowledge the exceptional work done by many highly competent and committed lawyers, accountants, insurance and investment advisers. The challenge may be for advisers to ask better questions. One question you might like to ask: Is your professional adviser an adviser, or a family enterprise adviser? ◊

“Working with Family Business and the Business Family”

Jim Doyle, Senior Financial Consultant, CFP, CLU, CDFA, TEP, Family Enterprise Advisor

For your FREE Special Report on “Business Succession” or an introductory meeting, call Paige at: 604-682-5431 Ext. 213 ™Trademark owned by IGM Financial Inc. and licensed to its subsidiary corporations. ,Insurance License sponsored by the Great West Life Assurance Company Insurance products and services distributed through I.G. Insurance Services Inc. Insurance license sponsored by The Great-West Life Assurance Company. This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice, and is not intended as a solicitation to purchase securities. Jim Doyle is solely responsible for its content. For more information on this topic or any other financial matter, please contact an Investors Group Consultant

4  |  Advocis  Charitable giving and business succession planning

2011


Gifts to the Canadian Cancer Society fund research and prevention initiatives and help families like the Kents create life-changing memories at Camp Goodtimes.

Join the fight. Leave a legacy. Did you know that a legacy gift to the Canadian Cancer Society can fight cancer and protect your estate from tax? The Estate Tax Eliminator Clause can reduce your final taxes to zero.

PROUDLY SPONSORED BY

You can help fund the best cancer research, prevention and support programs. For your copy of the Estate Tax Eliminator Clause and a Personal Estate and Will Planning Guide, please contact Toni Andreola at tandreola@bc.cancer.ca or call 1 800 663 - 2524. cancer.ca

2011

Charitable giving and business succession planning   Advocis  |  5


Improved employee health can boost your roI A comprehensive wellness program can also improve morale and loyalty

Diane Dupuis, CFP, CLU, CHFC, CHS President The Dupuis Langen Group

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t is time to sound the alarm! The health of North Americans is worsening, and for the first time in decades, life expectancy in the United States has decreased. Are Canadians far behind? Not according to studies that report disturbing increases in hypertension, diabetes and obesity among Canadians of all ages. Diabetes increased by 45%, obesity by 18% and hypertension among Canadians aged 35 to 49 rose 127% between 1994 and 2005. The long-term effects of these health issues could be dire for Canadian business if not taken seriously at the corporate level. When absenteeism began to emerge as a major trend, the majority of employers failed to recognize it as a company issue but felt the responsibility for personal health rested solely with their employees. Not so anymore as the full impact of absenteeism and presenteeism has hit the bottom line of corporations, large and small. Businesses today are left with no choice

but to create a healthy workplace culture if they want their employees to perform at their best. They must understand the very real connection between employee health and positive financial results if they are to thrive. A corporate wellness program should focus on changing poor health habits and improving communication in the workplace. It requires commitment from the top, judicious planning and an integration of business objectives with employee needs. Employers who were quick to recognize the positive correlation between healthy lifestyles and a healthy profit margin report that wellness programs produce a healthy return on investment. They describe savings of $4 to $5 dollars for every $1 invested in health promotion. They also note tangible benefits like greater productivity, increased creativity, reduced insurance costs and improved workplace morale. Employees perform at their maximum potential because they are more invested in their work and more loyal to the company. Before investing in a wellness program, however, it is important to recognize that every workforce is different. Each company

needs to identify what issues are affecting its employee population and conduct a diagnostic to assess the wellness of its employees. A good wellness diagnostic will provide a company-wide measurement of the health and wellness of employees and determine those employees’ needs. It will identify issues that have the biggest impact on the company as well as an accurate picture of the general health of the company as a whole. The organization’s health must be assessed to analyze job satisfaction, workload balance, communication and the causes of stress in the workplace. If a diagnostic achieves these objectives, it will serve as a foundation for a successful wellness program, allowing managers to identify problems, set goals and measure results. While most employee benefit advisers, such as Dupuis Langen, are not direct providers of corporate wellness programs or wellness diagnostics, we do have a vested interest in their success. A healthy workforce contributes to the success of our clients, a better quality of life for their employees and the sustainability of their benefits. It is a win-win proposition! ◊

“Before investing in a wellness program, however, it is important to recognize that every workforce is different”

The DUPUIS LANGEN GROUP

Designing, Building and Supporting Benefit Solutions in Business. #210 – 13900 Maycrest Way, Richmond, BC V6V 3E2 Telephone: (604) 270-1142 ● Toll-Free: 1-888-766-6390 Website: www.dupuislangen.com Group Life & AD&D ● Extended Health Care ● Dental ● Short Term Disability ● Long Term Disability ● Critical Illness Protection Optional Coverages ● Employee Assistance Plans ● Disability Management Programs ● Early Intervention Benefits ● Medical Access Plans Registered Pension Plans ● Group RSP’s ● DPSP’s ● Private Health Services Plans

The Dupuis Langen Group is a division of Dupuis Langen Financial Management (1985) Ltd.

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2011


The People Strategy Learn to recognize the critical parts of an effective HR plan for success Peter Meingast The Personnel Department

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eople are an organization’s only resource that can choose to get up and leave at any time that suits them. So if you want to recruit them, want to keep them and want them to add to your business, the organization’s leadership needs to ensure HR is taken into account in your strategic and operational plans. Human resources used to be referred to as “personnel” in the old days when its role was payroll records and interviewing – at that time it rightly had its place in the accounting downline. HR is not so simple anymore. Issues in skill shortages and retention have created a need for more complex business strategies. Skills imbalance When thinking about skill shortages, it is important to note that our country does not lack a labour force; we face an imbalance between skills available and skills required. The result is a witch’s brew pitting employer against employer in their competition for skills. This creates social problems that impact the available options employers may employ. Immigration is one solution companies adopted. Yet this is not a viable solution as our government has severely restricted the means for recruiting and importing labour. This effort to try to force a fit in local employment is not going to enjoy much success. The second option is to recruit staff before the other company does. While that is important, it will get expensive when that is your primary option. It costs roughly $13,000 to replace a worker in private industry (according to the U.S. Department of Labour) – our own Cost of Hiring Calculator reaffirms the number at no less than around $9,000 just to recruit a worker. Should an employee fail the induction process

or be lured away to other employers by their friends or by the offered work and conditions, then the cost can rise to around $40,000; so the average cost of turnover per employee is easily $13,000 or so per worker in a firm. Retention strategy The potentially crippling costs of turnover on organization finances and market positioning means it is time to take Human Resources very seriously. As has been numerically shown it will be easier and cheaper for organizations to develop staff and to enhance retention programs. For those of you taking this on, expect some push back from operations peers who are under budget pressures. To help combat this, we recommend putting in place a talent chief. The talent chief must be more than a half chief. They need to be a full partner at the strategic planning and operating table. Why would a company that values talent rank its “top people officer” below the rank of their other C or E leadership? If your organization values talent, it will bring on an HR exec with the experience and wherewithal to operate at the same level as the rest of the leadership roster and who has the standing to make a retention budget stick. Naturally, then, retention needs to be a critical part of the talent chief’s tool kit. Retention is the future in terms of HR and executive creativity – this field is going well beyond playing catch up on wages or cookie cutter benefit programs or work enhancements.

•  A 3,000-employee organization with average salaries of $45,000 that reduces turnover by just 1% can save $1.3 million, according to the Voluntary Hospitals of America. How do employees feel when an admired, valued co-worker chooses to leave the organization? People naturally begin to consider their own options. •  Estimates put the cost of knowledge leaving with a departing employee as high as 50% of the exiting employee’s salary (with one year of service); this figure grows by 10% for each year of employment. How many new ideas or innovations might an employee generate in the future to help the firm? •  30% of a financial advisor’s clients move with their adviser if they change firms. How much does it cost your organization to gain a customer? Changing to a blend of recruitment and retention, tapping newly arrived people, and HR training can alter the culture of an organization so that it is perceived as authentic, meaningful and respectful. ◊ Peter Meingast can be contacted at pmeingast@goodstaff.com Sources:The Personnel Department, Vancouver B.C. – High Cost of Hire, Cost of a Failed Hire; Staff Retention Services of Phoenix AR; CIA World Fact; Business Week article by Liz Ryan on “6 Signs You Don’t Care about Workers”; Derek Irvine, Globoforce vice-president of global strategy

“It costs roughly $13,000 to replace a worker in private industry”

Stop competitors from cutting into your #1 asset. 604-685-3530 goodstaff.com

2011

Charitable giving and business succession planning   Advocis  |  7


Is this YOU? Answers to commonly asked questions that will help you plan your finances

Cindy David, CFP, CLU Vice-President Estate Planning Division Dupuis Langen Financial Management I’m drawing $150,000 or more from my company in salary. Is my income tax structured efficiently? Many business owners are either not aware of planning opportunities to minimize tax on income or to split income with family members; or they are just too busy to spend time restructuring corporate shares to maximize dividend sprinkling options. With some corporate restructuring, you can potentially reduce tax on income and save more for retirement or increase aftertax income for family expenses. I hate debt and want to pay off the mortgage on my principal residence as quickly as possible. Is this a good idea? If you are the owner of a Canadian Controlled Private Company you might consider the following: we’re in a 60-year historical low interest rate environment and many mortgages are coming in at 3.5% or lower with no indication of

Taking Care of your Future

major increases going forward. And remember that this is non-deductible debt. It might make more sense to lengthen the amortization period, reduce your payments, and increase savings in your company, or even better a holding company. For example, if you withdraw an extra $50,000 in salary to make a balloon payment, you have to pay $21,850 in taxes (assuming highest bracket: 43.7%) leaving $28,150 to make the payment. If, instead, you leave the money in your holding company to invest for retirement, $50,000 of earnings under the small-business deduction limit only attracts 13.5% tax or $6,750, leaving $43,250 to be saved. Further, once money is saved corporately, there are tax-efficient investments such as corporate class mutual funds or taxexempt investments in life insurance plans to increase efficiency and longevity of your corporate retirement savings.

Do I need insurance and if so, do I have the right kind? If you haven’t done so in a while, now might be a good time to review your insurance plans; from your group benefits coverage where costs and definitions are important, to any buy-sell insurance you may have for key employees or partners, to your corporate retirement savings and personal insurance plans. Talk to a specialist and avoid the generalist. Things to keep in mind for an insurance review are obviously cost and coverage amounts but also ask about plan type, definitions, limitations on coverage, expiration or renewal dates, overfunding opportunities, beneficiary designations, personal versus corporate ownership strategies and, last but not least, contractual guarantees. Now that I’ve sold my business, how do I plan for retirement and my estate? Now that you’ve created your nest egg,

DUPUIS LANGEN PREMIER FINANCIAL SOLUTIONS Solutions with Clarity Individual Planning Retirement Income Strategies ● Pension Planning ● Estate Maximization ● Tax Minimization Charitable Gifting ● Health & Welfare Trusts ● Will Planning ● US Property Considerations

Corporate Considerations Retirement Income Programs ● Business Continuation Planning ● Business Succession Planning Buy-Sell Agreement Planning ● Shareholder Agreement Planning ● Insurance Reviews Key Person Insurance ● Group Benefits/RRSPs

Call us at 604.270.1142 for a complimentary consultation Dupuis Langen Financial Management (1985) Ltd. ● #210 – 13900 Maycrest Way, Richmond, BC V6V 3E2 T: (604) 270-1142 ● TF: 1-888-766-6390 ● www.dupuislangen.com

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2011


you are faced with the daunting task of planning for retirement. With volatile equity markets and a low interest rate environment, you may be wondering how to secure a guaranteed retirement income, protect that capital you spent your life building and minimize the taxes you will face on income going forward. These are all components of a comprehensive financial plan that can help you structure your retirement income so it’s: •  tax effective; •  protects your capital with guarantees without going broke slowly over time investing in 2% GICs; and •  plans for the legacy you will likely leave behind for loved ones or charities. What’s the best way to save for my children’s education? RESPs are the first things that come to mind given the guaranteed 20% return you get with the government grant on contributions up to $2,500 per child. BUT there is an advantage to saving inside your corporation that could provide an extra $11,253 to spend on education (assuming you have 18 years of saving).

What things should I know before I sell my business? Understand the differences between a share sale and an asset sale and how it might affect your asking price. Share sale: You sell the shares of your incorporated company and everything in it. Asset Sale: you sell everything your company owns but not the company itself. A share sale can qualify for the $750,000 lifetime capital gains exemption. The deduction can be claimed against taxable capital gains on the disposal by an individual of a: •  Qualified small business corporation •  Qualified farm property •  Qualified fishing property (for dispositions after May 1, 2006) •  a reserve brought into income, from any of the above The 2 main steps you have to take in order to qualify:

(1) The 90% rule: You need to “cleanse” the company of any passive investments above 10%. See the CRA’s T4037 Capital Gains Guide for a more detailed definition. (2) The two-year rule: This is a holding period requirement that states the shares cannot have been owned by any person other than you, a partnership of which you are a member, or a person related to you for a 24-month period that begins after the shares were issued and that ends when you sold them. The capital gains exemption rules are complex and you should seek professional advice if you are hoping to take advantage of this deduction. Long-term planning is necessary to ensure you qualify. There are some situations where an asset sale makes more sense than a share sale, so don’t assume that a share sale is your only option. ◊

“The capital gains exemption rules are complex and you should seek professional advice if you are hoping to take advantage of this deduction”

Canuck Place Children’s Hospice provides pediatric palliative care to children living with life-threatening illnesses and support for their families. Our professional staff offer hospice care as well as community-based counseling and recreational services, accessible to families throughout British Columbia. Your legacy gift will bring comfort and joy to whatever time a child and family may have left together. Contact Christine Matheson at 604.646.1341 or email Christine.Matheson@canuckplace.org.

“Canuck Place Children’s Hospice is where Grace lived, not died.”

2011

For more information, visit www.canuckplace.org Charitable giving and business succession planning   Advocis  |  9


Succession of a family business Clear communication is needed to manage expectations Chris Speakman and Carmen Thériault Partners Bull, Housser & Tupper LLP

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nyone involved with a privately held active business as an entrepreneur or an adviser has probably wrestled at one time or another with succession issues. A successful entrepreneur has built a thriving business and wants to retire, while keeping it in the family. The challenge is to achieve that goal in a way that addresses differing needs and contributions of family members and stands the best chance of preserving the value and legacy of the business for future generations. Typically, many issues must be considered. For example, does the entrepreneur have a child or children who might take on a leadership role? Can ownership be structured so that children can share responsibility, while minimizing the risk of a future battle over control? What if there is not yet an obvious successor? When should professional managers be called upon to fill the gap? How should children not involved in the business be provided for financially? As many have experienced, a planning process ignored, badly thought through or poorly implemented can mean a failed business, embarrassing public feuds and family relationships left in tatters. The planning process But successful business succession takes time. The entrepreneur must educate himself or herself as to the issues and planning options. There will be difficult questions to consider relating to the business and family. Children’s strengths and weaknesses must be assessed, and if there is a potential successor, he or she will need time to acquire the skills, experience and judgment needed to run the business successfully. The development of a

shared understanding and family philosophy surrounding the goals and options associated with the business is also essential. Clear communication on these issues will help educate family members and manage their expectations. The entrepreneur should also develop a team of trusted advisers that could include lawyers, accountants, insurance experts and other consultants; The implementation process The implementation phase may include: •  an estate freeze – an entrepreneur who owns all of the common shares of a private company will control the company and will also own all of the equity in it. A freeze involves having the entrepreneur exchange those common shares for preferred shares of equal value. The preferred shares could be voting or nonvoting depending upon the goals. The company would then issue voting or growth shares or both to other members of the family; •  rather than have family members own shares directly, a discretionary trust could be established to hold them. A trust structure can be very useful in facilitating the succession of a business from one generation to the next and can offer tax and other benefits. The trustees might include one or more of the entrepreneur, his or her spouse or children, trusted friends and advisers. The beneficiaries would be specified family members, and the trustees will often have broad discretion to make distributions to them, so as to provide the greatest flexibility and defer the need for a decision as to the ultimate allocation of control and equity; •  a butterfly reorganization is a tax-deferred series of transactions by which one company can be split into two or more. This can be useful where the company has more than one active business and it is decided that each child will be responsible for and benefit

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from a particular business. It can also be useful where there are active business assets and inactive investment assets and children are to share in those pots in different proportions; •  a shareholders’ agreement may be entered into by family members who own shares and by the trustees of any trust that holds shares. It can address how the company will be managed and financed, how children active in the business will be remunerated and how and when profits will be distributed. It can also impose restrictions on the transfer of shares, consequences arising from a shareholder’s death and dispute resolution mechanisms; and •  if the business is to be sold to a family member, the entrepreneur may wish to ease for the buyer(s) the burden associated with the purchase. One way is to include a lower initial payment with the balance of the purchase price being calculated on an earnout basis. Payments could also be made over time so as to avoid the need to liquidate assets or overburden the company or purchaser with debt. Non-core assets might also be removed from the business prior to its sale or a post-sale consulting contract might be entered into to facilitate the transition. A final thought - who is the team leader? Teams involved in implementing a succession plan can include many people with different skills, but the most successful ones have a clearly identified leader. That could be any of the people listed above. What’s important is that the leader have the skills and experience, and be given the authority needed, to drive the process to a successful outcome. ◊ Chris Speakman and Carmen Thériault, Q.C. are partners of the law firm Bull, Housser & Tupper LLP. Mr. Speakman practises tax and business law. Ms. Thériault chairs the firm’s Wealth Management Group.

2011


Estate gifting strategy The time to act is now

Sean Carey CFP President PPI Solutions (BC) Inc.

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ost Canadians work a lifetime accumulating enough wealth to retire comfortably and have a legacy to leave to their children and grandchildren. In years gone by, this may have meant buying a few stock certificates in a Blue-Chip company or perhaps having some funds held in term deposits. This type of financial plan may have been effective for previous generations, however, times have changed. All-time low interest rates and extreme stock market volatility are just some of the headlines dominating the business news lately. In light of this new reality, what products or strategies should be considered for passing on a legacy to the next generation? Many today are using an Estate Bond or Estate Gifting strategy. Generally speaking, stocks and mutual funds, and the volatility that comes with these investment products, no longer suit the more conservative nature associated with passing money from one generation to the next. On the other hand, taxable low-yielding GICs offer little in return and can be seen to marginally out-perform a straightforward savings account. An Estate Bond strategy involves the purchase of a tax-advantaged Universal Life insurance policy. Universal Life contracts are a form of permanent insurance, providing coverage for your entire life. It is an opportunity to have a guaranteed level cost of insurance for the duration of your life, allowing for excellent financial protection and many estate planning advantages. Part of the UL policy is an investment account which allows for the contribution of assets into this fund in excess of the minimum monthly premium costs required to pay for the policy. The investment earnings become a non-taxable gain, provided the funds are left in the plan. On the death of the life insured, the benefit and investment funds are paid out, tax free to a beneficiary, whether that is a child, a grandchild or even a favourite charity. For example, a 65-year-old non-smoking female investing $6,500 over 10 years could improve her legacy by over 30% at life expectancy, in contrast to the expected return from a traditional GIC. The increased yield associated with these plans is due in large part to relatively low guaranteed level costs of insurance that, up until recently, hadn’t experienced any price increases. However, as with many other sectors of the financial industry, changes are coming soon. 2011

Two main forces are at play in the Canadian insurance marketplace today. The same low interest rate environment that currently affects GIC investors adversely is now starting to affect pricing for these types of insurance products. Lower yields on bonds, the principal investment choice for insurance companies, reduces their ability to earn income that it uses to accumulate assets to pay life claims. Ten years ago, long-term Government of Canada bonds yielded 6.3%, but today they only yield 3.3%. This translates into a significant reduction in earnings. Furthermore, insurance companies are faced with new regulations relating to the reserves they need to hold. The new international standards that Canadian insurers will be required to meet will, as a result of the strong price and benefit guarantees included in most of their

permanent insurance products, require them to put up more capital to support the policy obligations they currently hold. As more capital is required, prices will inevitably increase. One major Canadian insurer has already instituted price increases in December 2010 in the 15% – 20% range. It is commonly believed in the industry that price increases will ultimately be in the 20% - 30% range. If you have investment dollars that you would like to pass on in the form of a legacy gift, speak to an insurance adviser about an Estate Bond strategy. It’s an investment plan that is wellsuited to this type of financial goal. Don’t hold off having that discussion, however, because if you prefer to have strong guarantees, both for your premiums and your death benefits, the time to discuss this option is now. ◊

Kendra Sivertson (left) and Sean Carey, PPI Solutions (B.C.)

BETTER ANSWERS, EFFORTLESSLY. Kendra Sivertson recently adopted the Multi-Carrier Calculator – a new software support tool from PPI Solutions that allows her to illustrate a range of ideas to her clients. This innovative tool is the latest addition to PPI Solutions’ growing suite of advisor support software. It’s easy to use and instantly populates toolkit favourites (like SNAP: Security Needs Analysis Plan or LIFO: Life Insurance Funding Options) with up-to-date comparative values from select carriers’ illustrations. In just minutes you’ll build a customized summary report to present to each of your clients. With a wide choice of powerful solutions, Kendra does the best for her clients and her business.

www.ppisolutions.ca

Keeping our promises with national resources, delivered locally.

Victoria Vancouver Kelowna Calgary Edmonton Winnipeg

Mississauga Toronto Ottawa Montreal Halifax St. John’s

Charitable giving and business succession planning   Advocis  |  11


The unexpected exit Having a plan in case a partner leaves is key to running your company Maria T. Holman, Associate Counsel Boughton Law Corporation

P

eople often find it difficult to plan for the future, especially if that future includes death or incapacity. It is just not something we want to dwell on. The only thing more difficult seems to be planning for an unexpected exit (either by you or another key individual) from your own business. While it is true that (almost) nothing lasts forever, a business can continue for a good long time if a well-thought-out succession plan is in place. On the other hand, nothing can cause a business to fail faster than the unexpected absence of one of the founders. So why is good planning for the future (by that I mean anything more distant than the nearest fiscal year end) so uncommon? Perhaps during the initial flush of excitement and positive energy that comes with starting (or buying) a business, no one wants the downer of thinking negatively. After all, why focus on what can go wrong? Death, divorce, incapacity, ugh! But really, isn’t this early stage an ideal time to get some agreements and plans in place? Everyone is on the same page, with common goals. Start the process by asking yourself a number of critical questions. Who will be involved in the business? Just you, or will there be partners? Will everyone be an equity participant or will some be employees only? What are your hopes for the business? Do you intend to build and sell? Or are you hoping to grow it as a family business? At the outset, the decision to incorporate (or not) needs to be discussed; with incorporation comes the opportunity to create the company’s structure and also the ability to set out the rules for the future interactions among the

shareholders and their families/estates, through a shareholders’ agreement. Even if you decide not to incorporate, a partnership agreement can fulfil the same function. It is true that these agreements are an added expense at a time when money is probably tight, but later events often demonstrate that it was a wise investment. For example, when a partner or shareholder wants to leave the business, or one of the key people dies or becomes incapacitated, what a difference a partnership or shareholders’ agreement can make to the outcome if the tough decisions have already been made. A common example is how would you feel if your business partner dies and leaves her interest to her husband? You know, the one who thinks he knows how a business should be run? Unless there is a plan in place that will allow you to buy the interest from him (and preferably insurance to finance that purchase), you now have this fellow as your new business partner. And if he does not see eye-to-eye with you and the remaining partners/shareholders, your business will likely suffer. Who wants to work hard only to benefit someone who did nothing to help the company grow and who is now causing only discord? Having insurance in place to buy out that interest will remove both the irritant of a difficult relationship and the strain on the company’s cash flow from financing the buyout. As your business grows, there may be opportunities to bring in key personnel with the skills to move things forward. These people may need incentives such as good pay and bonuses, and are often offered ownership in the company as part of the package. But what happens if things don’t work out and you need to fire someone? Again, strong

written agreements (employment agreements, employee ownership agreements) are a vital part of planning for such unpleasant contingencies. In addition to having business-specific agreements and structures in place, it’s also a good idea for you, as a business owner, to ensure that personal planning documents are up to date. These include an up-to-date will and an enduring power of attorney. For example, what if you become ill or are injured and cannot work? Is there a power of attorney in place so someone can take over running the business during your absence? You could appoint one of your business partners (or a trusted business adviser) to deal exclusively with business matters, leaving your spouse to deal with personal finances, for example. Do you have a will? If not, who gets to vote your shares if you die? Without a valid will, someone has to apply to court for the right to act as your personal representative, and until that happens, your shares, and potentially the ability for business decisions to be made, will be in limbo. I remember a case where the business owner died without a will, his wife wanted no part of looking after the business and refused to apply for administration of his estate, and the resulting mess took years to sort out. Many other people who had interests in the company, but no ability to vote shares, suffered as a result. Getting a business going (or finding the right business to buy) is just the start of the process. As a new-business owner, take a few moments to reflect on what would happen if you were suddenly removed from the picture. Talk to your advisers – your lawyer, your accountant, your insurer and the other professionals who can help you. Put the pieces in place now, and then you can get on with growing the business. ◊

Business goes on, even though other things don’t. Are you prepared for all eventualities? At Boughton, we have the expertise to advise you on all your business planning and Tax, Contracts and Employment law - working together seamlessly to pre-empt and address any issues that might arise. Don’t leave it to chance. Call us now and get the right team on your side. 700-595 Burrard Street, Vancouver, V7X 1S8

12  |  Advocis  Charitable giving and business succession planning

t: 604.687.6789

e: info@boughton.ca

www.boughton.ca

2011


Life and business: %@#$ happens Keith Leech, CFP, CLU, CHFC, RHU President, Context Planning Ltd.

O

h, the best-laid plans. Many business succession plans are diligently drafted to cover off two major events: an owner’s premature death and the sale of the business/retirement. Unfortunately, with business as with life, %@#$ (“stuff”) happens and people are left muttering, “We didn’t see that coming” and asking, “Could we have managed the risks better?” Let’s be clear, well-researched quality life insurance is an absolute necessity for business owners as the financial devastation in the event of death is too significant to overlook. The question is what other “stuff” could happen to derail a business owner and thus their business plans before their exit? The answer is a major health event that does not cause death. A 45-year-old male has approximately a one-in-three chance of suffering a disability of greater than 90 days and also a one-in-four chance of suffering a critical illness such as cancer, heart attack or stroke before the age of 65. But forget my stats; most people in their gut know that a major health scare/event is quite likely, yet unfortunately many do not know of the tools such as disability and critical illness insurance that are available to manage that health risk.

2011

Disability Insurance: Most people think disability insurance planning starts and stops with a group benefit plan that helps replace their lost income should they not be able to work. While that may be true for some employees, a disability to a business owner comes with differing financial impacts. Business owners should investigate business overhead insurance that pays a business’s fixed expenses during a disability, as well as disability buy-out insurance that can provide a lump-sum benefit to fund a buy-out of a disabled business owner. Business owners should also confirm that their regular disability plan sufficiently covers the size and type of income they earn, as many plans have maximum monthly benefits or restrict income that is insured to salaried T-4 income.

claim over a fixed period of time.

Critical Illness Insurance: This product, which pays out a predetermined lump-sum on diagnosis and survival (typically 30 days) of a major illness like cancer, heart attack or stroke has been gaining tremendous momentum, especially with business owners. The appeal is that it does not require the owner to stay away from running their business to collect. These plans can be structured to pay either the company or the individual, and the funds can be used as they see best, be it accessing world-class care to funding the hiring of interim talent during their recovery. Some plans even provide for a full return of premiums paid should the owner not

Directions or GPS: A plan that addresses only succession on death or sale/retirement is similar to being handed driving directions in a strange city. Provided nothing happens to get you off track along the way, you will arrive as planned. Layering in quality disability and critical illness planning is like being handed a GPS so that if a major health hiccup happens, your plan can “recalculate, recalculate” and get you back on track, back on plan. ◊

A cautionary word: With life insurance, although there are many product types, the actual definition of “dead” is the same. With disability and critical-illness insurance, this is not the case, and thus significant time should be invested in sourcing the most appropriate coverage. For example, unfortunately many disability plans only pay if the person cannot and does not work at all. This can be especially punitive for business owners who often drag themselves to work for partial work days during a legitimate disability. These total disability-only contracts are akin to owning car insurance that would only pay if you totalled your vehicle or fire insurance that only would pay if your whole house burnt down.

Keith Leech is an independent insurance advisor, focused on helping people manage risk. He can be reached at kleech@contextplanning.com.

“Significant time should be invested in sourcing the most appropriate coverage”

Charitable giving and business succession planning   Advocis  |  13


Succession – The Softer Side Consider technical as well as personal dynamics for a smooth transition

Glenn Murray CFA President & Portfolio Manager Covenant Capital Management Inc.

F

amily businesses face a lost opportunity for the successful transition of their business if they view succession as an event rather than a process. With increasing regularity, succession planning primarily focuses on the technical and legal issues at the expense of personal and family dynamics. Through the introduction of an integrated, holistic process a family can be better positioned for the successful transition of their business and personal fulfilment in their next stages of life. A holistic planning approach focuses on both the technical and personal dynamics within succession. It deals with the issues associated with the current generation, the next generation, management and ownership, while developing an understanding of the key participants, their roles, skills, goals and the key factors influencing them. Succession planning typically focuses initially on the current generation and considers the strategic tax issues, the appropriate legal structures along with their personal finances and estate. Too little attention is often paid to the current generation’s need to determine what life will look like after leaving the business. This is a critical component of a successful succession plan. Leaving the business will often create a void, which, if left unfulfilled, can result in the current generation not being able to separate their personal identity from the business. Any plan is incomplete without a clear understanding of how the current generation will maximize their skill set and time, to generate a sense of fulfilment outside the business. To further enhance their ability to separate, they need to create a clear cash-flow plan that meets their objectives and has limited reliance on the continuing success of the business. If there is too much of a reliance on the business performance in order to support their lifestyle, it will inhibit the next generation, or new

management, from the freedom they need to move the business forward. The best transition for the business is not always a family transition. However, if a family transition is the desired outcome then particular focus must be placed on the next generation. A predefined outcome should not exist for a succession plan to be effective. Often the current generation has already decided who will run the business and how that should look. Engaging the next generation in the process must provide the opportunity for them to be released from an obligation to work in the business. With no pre-defined outcome, the process has the freedom to move toward a viable succession. Similarly, business participation and ownership for the next generation should not be viewed as an entitlement, and therefore a clear plan for building their skills and expertise should be a part of the strategy. Growing up in the shadow of the success of parents or relatives typically comes with both personal and professional issues. In order for the successors to build confidence and to ease the transition with employees, it is often helpful to gain experience through outside employment prior to joining the family business. Further to this they should receive mentoring, although not typically from the parent, as well as the transition of knowledge and key business relationships. The more confidence they can gain in an outside environment, the greater the potential for a successful transition. A plan can provide a platform for the development of skills and experience, but each individual also has their own natural gifts. These need to be considered when integrating them into the business, especially as they will likely possess a different set of talents to that of the current generation. The management team surrounding the successor is important to the outcome of any succession. For this reason a clear knowledge of their expectations, skills and motivations must be understood and integrated into the strategy. Plans can be derailed by unrecognized expectations or motives of

non-family employees. However, with the right team in place, the platform for success is enhanced. Through this process, it may be determined that employees or management with complementary skills to the successor, should be hired to support them. The current generation’s financial affairs are typically the primary focus of the planning, while the finances of the next generation may be overlooked. This can be a mistake, especially if the business has a significant value. The plan must include a focus on the personal financial situation and needs of the next generation, to ensure they are equally equipped to deal with the financial and management aspects of ownership. While a technical succession plan should effectively transfer ownership legally, it will fall short of properly preparing the family for the full impact of the transition. The development of a governance structure within the family will provide a platform for communication and conflict resolution, particularly where ownership extends beyond those simply working within the business. This governance may include a family vision to provide a common purpose and direction, a code of conduct to define expectations, and family counsel to support the vision and the individual interests. Business succession is typically ignored to deal with the current urgent business needs, but the temptation to procrastinate should be avoided. Achieving a successful transition takes time and energy, and one professional cannot accomplish a holistic plan of this nature. Rather, it requires the expertise of a team of professionals in disciplines such as wealth management, financial and estate, legal, and business succession that also understand and focus on the complex family dynamics. Covenant Family Wealth Advisers provides holistic counsel in the areas of Financial and Estate Planning, Wealth Management, Philanthropy and Family Business. All Investment services are provided by Covenant Capital Management Inc. Covenant Capital Management Inc. provides discretionary money management services in the provinces of BC, ON, QC and AB. ◊

“The plan must include a focus on the personal financial situation and needs of the next generation”

14  |  Advocis  Charitable giving and business succession planning

2011


STRONG

ROOTS READY FOR

SUCCESSION Planning with Purpose Covenant Family Wealth Advisors helps you transition the established, deep roots of your business into a lasting legacy. We use a Christian perspective to develop personalized Holistic Stewardship Plans that encompass your financial and estate plans, wealth management, philanthropy and family business succession. Our supportive life counsel will help you make the best decisions every step of the way.

WWW.COVENANT.CA PHONE 604.546.1100 TOLL FREE 1.888.629.0044 EMAIL info@covenant.ca


The value of corporate-owned life insurance …is not just in the death benefit

Brenda McEachern, BComm LLB TEP Estate and Tax Consultant Canada Life

A

very well known Canadian business owner, who is now deceased, learned at an early age that the cash values in his permanent participating whole life insurance policy provided him with the leverage required to grow his business into a multimillion-dollar organization. At several critical junctures for his business, when no other corporate assets were available, he assigned the corporate life insurance policy as collateral and his business successfully grew to the next level. Corporately owned life insurance is primarily used to provide risk protection. Whether it is term insurance or minimum funded universal life, it is a cost-effective method of providing a tax-free lump sum at the business owner’s death to pay off debt, satisfy tax liabilities or replace future income. However, cash value participating whole life insurance can do so much more during the business owner’s lifetime: The cash values remain on the corporate balance sheet as a corporate asset. Unlike

term insurance premiums, which disappear, a large portion of participating whole insurance premium stays on the balance sheet. This means that the debt/equity ratios remain intact, and borrowing capacity is preserved. Cash values grow inside the contract on a tax-exempt basis. In comparison to traditional corporate savings investments, which are exposed to annual tax at a passive investment tax rate in 2011 of 44.67%, funds deposited into an exempt-life insurance policy that are in excess of what is needed to fund the policy premiums can grow tax-free within the policy Cash values can provide emergency rescue funds if the company is in financial difficulty. If the bank won’t lend any more money or demands repayment of its line of credit, the company can finance through the insurance company by exercising its contractual right to take a policy loan against the policy cash values. They can be used as collateral to finance growth or expansion. The company can leverage against the cash values just as it would against any other asset. When the loan is repaid, the company still has the policy cash values. They can fund a living buyout. Cash values

can be withdrawn to cash out a departing shareholder, without surrendering the entire insurance contract. They can provide a retirement income stream. Cash values, together with the annual dividend, can provide an annual income stream in retirement and still leave a significant tax-free lump-sum death benefit that can flow out of the corporation’s capital dividend account to pay the estate tax liability. Term insurance premiums are a liability. Participating whole life insurance premiums are an asset. The business owner who buys term insurance and lives has nothing to show for her term insurance costs. The business owner who owns participating whole life and lives has used the premiums to build a significant corporate asset that is integral to the business. Viewed in this way, cash value participating whole life insurance is an active, working business asset. It can be crucial to the company’s success. It provides flexibility, tax efficiency and accessibility that term insurance does not. Cash value participating whole life insurance is how successful entrepreneurs build successful businesses. ◊

“Term insurance premiums are a liability. Participating whole life insurance premiums are an asset”

Participating life insurance with Canada Life Long-term, stable coverage built on a core of basic guarantees. Choose from: • Wealth Achiever • Estate Achiever For more information on participating life insurance products, contact the British Columbia regional marketing centre at 1-800-663-0413.

16  |  Advocis  Charitable giving and business succession planning

2011


Can building model cars build stronger communities? Surprising results set Vancouver Foundation on a new direction

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hich will kill you first: smoking three packs of cigarettes a day, being morbidly obese or being totally alone? Astoundingly, being alone is about as bad for your health as a three-pack-a-day habit or a serious weight problem. And by “alone” we’re not talking about solitary confinement. We mean the kind of “aloneness” many of us experience, where we don’t know our neighbours, are too busy to join clubs, and spend more time commuting or in front of a computer than with family and friends. That aloneness is costing us – and not just in our health. That’s one of the surprising findings of a recent Vancouver Foundation consultation exercise. The Foundation wanted to find one or two community issues we could focus additional energy and resources on to have a greater impact. So we spoke to a wide range of people and organizations in Metro Vancouver. We expected people would talk about homelessness or poverty, mental illness, an aging population, the cost of living or transportation issues; and we did hear about these concerns. But we didn’t expect so many people to say that what concerned them the most was a growing sense of isolation and disconnection in our community. They felt we increasingly live in silos, separated by culture, race, language, income, age and even geography. They believed we are becoming less engaged with each other and in the life of our neighbourhoods. People told us they believed this lack of connection and engagement hurt them personally and hurt their community. They were worried that we couldn’t address the complex, larger issues such as homelessness, poverty and climate change without a connected and engaged citizenry. So we looked deeper into these concerns – and we found people’s impressions were right. Research shows that crime rates are lower in neighbourhoods where people know each other’s names. People who are connected are healthier and happier; they experience

2011

PHOTO: TIFFAny BROWn COOPER

Faye Wightman President and CEO Vancouver Foundation

Doug Harder used a small grant from Vancouver Foundation to offer a free model-making course for kids in his diverse Burnaby neighbourhood. The course built model cars but, more importantly, it built the kinds of connections that make communities healthier.

less depression and less substance abuse. Communities that are connected have fewer suicides, lower teenage pregnancy rates and less child abuse. So why are our community connections fraying? Many of us commute long distances. The more time we spend in our cars, the less likely we are to be socially active. In Metro Vancouver, the cost of housing is so high that both parents usually have to work, meaning less time for social engagement. We also live in an area with growing diversity. We are right to be proud of this. But there is a downside. Research shows that people are retreating into ethnic enclaves. They interact less with other members of the community and have less trust for people who are different. The good news is that we can reverse this trend. It can be very small things that build bonds between people and bridge barriers of difference such as culture, language, age and economic status. Here’s one example. The Edmonds neighbourhood in South Burnaby is socially and culturally diverse, with a high-proportion of low-income families and new immigrants. One resident, Doug Harder, noticed that many neighbourhood kids didn’t have opportunities for creative play. So with a small grant from Vancouver Foundation, he started a free modelmaking class that attracted 30 kids and their parents.

The youngsters had an opportunity to build something from scratch with their own hands. It taught them concentration and gave them a sense of pride. Their parents, all from different backgrounds, sat side by side, made models with their kids. For the first time, they had a chance to speak with and get to know their neighbours. Lastly, for Harder, it gave him a chance to become an engaged citizen: to solve a local problem and contribute directly to his community. We believe Harder’s class has built positive connections that will last long after the grant. More than two million people call Metro Vancouver home. We are so close together, yet so far apart. We’re not all the same, but we all crave a sense of connection. Strengthening people’s connections with and engagement in their community is what Vancouver Foundation will focus on over the next few years. We know it won’t be easy, but we also know it’s very doable. Deceptively simple projects, like Doug Harder’s model-making class, can, and will, make a difference. As Peter Block said in his book Community: The Structure of Belonging: “What makes community building so complex is that it occurs in an infinite number of small steps, sometimes in quiet moments that we notice out of the corner of our eye. It calls for us to treat as important many things that we thought were incidental.” ◊

Charitable giving and business succession planning   Advocis  |  17


The silent capital gain Careful planning and looking at options can reduce the impact of this fee

Don D. Eyford CFP, CLU, CHFC, CHS Chairman of Signet Financial President of The Eyford Insurance Group Ltd.

A

ll health-conscious people know of high blood pressure being a silent killer. Vigilance and corrective actions can prevent strokes and death, if acted upon in a timely manner. In a similar way, the capital gain tax that is payable by the estate on the family cottage, when the second of mom and dad die, comes as a shock to the family members. For instance, and this is not unusual, the lovely little cottage by the lake might have cost mom and dad $50,000 when they purchased it in 1968. The children, and now their children, all take turns enjoying the fresh air and ambience. Even after dad died, mom and all of the family members carried on as ever, until mom died. Everyone knew that values had gone up, but $1,550,000 – the new appraised value – provided both a delighted surprise and then shock when the tax man came calling. A deemed disposition of the property occurs when the second spouse dies, and the capital gain payable by the estate was $325,000!

If mom and dad, or even one of them is insurable, there is a life insurance policy available with which to pay this bill with after tax dollars. The premiums are determined by the ages of the parents, their health at time of issue, and the face amount. In many instances the children collectively pay the premium, a very good investment in any event, in order to keep the cottage in the family. There are additional benefits flowing to the heirs from this arrangement: •the proceeds are income tax free; •there will be no probate fees levied on the face amount, and the insurance proceeds can be protected from creditors; •the policy can be constructed to allow premium deposits in addition to the

guaranteed minimum required premium to be paid into the plan. In this event the policy can be marked paid-up earlier than scheduled. The accumulating additional premiums grow in an income tax sheltered fund, and are paid out income tax free on the second death. •one last benefit, if additional funds are deposited, upon the event of the first death, the surviving insured, or the owners (if the children), can withdraw all of the funds in the additional account income tax free. Providing solutions to these types of situations is what we do. If you would like more information, or if you think there is someone we should talk to, please let us know. ◊

“The capital gain tax that is payable by the estate on the family cottage, when the second of mom and dad die, comes as a shock to the family members”

A pArtner you cAn trust Desjardins Financial Security is part of Desjardins Group – ranked as the 4th safest financial institution in North America,1 with more than a century of experience. A leader with the most comprehensive and evolving range of life and health insurance, savings and retirement products for individuals, groups and businesses. desjardinsfinancialsecurity.com Group Retirement Savings 1-866-269-6389 ForesightSolution.com 1

2011 survey by Global Finance.

18  |  Advocis  Charitable giving and business succession planning

Individual Insurance and Investment 1-800-685-7223, option 1

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proDuct: group retirement sAvings And individuAl insurAnce Size: 7,1’’ X 2,33’’

2011


Smart planning strategy Recycle corporate-owned insurance for charitable bequests

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any corporations are often faced with a decision as to what to do with the life insurance they have held on a shareholder or key employee when that shareholder or employee leaves the company. There is an argument to be made that the insurance should be maintained in order to provide a financial benefit to the company and/or its shareholders. The reasons for doing this include the following: n   the company has an opportunity to recover the funds that were paid out to retire the shareholder by redeeming or repurchasing his or her shares. Similarly, it could recover all severance costs that were paid to a key employee who is leaving the company; n   there is an opportunity to continue to use the insurance contract on the departing individual to accumulate tax-deferred investment contributions that could result in a tax-free payment to the corporation when the insured dies; n   there is an opportunity for the remaining shareholders to receive tax-free dividends from the company’s Capital Dividend Account created by the life insurance proceeds; n   in the future, it may be an option for the company to sell the policy to an investor. This option is currently not available in B.C., but is viable in other jurisdictions; and n   there is an opportunity for the company or its shareholders to make a tax-deductible donation to a charity of their choice. Once an individual who has been life insured by the company leaves its employ, the directors of the corporation should now

consider the insurance policy as a financial asset and make decisions about its use just as they would any other financial asset. One of these decisions may be to designate the insurance policy as part of the company’s philanthropic objectives. This can be done in a number of ways, and the following is only a sample of the methods available. The company could designate a charity as the beneficiary of the policy and receive the charitable tax receipt for the full death benefit when the insured dies. Alternatively, the company could remain the beneficiary and then decide at the death of the insured to which charity the proceeds will be paid. This would allow more choice and discretion as to which charity will receive the bequest. Should the shareholders wish to make the donation personally, then they can elect to have the death benefit paid out to them through the capital dividend account and use the proceeds to make the donation to the charity of their choice. The capital dividends are received tax free, and a charitable receipt will be provided to the individual donors for the full amount of the donation. The corporation could also transfer the ownership of the policy to the charity with a pledge to pay the premiums when they come due on behalf of the charity. Should the policy have value (cash value or other considerations) at the time of transfer, the company will receive a donation receipt for it. There will also be a future issuing of charitable donation receipts as the corporation pays the annual premium due on behalf of the charity. There is no receipt issued for the proceeds of the life insurance in the year of death. If the policy in question has a cash surrender value, the company could also

reduce the face amount of the policy to change it to a fully paid-for policy with no future premiums payable. The policy could then be transferred to a charity with a charitable receipt being issued for the amount of the cash surrender value at the time of the donation. As no further premiums would be payable, no further receipts would be forthcoming. Sometimes more sophisticated strategies are employed that benefit both the charity and the corporation or its shareholder(s). One of these strategies is the insured corporate annuity. This concept involves the purchase of both a life insurance policy and an annuity. The annuity provides income while the life insurance proceeds funds the charitable donation. In addition, there may also be a bank loan used to return to the corporation the working capital that was employed to purchase the annuity. Under ideal circumstances, the combination of these elements produce positive cash flow to the corporation or its shareholder that can be used to fund the donation while the bank loan is retired at death from the proceeds of the life insurance policy. These more sophisticated strategies require significant scrutiny to determine whether or not they are appropriate in each specific situation. When purchasing a life insurance policy on a shareholder or key employee, a corporation should determine as far in advance as possible the long-term ultimate use of that policy should there come a day when the coverage is no longer required for its original intent. By using the proper form of insurance, significant financial and charitable opportunities may result. ◊

Graduates of the Family Enterprise Advisor Program from the UBC Sauder School of Business

Peter G. Lamb B.A., CLU

2011

Mark A. Zlotnik C.A., CLU

Jack J. Shaffer CFP, CLU

Bruce K. Berger B.A., CFP

Charitable giving and business succession planning   Advocis  |  19


Modern will planning with testamentary trusts Understanding the benefits can save you thousands of dollars in income tax Table 1: Without a Testamentary Trust Rick Montens, TEP Partner Richards Buell Sutton

Tax bracket

Rate (Combined federal and B.C. provincial rates on interest income for 2011)

Extra income from inheritance

Extra tax payable

$72,294 - $83,001

32.5%

$10,001

$3,250

$83,002 - $83,088

34.3%

$86

$29

$83,089 - $100,787

38.3%

$14,913

$5,711

$25,000

$8,990

TOTAL:

A

s an alternative to outright bequests in a will, a testamentary trust can address a host of estate planning objectives. Traditionally it’s been a vehicle of choice when providing for beneficiaries either disabled or considered spendthrifts. More and more however, testamentary trusts are established to meet broader, more strategic, and enduring family goals. A “testamentary trust” will take effect after the creator of the trust has passed away, and is typically created by a will, but can also arise from insurance or RRSP/RRIF proceeds. A “discretionary trust” permits trustees to pay varying amounts to one or more beneficiaries as they see fit. The use of a testamentary trust in a will, so that it is also a discretionary trust, can provide a powerful combination for beneficiaries. Consider the hypothetical Mr. and Ms. Smith, who have one adult daughter, Suzanne, who has two minor children. In

reviewing their family objectives with an estate professional, Mr. and Ms. Smith determine that on a last-to-die basis, their remaining assets should be left to Suzanne in a testamentary discretionary trust (the “Suzanne Fund”). Suzanne will be the trustee and she and her children will be the beneficiaries. This testamentary trust planning would provide the following benefits: 1. asset protection; 2. income splitting; and 3. control and flexibility. 1. Asset protection With a discretionary trust, a beneficiary has no direct ownership interest in the assets of the trust. As such, it can be very difficult under normal circumstances for any third-party creditor to attempt to claim or seize a beneficiary’s interest under such a trust. This would provide

Mr. and Mrs. Smith peace of mind that Suzanne’s inheritance will not necessarily be executed upon if Suzanne had previous judgments against her or if she were in an occupation at greater risk for litigation. 2. Income splitting Income splitting is a process of shifting income from the hands of one taxpayer to another or others who may pay tax at a lower rate, which can produce significant savings. A testamentary trust is considered a separate taxpayer and will be taxed at the same graduated tax rates as an individual, although no individual tax credits may be claimed. Suzanne already makes $73,000 per year from her employment, and her inheritance is expected to be $500,000. If she received this inheritance directly and placed it into guaranteed investments earning 5% per year, she would make an

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20  |  Advocis  Charitable giving and business succession planning

2011


Table 2: With a Testamentary Trust Tax bracket

Rate (Combined federal and B.C. provincial rates on interest income for 2011)

Extra Income from inheritance

Extra tax payable

$0 - $36,146

20.1%

$25,000

$5,025

additional $25,000 personally each year from her inheritance, on top of her salary. This extra income would be taxed at the 32.5% to 38.3% combined federal and B.C. rates for 2011, causing Suzanne to incur an additional $8,990 each year in extra income tax. (See Table 1) By contrast, if Suzanne received the same $500,000 in the Suzanne Fund, instead of outright, and the Fund earned the same amount of $25,000 per year, the resulting tax payable would be only $5,025 at the combined rates. This is because the extra $25,000 would be taxed in the lowest tax bracket (20.1% for income up to $36,146 for 2011). (See Table 2) The overall tax savings would be almost $4,000 annually ($8,900 - $5,025 = $3,965) between the two inheritance methods. While a tax return would need to be filed annually for the fund, the savings would still be significant every year. The Suzanne Fund could reduce taxes further by dividing its income among beneficiaries who have little or no income of their own. For example, the basic

personal amount ($10,527 in 2011) could be allocated to each of Suzanne’s two minor children. Providing those children had no other income, they would have no tax payable on the amounts claimed on their returns. The income amount to the children of $21,054 ($10,527 x 2) could then be deducted from the Suzanne Fund’s income of $25,000, which would bring the amount of tax owing down from $5,025 to a mere $793 ($25,000 - $21,054 = $3,946 x 20.1%). 3. Control and flexibility Suzanne would be the trustee of the Suzanne Fund, a discretionary trust, which would give her the power to decide which beneficiary or beneficiaries would receive amounts, how much and when.

Furthermore, the longevity expected for the fund is Suzanne’s lifetime, and therefore this fund should have flexible provisions for long-term operational use. Examples of such provisions could include giving Suzanne the power to appoint future trustees if she could no longer act and providing Suzanne with the ability to direct the distribution of the Suzanne Fund upon her death. Conclusion The use of testamentary trusts can provide many advantages, permitting beneficiaries of all kinds to receive their inheritance in a better vehicle, and we recommend that their use be explored in will planning. ◊ Rick Montens is a partner with B.C.’s oldest law firm - Richards Buell Sutton LLP. He is the leader of the firm’s Wealth Preservation Department, specifically dealing with Estate & Trust Administration and Personal Estate Planning. Rick can be reached at 604.661.9245 or rmontens@rbs.ca.

“The use of testamentary trusts can provide many advantages, permitting beneficiaries of all kinds to receive their inheritance in a better vehicle”

BCIT matters.

Wherever you are, a BCIT grad is making an impact. Support the future generation of BC’s workforce with a gift in your will to the BCIT Foundation. Contact Crystal Montecalvo at 604.453.4090.

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2011

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Doing well by doing good Tax-effective strategies for building your charitable legacy called Bulembu. when you are ready to make those decisions. Bulembu currently cares for 250 children between ■ The convenience and flexibility of a PGF account the ages of four weeks and 18 years who have been allows you to make substantial contributions to orphaned as a result of losing their parents (mostly your account in profitable years and to sustain a John Nicola, to AIDS). While Bulembu is building long-term similar level of giving to your favourite charities in CLU, CHFC, CFP infrastructure to make itself sustainable financially, leaner times. Chairman & CEO, Nicola it will need support for at least a decade to achieve ■ Donations can be made in cash or in kind. Wealth Management those goals. In-kind donations include mutual funds, stocks, Joan annually commits $5,000 to Bulembu and shares of private corporations, bonds, real estate another $5,000 to other charitable organizations. property, etc. Each year, Joan receives tax credits for her generosity ■ Any potential asset growth in the PGF account any of you are committed to supporting that amount to approximately $4,400. She has also accumulates tax-free, offering the potential for a number of charities each year. You have changed her will to leave special bequests to all of her greater charitable grants in the future. spent a good deal of time understanding their ■ Contributions provide tax savings up front objectives and learning their needs. Your support charities totalling $200,000. We are Joan’s financial advisers and wealth that amount to a tax deduction of approximately makes it possible for them to accomplish the great managers. In a recent meeting with her, I suggested 43.7%! work that they do. she consider establishing a donor advised account. In Joan’s case, I suggested we do the following However, “It takes two to tango.” First I described the steps and then went over the to create her legacy donor advised fund: Have you thought about the prospective 1. Transfer $200,000 from her non-registered buyer’s needs? If you haven’t, it’s likely that all your benefits to both her and her charities. A Donor Advised Account is an account investment accounts to her new donor advised planning is moot. established within a foundation to which one can account within PGF (the Dr. Joan Smith Fund). What will happen to that support when you 2. Over the past 10 years, Joan’s balanced portfolio are no longer here? Will you arrange to leave part contribute capital. The account is held in the name of the donor and or their estate, and the contributed has averaged a return of just over 7% per year. of your estate to those same charities through I suggested she plan on withdrawing 5% per your will? If so, what part? Will the money be used capital is invested in a way that generates sufficient year ($10,000/yr) and hope for growth in the wisely? Will it create a legacy that can continue to annual income to meet its objectives for annual giving and ideally grows the capital over time. portfolio over time, allowing her to increase her give long after you are gone to help ensure the In 2003, Nicola Wealth Management created the annual distributions, as well. sustainability of the organizations you want to NWM Private Giving Foundation (PGF) as a public 3. Joan could save up to almost $88,000 in tax this support? foundation to facilitate our clients’ charitable giving. year for establishing this account. We believe that for many generous donors, there is a better way to give that accomplishes the As part of our commitment to encourage our clients’ 4. She can add to the capital of her account increase in their own level of “social capital,” we pay whenever she wishes. This, in turn, will increase following: 100% of all administrative costs for PGF. the funds’ ability to make gifts while continuing ■ a permanent endowment fund that can to be a very attractive tax strategy for Joan. support your favourite charities indefinitely; Benefits of a Donor Advised Account 5. Joan directs how much of her account is ■ higher tax deductions today; and ■ As a donor, you do not have to decide immediately distributed each year and to which charities. ■ the ability to change one’s mind about which on a particular charity in order to obtain a tax receipt. If you believe creating a permanent legacy is a charities to support and to what level. With a PGF account, you obtain an immediate tax great way to support your favourite charities, then What is this structure? It is called a Donor deduction for your charitable contribution and consider using a donor advised fund now. Advised Account. Below is a brief case study that recommend grants to qualified charities at a later time You’ll do well by doing good. ◊ illustrates how these creative structures work to build a permanent charitable legacy for donors. Joan Smith is a successful cardiologist who has “The value of a man resides in what he gives and not in what always been generous in supporting a number of worthy causes. One of her favourite charities is he is capable of receiving” - Albert Einstein an AIDS orphanage in a small village in Swaziland

M

2011

Charitable giving and business succession planning   Advocis  |  23


What do the designations mean? C

hoosing a financial advisor can be one of the most important decisions you’ll ever make. Start by looking for an advisor who’s acquired the skill, experience and education that comes with a professional designation. Here’s a guide to some of the most highly regarded designations in the financial services industry. Certified Financial Planner®, CFP® CFP® stands for Certified Financial Planner®. The CFP® designation identifies individuals who are dedicated to a high level of professionalism in providing financial planning advice. The CFP® credential assures you that those using it have agreed to adhere to the highest internationally recognized standards of competence and ethical practice as set out by Financial Planners Standards Council (FPSC). The CFP® is an internationally recognized credential held by more than 100,000 people in 19 countries

around the world including almost 17,000 in Canada. (Source: http://www.cfp-ca.org). Chartered Life Underwriter, CLU™ A Chartered Life Underwriter (CLU™) is a financial advisor with advanced knowledge in wealth transfer and estate planning. The CLU™ curriculum is comprised of four

courses in Financial Planning Fundamentals, Contemporary Practices in Financial Planning, Comprehensive Practices in Risk & Retirement Planning and Wealth Management and Estate Planning. The last three courses that lead to the CLU™ designation are comprised of Advanced Taxation, Law, and Applied Estate Planning. The CLU™ designation is

internationally recognized in financial services industry and is respected by clients and other professions. The CLU™ designation is 80 years old. The CLU™ designation is recommended to financial advisors who want to meet the financial needs of high net worth clients. The CLU™ designation program is available through Advocis and the CLU™ Institute.

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Chartered Financial Consultant, CH.F.C. A Chartered Financial Consultant (CH.F.C.) is a financial advisor with advanced knowledge in wealth accumulation and retirement planning. Registered Financial Planner, R.F.P. A Registered Financial Planner is a designation awarded annually by the Institute of Advanced Financial Planners (IAFP) to its members who have met and maintained the professional standards as established by the Institute. By earning the R.F.P. designation, IAFP members demonstrate to their clients and their peers that they are highly competent professionals who actively practice a comprehensive financial planning process Registered Health Underwriter, RHU A Registered Health Underwriter (RHU) is an advisor with advanced knowledge in, critical illness, long term care and employee benefits. The RHU advisor has the education and specialized knowledge to provide strategic living benefits advice in order to meet their clients’ personal, business and estate planning needs. The course consists of two semesters and is available through Advocis. Registered Employee Benefits Consultant, REBC An advisor with an REBC designation is versed in group insurance programs, planning for retirement and employee benefits In addition to a designation, you should insist that your advisor belong to a professional association such as Advocis (The Financial Advisors Association of Canada). Advocis is committed to helping its members more effectively serve their clients. Advocis members are dedicated professionals and are required to either possess or be on track to earning a recognized professional designation. 2011

To protect consumers, Advocis also presses governments, regulators, and policy makers to require recognized professional designations of those holding themselves out as financial advisors. Consumers need to know who is qualified to provide appropriate advice, where to get that advice, and where to find redress outside of the costly court system. The more than 10,000 Advocis members across Canada adhere to an established Code of Professional Conduct, subscribe to best practices, participate in ongoing competencybased continuing education requirements, and maintain appropriate levels of professional liability insurance.  That’s what being an Advocis member means.  What does it mean to you, as a consumer?  It means that you can have confidence in your advisor knowing that your best interests will always be the driving force in any advice giving or product transaction. For more information about Advocis, visit www.advocis.ca.

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Charitable giving and business succession planning   Advocis  |  25


Biggest registered foundations in B.C. Ranked by total assets in 2010 Rank '11 Organization

Address

Year Area of focus founded

Top staff executive

Top volunteer executive

Faye Wightman, president and CEO

Gordon $82.34 million MacDougall, board $54.71 million chair $1 million

$748.7 million $721.38 million

$19.27 million $11.34 million $52 million

$177.9 million $169.11 million

1

Vancouver Foundation 555 Hastings St W Suite 1200, Vancouver V6B 4N6 P: 604-688-2204 F: 604-688-4170 www.vancouverfoundation.ca

1943

2

Victoria Foundation 645 Fort St Suite 109, Victoria V8W 1G2 P: 250.381.5532 F: 250.480.1129 www.victoriafoundation.bc.ca Apotex Foundation 700 Georgia St W Suite 2700, Vancouver V7Y 1B8 P: 416-749-9300 F: 416-401-3812 NP

1967

3 4 5 6

Jim Pattison Foundation 1067 Cordova St W Suite 1800, Vancouver V6C 1C7 P: 604-688-6764 F: 604-694-6900 www.jimpattison.com John Volken Foundation 6911 King George Hwy, Surrey V3W 5A1 P: 604-592-3001 F: 604-592-3004 www.johnvolkenfoundation.org Lotte and John Hecht Memorial Foundation 325 Howe St Suite 502, Vancouver V6C 1Z7 P: 604-683-7575 F: 604-683-7580 www.hecht.org

1984

Vancouver Foundation recognizes the complexity of communities and funds a wide array of areas: animal welfare; arts and culture; children, youth and families; education; environment; health and social development; medical research; youth philanthropy and youth homelessness A pool of charitable gifts to create permanent, income-earning funds to benefit the community, supporting charities in the arts, community services, education, environment, health and recreation Scholarships, bursaries, awards, hospitals, places of worship

Sandra Richardson, Steve McKerrell, CEO board chair NP

Revenue '10 Expenditures'10 Liabilities '10

Bernard Sherman, $4.11 million chair and CEO, $19,326 Apotex Inc. $10,000

Assets '10/'09

$107.3 million $109.06 million

NP

The principal gifts made by the charity were in the areas of NP medical/hospital capital programs, Christian independent schools, and other religious activities

Jim Pattison, chair

$14.79 million $5.28 million $5 million

$104.6 million NP

1998

Operators of Welcome Home Society, Lift the Children, Welcome Home for Children, PricePro and PriceCo to provide disadvantaged people with what they need to become self-sufficient, contributing members of society Medical research, economic education and assistance to recipients in need. Investigation and support of complementary and alternative medicine

John Volken, founder Bil Koonar

NP

$10.49 million $7.15 million $9 million

$95.5 million $91.31 million

Angela Webster, executive director

NP

$21.8 million $16.83 million $8 million

$88.6 million $82.76 million

Jill Diamond, executive director

Gordon Diamond, $12.13 million president $7.67 million $283,840

$74.9 million $70.35 million

$6.53 million $3.85 million $212,032

$71.8 million $66.89 million

1962

7

Diamond Foundation 105 Commercial Dr N, Vancouver V5L 4V7 P: 604-255-9301 F: 604-255-3434 NP

1984

Donations to qualified donees

8

Tula Foundation PO Box 309, Heriot Bay V0P 1H0 P: 519-272-9982 F: NP NP

2001

Nature and habitat-conservation groups, research and universities NP and colleges

9

Coast Conservation Endowment Fund Foundation 409 Granville St Suite 1455, Vancouver V6C 1T2 P: 604-684-0223 F: NP www.coastfunds.ca

2005

Long-term fund designed to support activities that maintain or improve the Great Bear Rainforest

Scott Rehmus, CEO Merv Child, board $5.32 million chair $2.45 million $610,664

$68.9 million $64.95 million

10

Audain Foundation 1333 West Broadway Suite 900, Vancouver V6H 4C2 P: 604-877-1131 F: 604-871-4280 NP

1997

Donations to qualified donees in support of the visual arts

NP

$24.68 million $8.02 million $9,970

$66.1 million $48.24 million

11

Aqueduct Foundation 2006 650 Georgia St W Suite 510 PO Box 11538, Vancouver V6B 4N7 P: 604-718-7100 F: 604-718-7152 www.aqueductfoundation.ca Rick Hansen Foundation 1989 3820 Cessna Dr Suite 300, Richmond V7B 0A2 P: 604 295 8149 F: 604 295 8159 www.rickhansen.com

Aqueduct receives gifts from individuals across Canada and makes NP grants to a wide variety of charities at the recommendation of our donors

$21.93 million $41.56 million $183,339

$59.2 million $80.34 million

Finding a cure for spinal cord injury and improving the quality of life for those with spinal cord injury and related disabilities

Terry Didus James Parks Rodney Scheuerman, directors Art Reitmayer, CEO Rick Hansen Lyall Knott, foundation board co-chairs Derek Gent, Barbara McMillan executive director Duncan McPhie, co-chairs

$25.91 million $29.09 million $23 million

$47.8 million $64.58 million

$8.16 million $7.95 million $137,832

$39.3 million $38.99 million1

NP

Greg Kerfoot Lisa Kerfoot Sandra Hancock, directors Ross Beaty, board chair

($15.18 million) $4.96 million NP

$34.9 million $55.01 million

$1.97 million $1.03 million $69,560

$34.3 million $33.37 million

12 13 14 15 16 17

Vancity Community Foundation 815 Hastings St W Suite 510, Vancouver V6C 1B4 P: 604-877-7553 F: 604-709-6909 www.vancitycommunityfoundation.ca Loyalty Foundation 1500 Georgia St W Suite 1555, PO Box 62, Vancouver V6G 2Z6 P: 604-683-7006 F: 604-683-5676 NP Sitka Foundation 650 Georgia St W Suite 510, Vancouver V6B 4N7 P: 604-718-7119 F: 604-718-7152 www.sitkafoundation.org Tides Canada Foundation 163 Hastings St W Suite 400, Vancouver V6B 1H5 P: 604.647.6611 F: 866.780.6611 www.tidescanadafoundation.org Mr. and Mrs. P.A. Woodward's Foundation 1155 Pender St W Suite 710, Vancouver V6E 2P4 P: NP F: NP NP

Eric Peterson Christina Munck

Michael Audain

1989

Primary focus in areas of nonprofit social enterprise, community owned real estate and collaborative approaches to change

2003

Gifts to qualified donees

2008

Support organizations that advance land and nature conservation, Pauline invest in community projects and groups globally, and provide Megannety, leadership in stewardship and environmental education executive director

NP

Our mission is to provide uncommon solutions for the common good by leading and supporting actions that foster a healthy environment and just Canadian society

Ross McMillan, president and CEO

Alan Broadbent, board chair

$14.54 million $13.43 million $3 million

$34.2 million $33.4 million

1967

Providing grants to charitable organizations in B.C. for projects that benefit the health of British Columbians

NP

Leo Sauve, president

$1.15 million $1.23 million NP

$29.4 million NP

18

Rix Family Foundation PO Box 514, Nanaimo V9R 5L5 P: 604-737-7224 F: 604-737-7204 NP

1977

Private foundation supporting universities and colleges, museums, NP galleries and concert halls and hospitals

Laurie Rix, president

$1.29 million $1.73 million $2,693

$28.5 million $29.93 million

19

Access Foundation 1040 Georgia St W Suite 850, Vancouver V6E 4H1 P: NP F: NP NP

1973

Supports performing arts education for disadvantaged children and youth and assistance to disadvantaged individuals living in poverty

NP

Robert Bentall, board chair

$1.12 million $2.46 million $3,700

$27.2 million NP

20

Central City Foundation 304 Cordova St W Suite 206, Vancouver V6B 1E8 P: 604-683-2263 F: 604-683-2205 www.centralcityfoundation.ca

1907

Improving the lives of people in need in Vancouver's inner city by bringing together neighbours helping neighbours build a community of hope

Jennifer Johnstone, president and CEO

John Swift, board $1.93 million chair $2.65 million $7 million

$24.5 million $23.32 million

Sources: Interviews with charities that responded to requests for information and BIV research of Canada Revenue Agency T3010 filings. NR Not ranked NP Not provided 1 - Consolidation of financial statements due to change in fiscal year end

Do not miss the Book of Lists, a compilation of lists featured in BIV, including biggest law firms, construction companies, biotech firms and many more. Free to subscribers ($79.95 plus HST for one year) or $35 plus HST as a separate purchase. Purchase lists as Excel files at www.biv.com/listsforsale. 26  |  Advocis  Charitable giving and business succession planning

Business in Vancouver makes every attempt to publish accurate information in The List, but accuracy cannot be guaranteed. Researched by Richard Chu, lists@biv.com. 2011


Biggest educational charitable organizations in B.C.

Biggest educational charitable organizations in B.C.

Ranked by 2011 expenditures Rank '11

1

Organization Address

Year Area of focus founded

Vancouver Aquarium Marine Science Centre

1956

John Nightingale, Self-supporting, non-profit association dedicated to effecting the conservation of aquatic life through display president and interpretation, education, research, and direct action

Margot Spence, board $41.14 million1 chair $2.82 million1 $29.71 million1

$28.91 million1 $28.91 million

1967

Non-profit organization with more thanexecutive 10,000 artworks in its permanent collection

George Killy, board chair

$6.66 million1 $5.08 million1 $17.66 million1

$17.33 million1 $17.33 million

Nini Baird, board chair $13.57 million $4.55 million $9.97 million

$10.08 million $9.09 million

845 expenditures Avison Way, Vancouver V6G 3E2 Ranked by 2011 Rank '11

P: 604-659-3474 F: 604-659-3515 www.visitvanaqua.org

Organization

Vancouver Art Gallery 2 Address 750 Hornby St, Vancouver V6Z 2H7

1

Year Area of focus founded

Top staff executive

1956 Self-supporting, non-profit association dedicated to Vancouver Aquarium Marine Science Centre P: 604-662-4700 F: 604-682-1086 www.vanartgallery.bc.ca 1967

Non-profit organization with more than 10,000 artworks in its permanent collection

Kathleen Bartels, director

George Killy, board chair

Knowledge Network

1981

B.C.'s public education broadcaster

Rudy Buttignol,

Nini Baird, board chair $13.57 million

P: 604-438-3220 F: NPFund www.leefbc.ca Leading Edge Endowment

2003

The fund's objective is to encourage social and economic Max Cairns, executive development in B.C. through university research chairs director

750 Hornby St, Vancouver V6Z 2H7 P: 604-431-3200 F: 604-431-3387 P: 604-662-4700 F: 604-682-1086 www.vanartgallery.bc.ca

www.knowledgenetwork.ca

Mathissi Pl, Burnaby 4S8 Leading EdgeV5GEndowment Fund 4 4355 P: 604-431-3200 F: 604-431-3387 1188 Georgia St W Suite 900, Vancouver V6E 4A2 www.knowledgenetwork.ca

4 5

director

Margot Spence, board $41.14 million1 chair $2.82 million1 $29.71 million1

845 Avison Way, Vancouver V6G 3E2 P: 604-659-3474 F: 604-659-3515 www.visitvanaqua.org

1188 Georgia St W Suite 900, Vancouver V6E 4A2

F: NP www.leefbc.ca Arts Umbrella 5 P:Arts604-438-3220 1286 Cartwright St, Vancouver V6H 3R8 Umbrella

1981

2003

1979

B.C.'s public education broadcaster

$28.91 million1 $28.91 million

Rudy Buttignol,

$6.66 million1 and$17.33 million1 president CEOmillion $5.08 million1 $17.33 $17.66 million1 $10.08 million

$9.09 million and CEO million The fund's objectivepresident is to encourage social and economic $4.55 Max Cairns, executive $9.97 million development in B.C. through university research chairs director

Arts education for young people

1979 Arts education for young people 1286 P: Cartwright St, Vancouver V6H 3R8 604-681-5268 F: 604-681-5285 www.artsumbrella.com P: 604-681-5268 F: 604-681-5285 www.artsumbrella.com

Martha Salcudean, chair

Lucille Pacey, president Richard Prokopanko, and CEO board chair

$7.01 million $16.54 million $5.02 million $9.29 million $248,458 Lucille Pacey, president

andmillion CEO1 $3.52 $1.66 million1 $4.8 million1

$4.93 million1 $4.93 million

1996 to bring Working withtoeducators bring B.C.'s agriculture Linday BC Agriculture in theFoundation Classroom 1996 Foundation Working with educators B.C.'s agriculture our Lindayto Babineau, Mark Johnson,to our $3.42 million Babineau, $4.18 million Agriculture in the Classroom 6 6 BC students executive director president $2.4 million $4.18 million 1767 Angus Campbell Rd, Abbotsford V3G 2M3 1

students

1767 Angus Campbell Rd, Abbotsford V3G 2M3 P: 604-556-3088 F: 604-556-3030 www.aitc.ca/bc

P: 604-556-3088 F: 604-556-3030 www.aitc.ca/bc

7

Western Canadian Universities Marine

Operates the Bamfield Marine Sciences Centre, a

8

109 11

10

12 1311 14

12

15

13

16

Bradley Anholt, director NP

P: 604-676-8250 F: NPStwww.hippycanada.ca 3201 - 30th Suite 102, Vernon V1T 9G9

Irving K. Barber BritishF:Columbia Scholarship 2004 P: 250-545-0585 NP www.noees.com Society

Provides scholarships to students attending postsecondary institutions

Fort St Suite 109 , Victoria Family V8W 1G2 Pacific Centre Services Association 15 645 P: 250-381-5532 F: 250-480-1129 2849 Peatt Rd Suitewww.bcscholarship.ca 103, Victoria V9B 3V5 4

19

$6.76 million1 $3.55 million1 $2.63 million1 Anholt, $3.55 director million Bradley $3.58 million1

operations coast of CanadaPeter Silvanovich, PO Box 100for Bamfield V0R 1B0 ethical recycling of computer $1.24 million2 Mary-Em Waddington, $2.68 million 1995 To practice waste on by the west BC Technology LearningMarine SocietySciences, Bamfield president and board executive director $3.49 million providing refurbished computers for students and $18,597 6741 P: Cariboo Rd Suite 206, F: Burnaby V3N 4A3 250-728-3301 NP www.bms.bc.ca chair Wayne Johnson, learners of all ages, and give youth interns job skills in $3.15 million P: 604-250-9936 F: NP www.cfsbc.ca operations manager team-building and Mary-Em Waddington, To mentorship practice ethical recycling of computer waste by BC Technology for Learning Society hardware repair, 1995 $1.96 million 1998 Founded to help people develop science and knowledgeChris Hollstedt, CEO Grant Parnell, chair $1.39 million Forrex Forum for Research and Extension in executive director providing refurbished computers for students and 6741 Cariboo Rd Suite 206, Burnaby V3N 4A3 $2.3 million based solutions to complex natural resource challenges Natural Resources Society Wayne learners of all ages, and give youth interns job skills in $209,356 P: Ave 604-250-9936 F: NP $1.95 million Johnson, 235 1St Unit 702, Kamloops V2C www.cfsbc.ca 3J4 operations manager hardware repair, team-building and mentorship P: 250-371-3746 F: NP www.forrex.org 1 1 Jan Bell-Irving, Manning, board $2.73 million 1955 World’sin largest organization to educating $1.8 million Junior Achievement of BC 1998 dedicated Founded to help people develop scienceTimand knowledgeChris Hollstedt, CEO Forrex Forum for Research and Extension president and CEO, JA BC chair young people about business. Our three educational $1.21 million1 $1.8 million 475 Georgia St W Suite 110, Vancouver V6B 4M9 solutions to complex natural resource challenges $2.1 million1 NaturalF: Resources pillars for student success: workbased readiness, P: 604-688-3887 NP www.jabc.org Society entrepreneurship and financial literacy 235 1St Ave Unit 702, Kamloops V2C 3J4 Nancy Noble, CEO Hilary Meredith, board $5.25 million1 Creates Vancouver-focused exhibitions and programs, $1.79 million1 Museum of VancouverF: NP www.forrex.org 1894 P: 250-371-3746 chair which encourage dynamic conversations about what was, $5.52 million1 $1.79 million 1100 Chestnut St, Vancouver V6J 3J9 1 is and can be Vancouver $1.45 million P: 604-736-4431 F: 604-736-5417 Jan Bell-Irving, 1955 World’s largest organization dedicated to educating Junior Achievement of BC www.museumofvancouver.ca president and CEO, JA BC young people about business. Our three educational 475 Georgia St W Suite 110, Vancouver V6B 4M9 Ali Wassing,work executive Ron McRae, president $832,5361 2001 Literacy services to communitiespillars within the $1.65 million1 Columbia Basin Alliance Literacy forColumbia student success: readiness, 604-688-3887 F: For NPV0Awww.jabc.org director Basin with programs ranging from early childhood to $454,5511 $1.65 million 1535 P: - 14th St RR 4 #2, Invermere 1K4 entrepreneurship seniors computers, English as a Second Language and and financial literacy $1.46 million1 P: 250-342-3210 F: 250-342-9221 www.cbal.org volunteer tutoring Nancy Noble,$1.6 CEO 1894 Creates Vancouver-focused exhibitions and programs, MuseumSpace of Vancouver 1968 To educate, inspire, and evoke a sense of wonder about Rob Appleton, executive Eric Pringle, president $350,5981 million1 HR MacMillan Centre which encourage dynamic Chestnut St, V6J Vancouver V6J 3J9 the universe, our planet and space exploration director conversations about what was,$225,6211 $1.6 million 1100 1100 Chestnut St, Vancouver 3J9 $1.51 million1 P: 604-738-7827 F: 604-736-5665 www.spacecentre.ca is and can be Vancouver P: 604-736-4431 F: 604-736-5417 www.museumofvancouver.ca $1.45 million 1992 Provides employment-related services to people in the NP Greg Sol, president $343,393 North Okanagan Employment Enhancement million Society Alimillion Wassing, $1.29 executive Literacy services to communities within the Columbia $1,752 Basin Alliance For Literacy North Okanagan 2001 $1.45 3201 Columbia - 30th St Suite 102, Vernon V1T 9G9 director Basin with programs ranging from early childhood to P: 250-545-0585 F: NP 1535 - 14th Stwww.noees.com RR 4 #2, Invermere V0A 1K4 seniors computers, English a SecondBill Language and $3.77 million1 Mitzi Dean,as executive McElroy, board 1979 Dedicated to maintaining outstanding services for the $1.44 million1 P: 250-342-3210 250-342-9221 www.cbal.org Pacific Centre FamilyF:Services Association chair people we work with through education, counseling and director $242,4821 $1.44 million 2849 Peatt Rd Suite 103, Victoria V9B 3V5 volunteer tutoring creative programming $1.54 million1 P: 250-478-8357 F: 250-478-3699 www.pacificcentrefamilyservices.org 1968 To educate, inspire, and evoke a sense of wonder about Rob Appleton, executive HR MacMillan Space Centre 3 $1.35 million 1990 Registered not-for-profit organization promoting and Judy Cavanagh, June Hughes, $1.27 million Lbcs1100 Literacy BC Society the universe, our planet and space exploration director Chestnut St, Vancouver V6J 3J9 $1.3 million supporting literacy and lifelong learning in B.C. executive director president $1.1 million 333 Terminal Ave Suite 704, Vancouver V6A 4C1 P: 604-738-7827 F: 604-736-5665 www.spacecentre.ca $116,336 P: 604-684-0624 F: 604-684-8520 www.literacy.bc.ca

2002 Early childhood education supporting families Debbie Bell, executive Timpeople Casgrain,in board CanadaOkanagan (Home Instruction For ParentsEnhancement 1992 program Provides employment-related services to the North Employment 1714 Hippy and children at risk director chair Of Preschool Youngsters) North Okanagan 1030 Society Denman St Suite 125, Vancouver V6E 3W1

18

1

1 executive director

$4.42 million1

marine and coastal-oriented SocietyCanadian Universities Marine permanent base for 1972 Operates thefield Bamfield Marine Sciences Centre, a Western operations on the west coast of Canada 7 Sciences PO Box 100 Bamfield Marine Sciences, Bamfield V0R 1B0 permanent base for marine and coastal-oriented field Sciences P: 250-728-3301 F: NPSociety www.bms.bc.ca

8 9

1972

Top volunteer executive

Assets '11 Expenses and Liabilities '11 Bartels, distributions '11/ Kathleen Revenue '11 '10

John Nightingale, effecting the conservation of aquatic life through display president and interpretation, education, research, and direct action

Knowledge Network Art Gallery 2 3 Vancouver 4355 Mathissi Pl, Burnaby V5G 4S8

3

Top volunteer

Top staff executive

Disabled Workers Foundation of Canada P: 250-478-8357 F: 250-478-3699

830 Shamrock St Suite 202, Victoria V8X 2V1 www.pacificcentrefamilyservices.org P: 250-386-4388 F: 250-386-4398 www.nidmar.ca

3 LbcsLaw Literacy BCPublic Society School: The Legal 2016 People's Education Society

1992

NP

1979

chairs

costs of disability 1974

333 Terminal Ave Suite 704, Vancouver V6A 4C1

Hugh Gordon, board chair

Dedicated to maintaining outstanding services for the people we work with through education, counseling and Wolfgang Zimmermann, Viateur Camire An education, training and research organization creative programming Ken Neumann, cocommitted to reducing the human, social and economic executive director

Hippy Canada (Home Instruction For Parents Of Preschool Youngsters) 1030 Denman St Suite 125, Vancouver V6E 3W1 P: 604-676-8250 F: NP www.hippycanada.ca

2002

Early childhood education program supporting families and children at risk

Martha Salcudean, chair

$16.54 million $9.29 million $248,458

$7.01 million $5.02 million

Richard Prokopanko, board chair

$3.52 million1 $1.66 million1 $4.8 million1

$4.93 million1 $4.93 million

Mark Johnson, president

$3.42 million1 $2.4 million1 $4.42 million1

$4.18 million1 $4.18 million

NP

$6.76 million1 $2.63 million1 $3.58 million1

$3.55 million1 $3.55 million

Peter Silvanovich, president and board chair

$1.24 million2 $18,597 $3.15 million

$2.68 million $3.49 million

Grant Parnell, chair

$1.39 million $209,356 $1.95 million

$1.96 million $2.3 million

Tim Manning, board chair

$2.73 million1 $1.21 million1 $2.1 million1

$1.8 million1 $1.8 million

Hilary Meredith, board $5.25 million1 chair $5.52 million1 $1.45 million1

$1.79 million1 $1.79 million

Ron McRae, president

$1.65 million1 $1.65 million

Greg Sol, president

$343,393 $1,752 $1.45 million

$1.45 million $1.29 million

Bill McElroy, board chair

$3.77 million1 $242,4821 $1.54 million1

$1.44 million1 $1.44 million

June Hughes, president

$1.27 million $1.1 million $116,336

$1.35 million $1.3 million

Debbie Bell, executive director

Tim Casgrain, board chair

$444,576 $326,593 $1.42 million

$1.32 million $1.21 million

NP

Hugh Gordon, board chair

$39.68 million1

$444,576 NP $326,593 $1.42 million

$1.32 million $1.21 million

$39.68 million1 $1.09 million1 $33,8131 $1.09 million 1 $3.53 million Mitzi Dean, executive

director

$2.9 million1 $3.06 million1 $910,7101

$1.05 million1 $1.05 million

2004 First Provides scholarships to students attending postK. Barber British Columbia Scholarship The 18 Irving Choice Recovery secondary institutions Society 645 Fort St Suite 109 , Victoria V8W 1G2 for Successful P: 250-381-5532 F: 250-480-1129 www.bcscholarship.ca happens Long Term Recovery 1992 An education, training and research organization Disabled Workers Foundation of Canada 19 here committed to reducing 830 Shamrock St Suite 202, Victoria V8X 2V1 by supporting abstinence based the human, social and economic costs of disability P: 250-386-4388 F: 250-386-4398 www.nidmar.ca

Wolfgang Zimmermann, Viateur Camire executive director Ken Neumann, cochairs

20

Terresa Augustine, executive director

4

People's Law School: The Public Legal Education Society

treatment you ensure a future for 1974 families Our goal is helping people throughout B.C. gain a better children, and our communities

900 Howe St Suite 150, Vancouver V6Z 2M4 P: 604-331-5400 F: 604-331-5401 www.publiclegaled.bc.ca

understanding of their rights and responsibilities under the law

Sources: Interviews with charities that responded to requests for information and Please direct your BIV research. NR Not ranked NP Not provided 1 - 2010 figure 2 - $696,000 of the to the Last Door assets are donated computer inventory 3 - Became Decoda Literacy Solutions in May 2011 by merging with literacy department of 2010 Legacies Now 4 - c/o the Victoria Recovery Society. Foundation

gift

$832,5361 $454,5511 $1.46 million1

$1.6 million1 $1.6 million

900 Howe St Suite 150, Vancouver V6Z 2M4 P: 604-684-0624 F: 604-684-8520 www.literacy.bc.ca P: 604-331-5400 F: 604-331-5401 www.publiclegaled.bc.ca

17

Expenses and distributions '11/ '10

Eric Pringle, president $350,5981 $225,6211 $1.51 million1

1990 Registered promoting andchair $493,632 Judy1 Cavanagh, Augustine, Susan Coristine, Our goal is helping people throughout B.C. gain anot-for-profit better Terresaorganization $898,9621 1 directorlearning in B.C. understanding of their rights andsupporting responsibilitiesliteracy under executive $212,048 $898,962 and lifelong executive director the law $875,8141

Sources: Interviews with charities that responded to requests for information and BIV research. NR Not ranked NP Not provided 1 - 2010 figure 2 - $696,000 of the assets are donated computer inventory 3 - Became Decoda Literacy Solutions in May 2011 by merging with literacy department of 2010 Legacies Now 4 - c/o the Victoria Foundation

Assets '11 Liabilities '11 Revenue '11

$1.09 million1

$33,813 $1.09 million LEAVE A LEGACY $3.53 million 1

1

AND A OF $2.9 GIFT million $1.05 million $3.06 million $1.05 million A LIFETIME $910,710 1

1

1

1

1 1 Susan Coristine, chair $493,632will $898,962 Your donation create magical $212,0481 $898,962 1 memories$875,814 for children with serious

illnesses or disabilities by allowing them to experience the magic of summer camp.

323 Eighth Street New Westminster, BC V3M 2R4

604 525 9771 www.lastdoor.org 2011

www.zajacranch.com

Zajac Ranch for Children - BIV Charitable business succession planning   Advocis  |  27 3.47 inches wide giving x 2.33and inches high Tech: sharon@xy3design.com 604.925.9232


1

David Suzuki Foundation

2

Pacific Salmon Foundation

1987

3

TLC The Land Conservancy of BC

1997

4

Ecojustice Canada Society2

19902

2211 4th Ave W Suite 219, Vancouver V6K 4S2 P: 604-732-4228 F: NP www.davidsuzuki.org

1990

1195 Esquimalt Rd Suite 301, Victoria V9A 3N6 P: 250-479-8053 F: 250-744-2251 www.conservancy.bc.ca 131 Water St Suite 214, Vancouver V6B 4M3 P: 604-685-5618 F: 604-685-7813 www.ecojustice.ca

Organization 1000 Roosevelt Cres Suite 260, North Vancouver V7P 3R4 P:Address 604-924-9771 F: 604-924-9772 www.naturetrust.bc.ca

1971

Ecotrust Canada Foundation 23David PenderSuzuki St W Suite 260, Vancouver V6B 1R3

NP 1990

7 2

BC Wildlife Federation 3060 Norland Ave Suite 101, Burnaby V5B 3A6 Pacific Salmon Foundation

1969 1987

8 3 9

Shaw Ocean Discovery Centre

4th Ave W F:Suite 219, Vancouver V6K 4S2 P:2211 604-682-4141 604-682-1944 www.ecotrust.ca P: 604-732-4228 F: NP www.davidsuzuki.org P:1682 604-291-9990 604-291-9933 www.bcwf.net 7th Ave W F:Suite 300, Vancouver V6J 4S6 P: 604-664-7664 F: NP www.psf.ca

2005 9811 Seaport Pl, Sidney V8L 4X3 P:TLC 250-665-7511 F: 778-426-0715 www.oceandiscovery.ca 1997 The Land Conservancy of BC 1195 Esquimalt Rd Suite 301, Victoria V9A 3N6 1986 Mountain ViewF:Conservation and Breeding P: 250-479-8053 250-744-2251 www.conservancy.bc.ca

Center Society

23898 Rawlison Cres, Langley V1M 3R6 Society2 P:Ecojustice 604-882-9313Canada F: NP www.mtnviewconservation.org 131 Water St Suite 214, Vancouver V6B 4M3 Richmond Animal Protection Society P: 604-685-5618 F: 604-685-7813 www.ecojustice.ca 12071 No. 5 Rd, Richmond V7A 4E9 P:Nature 604-275-2036 F: NP www.rapsociety.com Trust of BC 1000 Roosevelt Cres Suite 260, North Vancouver V7P 3R4 Sierra Club ofF:BC Foundation P: 604-924-9771 604-924-9772 www.naturetrust.bc.ca 733 Johnson St Suite 304, Victoria V8W 3C7 P:Ecotrust 250-386-0162 F: NP www.sierraclub.bc.ca Canada 23 Pender St W Suite 260, Vancouver V6B 1R3 Langley Environmental Partners Society P: 604-682-4141 F: 604-682-1944 www.ecotrust.ca 4700 224 Street, Langley V2Z 1N4 P:BC 604-532-3511 F: 604-534-6593 www.leps.bc.ca Wildlife Federation 3060 Norland Ave Suite 101, Burnaby V5B 3A6 P: 604-291-9990 F: 604-291-9933 www.bcwf.net Raincoast Conservation Foundation 2506 Beacon Ave Suite 216, Sidney V8L 1Y2 OceanF:Discovery P:Shaw 250-655-1229 250-655-1339Centre www.raincoast.org 9811 Seaport Pl, Sidney V8L 4X3 P: 250-665-7511 F: 778-426-0715 Langley Animal Protectionwww.oceandiscovery.ca Society (LAPS) 26220 56th Ave, Aldergrove V4W 1J7 View Conservation and Breeding P:Mountain 604-857-5055 F: 604-857-5057 www.lapsbc.ca

Center Society 23898 Rawlison Cres, Langley V1M 3R6 of BC Grasslands Conservation Council

P: 604-882-9313 F: NP www.mtnviewconservation.org 954 A Laval Cr, Kamloops V2C 5P5 P:Richmond 250-374-5787 F: 250-374-5821 www.bcgrasslands.org Animal Protection Society 12071 No. 5 Rd, Richmond V7A 4E9 Marmot Recovery Foundation P: 604-275-2036 F: NP www.rapsociety.com Box 2332 Stn A, Nanaimo V9R 6X9 P:Sierra 877-462-7668 F: NP Club of BCwww.marmots.org Foundation 733 Johnson St Suite 304, Victoria V8W 3C7 Critter Care Wildlife Society P: 250-386-0162 F: NP www.sierraclub.bc.ca 216 th St Suite 481, Langley V2Z 1R5 P:Langley 604-530-2064 F: 604-532-2009 Environmental Partners Society www.crittercarewildlife.org 4700 224 Street, Langley V2Z 1N4 P: 604-532-3511 F: 604-534-6593 www.leps.bc.ca WRA Wildlife Rescue Association Of British

Columbia Raincoast Foundation 5216 Glencarin Conservation Dr, Burnaby V5B 3C1

Beacon Ave Suite 216, Sidney V8L 1Y2 P:2506 604-526-2747 F: 604-524-2890 www.wildliferescue.ca P: 250-655-1229 F: 250-655-1339 www.raincoast.org

19902 1989 1971 1969 NP 1993 1969 1990 2005 2003 1986 2001 1989 NP 1969 2011 1993 1979 1990

Vancouver Humane Society 8623 Granville St SuiteProtection 303, Vancouver V6P 5A1(LAPS) Langley Animal Society P: 604-266-9744 F: 604-266-1311

1985 2003

BC WaterfowlConservation Society Grasslands Council of BC

1967 2001

Marmot Foundation Sources: Interviews withRecovery charities that responded to requests for information and Box Stn A, NP Nanaimo V9R 16X9 BIV research. NR 2332 Not ranked Not provided - 2010 figure 2 - Originally the Sierra LegalP:Defense Fund 877-462-7668 F: NP www.marmots.org

NP

2015

$12.75 million $2.47 million $8.7 million

$8.47 million $7.31 million

$5.85 million1 $4.9 million1 $8.11 million1

$8.04 million1 $8.04 million

William Turner, executive director

Alastair Craighead, board chair

$47.67 million $7.32 million $5.31 million

$4.21 million $5.14 million

26220 56th Ave, Aldergrove V4W 1J7 www.vancouverhumanesociety.bc.ca P: 604-857-5055 F: 604-857-5057 www.lapsbc.ca

5191 Delta V4K 3N2 954Robertson A Laval Cr,Rd, Kamloops V2C 5P5 P:P:604-946-6980 www.reifelbirdsanctuary.com 250-374-5787F:F:NP 250-374-5821 www.bcgrasslands.org

16

To achieve healthy, sustainable and naturally diverse populations of wild Pacific salmon for generations to come; to promote collaborative governance of natural resources in B.C. and the Yukon to effectively involve communities in decisions affecting Pacific salmon Protects important habitat for plants, animals and natural communities as well as properties with historical, cultural, scientific, scenic or compatible recreational value Organization of lawyers and scientists devoted to protecting the environment

Brian Riddell, president and CEO

Devon Page, executive director

Paul Richardson , president $2.62 million1 and chair $414,4541 $4.49 million1

$3.94 million1 $3.94 million

Dedicated to conserving ecologically significant land

Doug Walker, president TopCEO staff executive and

Doug Christopher, board $85.03 million1 Top volunteer executive $684,128 Assets1 '11 chair Liabilities $4.18 million1 '11

$3.21 million1 Expenses $3.21 million and

Year Area of across thefocus province founded

61

19 14

Tara Cullis, president and co-founder David Suzuki, co-founder James Hoggan, board chair Ned Pottinger, board chair

Biggest environmental charitable organizations in B.C.

1682 7th Ave W Suite 300, Vancouver V6J 4S6 P: 604-664-7664 F: NP www.psf.ca

Ranked by 2011 expenditures 5 '11 Nature Trust of BC Rank

4 10 5 11 6 12 7 13 8 14 9 15 10 16 11 17 12 18 13

The foundation works through science and education to Peter Robinson, CEO protect the diversity of nature and our quality of life now and for the future

Enterprising non-profit whose purpose is to build the Brenda Reid-Kuecks, The foundation works in through Peter Robinson, CEO conservation economy coastalscience B.C. and education to president protect the diversity of nature and our quality of life now and for the future Voluntary conservation organization of hunters, anglers Cheryl Johnson, and shooters operations manager To recreational achieve healthy, sustainable and naturally diverse Brian Riddell, president populations of wild Pacific salmon for generations to and CEO come; to promote collaborative governance of natural Our missioninis B.C. to create advocates the Salishinvolve Sea and Angus Matthews, resources and the Yukon tofor effectively for the the oceans of the world through our salmon live exhibits executive director communities in decisions affecting Pacific and interactive programs Protects important habitat for plants, animals and William Turner, natural communities as well as properties with historical, executive director Operates andscenic return" programs for NP cultural,"breed scientific, orconservation compatible recreational rare and endangered wildlife species in B.C. including the value Vancouver Island marmot, the northern spotted owl and Organization of lawyers and scientists devoted to Devon Page, executive the spotted frog protecting the environment director Operates two animal shelters in Richmond NP

Julia Levy, board chair $4 million Tara Cullis, president and $1.39 $12.75 million 1 million co-founder $2.47million million1 $2.55 David Suzuki, co-founder $8.7 million James Wiebe, Hoggan,president board chair $1.17 million1 Rodney 1 1 Ned Pottinger, board chair $584,640 $5.85 million $1.54 $4.9million million1 1 $8.11 million1 Peter Lloyd, board chair $4.7 million1 $96,4181 1 million Alastair Craighead, board $1.06 $47.67 million chair $7.32 million 1 NP $144,507 $5.31 million $17,8301 $627,2071 Paul Richardson , president $2.62 million1 and chair $414,4541 Fearn Edmonds, president $179,509 $4.49 million1 $167,792 $1.08 million Dedicated to conserving ecologically significant land Doug Walker, president Doug Christopher, board $85.03 million1 1 $684,128 across the province and CEO chair 1 Wilderness and wildlife protections in legislation, George Heyman, Jamie Biggar, board chair $421,912 $4.18 million1 $374,6901 monitoring of provincial environmental protections, executive director $1.05 million1 1 environmental stewardship education Enterprising non-profit whose purpose is to build the Brenda Reid-Kuecks, Julia Levy, board chair $4 million $1.39 million1 conservation economy in coastal B.C. president Watershed Stewardship: Education and Outreach, Nichole Marples, Joan Martin, board chair $355,805 $2.55 million1 Agricultural Stewardship, Habitat Restoration, executive director $14,706 Community Stewardship, Wildlife Conservation, Youth $897,962 Voluntary conservation organization of hunters, anglers Cheryl Johnson, Rodney Wiebe, president $1.17 million1 Employability Skillsshooters development $584,6401 and recreational operations manager $1.54million million1 1 Team of conservationists and scientists empowered by Chris Genovali, executive Jane Woodland, board $1.97 $39,7121 research to protect the lands, waters and wildlife of director chair 1 1 Our mission Peter Lloyd, board chair $881,337 $4.7 million coastal B.C. is to create advocates for the Salish Sea and Angus Matthews, $96,4181 for the the oceans of the world through our live exhibits executive director 1 1 $1.06 million andmandate interactive Our is toprograms promote the physical, emotional and NP Dean Darrell, president $272,782 $53,6451 psychological well-being of companion animals in Operates "breed and return" conservation programs for NP NP $144,5071 1 $848,274 Langley rare and endangered wildlife species in B.C. including the $17,8301 Vancouver Islandofmarmot, the northern spotted owl and Bob Moody, executive $627,2071 1 Strategic alliance organizations and individuals Dave Zirnhelt, board chair $488,889 the spotted $449,2351 committed tofrog the conservation, education and director 1 $718,161 stewardship of the grasslands of B.C. Operates two animal shelters in Richmond NP Fearn Edmonds, president $179,509 $167,792 1 Works to save the endangered Vancouver Island marmot Viki Jackson, executive Jim Walker, board chair $2.27 million $1.08 million $115,1151 from extinction, operating the Marmot Recovery Centre, director 1 managing theand captive breeding program, assisting the Wilderness wildlife protections in legislation, George Heyman, Jamie Biggar, board chair $849,696 $421,9121 wild population and conducting research protections, $374,6901 monitoring of provincial environmental executive director 1 1 Provides short- and long-termeducation care to native mammal Gail Martin, founder and Maureen Binnie, president $391,587 $1.05 million environmental stewardship $16,0821 species, and through rehabilitation and public education, executive director 1 helps preventStewardship: suffering ofEducation injured and orphaned wildlife Watershed and Outreach, Nichole Marples, Joan Martin, board chair $562,466 $355,805 Agricultural Stewardship, Habitat Restoration, executive director $14,706 Community Stewardship, Wildlife Conservation, $897,962 Wildlife rehabilitation and promoting wild animal Youth welfare Glenn Boyle, executive Craig Fisher, president $1.87 million Employability Skills development in urban environments director $25,933 Team of conservationists and scientists empowered by Chris Genovali, executive Jane Woodland, board $1.97 million1 $1.11 million $39,7121 research to protect the lands, waters and wildlife of director chair $881,3371 coastal B.C. Dedicated to the humane treatment of animals, Debra Probert, executive Liberty Mulkani, president $386,8351 1 $23,656 encouraging organizations, and governments 1 Our mandateindividuals, is to promote the physical, emotional and director NP Dean Darrell, president $272,782 1 $253,182 topsychological take responsibility for the welfare andanimals rights ofin $53,6451 well-being of companion domestic animals and wildlife influenced by human $848,2741 Langley activities Preservation of species, wildlife protection, manager of Kathleen Fry,executive manager Jack president million1 1 Strategic alliance of organizations and individuals Bob Moody, DaveBates, Zirnhelt, board chair $1.13 $488,889 1 1 $41,589 the George C.toReifel Migratory Birdeducation Sanctuaryand Robert $449,235 committed the conservation, directorButler, $422,408 administrator $718,16111 stewardship of the grasslands of B.C. Works to save the endangered Vancouver Island marmot from extinction, operating the Marmot Recovery Centre, managing the captive breeding program, assisting the wild population and conducting research Provides short- and long-term care to native mammal species, and through rehabilitation and public education, helps prevent suffering of injured and orphaned wildlife

Viki Jackson, executive director

17

Critter Care Wildlife Society

2011

18

WRA Wildlife Rescue Association Of British Columbia

1979

Wildlife rehabilitation and promoting wild animal welfare Glenn Boyle, executive in urban environments director

Vancouver Humane Society

1985

Dedicated to the humane treatment of animals, encouraging individuals, organizations, and governments to take responsibility for the welfare and rights of domestic animals and wildlife influenced by human activities Preservation of species, wildlife protection, manager of the George C. Reifel Migratory Bird Sanctuary

216 th St Suite 481, Langley V2Z 1R5 P: 604-530-2064 F: 604-532-2009 www.crittercarewildlife.org

5216 Glencarin Dr, Burnaby V5B 3C1 P: 604-526-2747 F: 604-524-2890 www.wildliferescue.ca

19 20

8623 Granville St Suite 303, Vancouver V6P 5A1 P: 604-266-9744 F: 604-266-1311 www.vancouverhumanesociety.bc.ca

BC Waterfowl Society

5191 Robertson Rd, Delta V4K 3N2 P: 604-946-6980 F: NP www.reifelbirdsanctuary.com

Sources: Interviews with charities that responded to requests for information and BIV research. NR Not ranked NP Not provided 1 - 2010 figure 2 - Originally the Sierra Legal Defense Fund

1967

Revenue '11

Give the Gift of the

Future

1

Jim Walker, board chair

$2.27 million1 $115,1151 $849,6961

Gail Martin, founder and Maureen Binnie, president $391,5871 $16,0821 executive director $562,4661 Craig Fisher, president

distributions '11/'10

$2.65 million1 $8.47 million $2.65 million $7.31 million

$1.64 million1 $1.64 million $8.04 million1 $8.04 million $1.5 million1 $1.5 million $4.21 million $5.14 million $1.3 million1 $1.3 million $3.94 million1 $3.94 million $1.11 million $1.11 million $3.21 million1 $3.21 million $1.05 million1 $1.05 million $2.65 million1 $2.65 million $889,875 $889,875 $1.64 million1 $1.64 million $863,2101 $863,210 $1.5 million1 $1.5 million $848,9381 $848,938 $1.3 million1 $1.3 million $782,1811 $782,181 $1.11 million $1.11 million $655,0201 $655,020 $1.05 million1 $1.05 million $529,1091 $529,109 $889,875 $889,875 $512,802 $512,802 $863,2101 $863,210 $458,3351 $458,335 $848,9381 $848,938 $453,328 $782,1811 $453,328 $782,181 $655,0201 $655,020 $529,1091 $529,109

$1.87 million $25,933 $1.11 million

$512,802 $512,802

Your legacy through Planned Giving $458,335 Debra Probert, executive Liberty Mulkani, president $386,835 helps $23,656 future $458,335 director to ensure a sustainable $253,182 for fish, birds, wildlife and their habitat. 1

1

1

1

$453,328 Kathleen Fry, manager Jack Bates, president $1.13 million You — $41,589 $453,328 Robertcan Butler, make a difference $422,408 administrator leave your legacy to conservation 1

1

1

1

Phone: 604-882-9988 ext 223 Toll-Free: 1-888-881-2293 www.bcwf.bc.ca

28  |  Advocis  Charitable giving and business succession planning

2011


Address

founded

1

BC Children's Hospital Foundation 938 28th Ave W, Vancouver V5Z 4H4 P: 604-875-2444 F: 604-875-2596 www.bcchf.ca

1949

2

VGH & UBC Hospital Foundation 855 12th Ave W, Vancouver V5Z IM9 P: 604-875-4676 F: 604-875-5433 www.worldclasshealthcare.ca Terry Fox Foundation 46165 Yale Road Suite 303, Chilliwack V2P 2P2 P: 604-701-0246 F: 604-701-0247 www.terryfox.org

1980

Raising funds for VGH, UBC Hospital, GF Strong Rehab Ron Dumouchelle, Centre and Vancouver Coastal Health Research Institute president and CEO

1993

Raises funds for use in cancer research, primarily through the annual Terry Fox Run, National School Run Day and The Great Canadian Hair "Do" Event

1935

BC Cancer Foundation is the bridge that connects philanthropic support and research breakthroughs in cancer knowledge

3 4

5

2 7 3 8 4 9 5 10 6 11 127 138 149 1510

Pediatric health care

Liabilities '11 Revenue '11

'10

$220.34 million $87.51 million $84.82 million

$74.88 million $57.04 million

Michael Phelps, board chair

$128.73 million $6.69 million $56.53 million

$39.28 million $41.33 million

Brett Kohli, national NP director Donna White, provincial director, B.C. and Yukon Douglas Nelson, Jess Ketchum, board president and CEO chair

$93.38 million $807,226 $28.78 million

$32.99 million $25.58 million

$63.66 million $3.61 million $39.26 million

$32.71 million $27.78 million

Assetsmillion '11 $26.64 $6.45 million'11 Liabilities $34.37 million Revenue '11

Expenditures $31.42 million '11/ $33.22 '10 million

Teri Nicholas, president Kevin Bent, board chair & CEO

Biggest health charitable organizations in B.C.

BC Cancer Foundation 686 West Broadway Suite 600, Vancouver V5Z 1G1 604-877-6040 F: 604-877-6161 www.bccancer RankedP: by 2011 expenditures foundation.com Rank '11 Canadian Organization Cancer Society, BC and Yukon Division 565 10th Ave W, Vancouver V5Z 4J4 Address P: 604-872-4400 F: 604-879-4533 www.bc.cancer.ca

61

executive

Year 1938

Area of focus Research and enhancing the quality of life for people founded living with cancer

BC Children's Hospital Foundation Heart and Stroke Foundation, BC & Yukon office 938Broadway 28th Ave W, Vancouver V5Z 4H4 V6H 3V2 1212 W Suite 200, Vancouver 604-875-2444F:F:604-736-8732 604-875-2596 www.bcchf.ca P:P:604-736-4404 www.heartandstroke.bc.ca VGH & UBC Hospital Foundation 855 12th Ave W, Vancouver V5Z IM9 Lions Gate Hospital Foundation P: 604-875-4676 F: 604-875-5433 231 15th St E, North Vancouver V7L 2L7 www.worldclasshealthcare.ca P: 604-984-5785 F: 604-984-5786 Terry Fox Foundation www.lghfoundation.com 46165 Yale Road Suite 303, Chilliwack V2P 2P2 Peace Arch Hospital Foundationwww.terryfox.org P: 604-701-0246 F: 604-701-0247 15521 Russell Ave, White Rock V4B 2R4 P: 604-535-4520 F: 604-541-5820 BC Cancer Foundation www.peacearchhospital.com 686 West Broadway Suite 600, Vancouver V5Z 1G1 St HospitalF: Foundation P: Paul's 604-877-6040 604-877-6161 www.bccancer 1081 Burrard St Suite 178, Vancouver V6Z 1Y6 foundation.com P: 604-682-8206 F: 604-806-8326 Canadian Cancer Society, BC and Yukon Division www.helpstpauls.com 565 10th Ave W, Vancouver V5Z 4J4 Canuck Place Children's Hospicewww.bc.cancer.ca P: 604-872-4400 F: 604-879-4533 1690 Matthews Ave, Vancouver V6J 2T2 P: 604-731-4847 F: 604-739-4376 www.canuckplace.org Heart and Stroke Foundation, BC & Yukon office 1212 Broadway W Suite 200, Vancouver V6H 3V2 BC Lung Association P: 604-736-4404 F: 604-736-8732 2675 Oak St, Vancouver V6H 2K2 www.heartandstroke.bc.ca P: 604-731-5864 F: 604-731-5810 www.bc.lung.ca

1949 1955

Lions Gate Hospital The Arthritis Society,Foundation BC & Yukon Division 231 15th St E,WNorth V7L 2L7 1645 7th Ave SuiteVancouver 101, Vancouver V6J 1S4 604-984-5785F:F:604-714-5555 604-984-5786 P:P:604-714-5550 www.arthritis.ca www.lghfoundation.com Alzheimer Society of BC Peace Arch Hospital Foundation 828 8thRussell Ave WAve, SuiteWhite 300, Rock Vancouver V5Z 1E2 15521 V4B 2R4 P:P:604-681-6530 604-535-4520F:F:604-669-6907 604-541-5820www.alzheimerbc.org www.peacearchhospital.com Kelowna Hospital Foundation St Paul'sGeneral Hospital Foundation 2268 Kelowna V1Y 1T2 V6Z 1Y6 1081 Pandosy Burrard StSt,Suite 178, Vancouver P:P:250-862-4438 F: 250-862-4377 604-682-8206 F: 604-806-8326 www.kghfoundation.com www.helpstpauls.com Burnaby Hospital Foundation Canuck Place Children's Hospice 3935 St, Ave, Burnaby V5G 2X6V6J 2T2 1690Kincaid Matthews Vancouver P:P:604-431-2881 604-731-4847F:F:604-434-9357 604-739-4376www.bhfoundation.ca www.canuckplace.org

1981 1948

1980

Top staff executive Top volunteer Barbara Kaminsky, CEO Lorraine Grant, board chair executive

health care APediatric volunteer-based health charity that leads in eliminating heart disease and stroke and reducing their impact through the advancement of research and its application, the promotion of healthy living and Raising funds for VGH, UBC Hospital, GF Strong Rehab advocacy Centre and Vancouver Coastal Health Research Institute Raises funds to support the highest quality health care on the North Shore for 10 facilities and programs including Lions Gate Hospital Raises funds for use in cancer research, primarily through the annual Terry Fox Run, National School Run Provides forCanadian the purchase of new and Day and funding The Great Hair "Do" Event replacement capital equipment at Peace Arch Hospital

1 Teri Nicholas, president KevinScott, Bent, board board chair chair $20.63 $220.34 million Diego Marchese, CEO, BC Peter million 1 CEO $87.51 million &&Yukon $7.7 million 1 $84.82million million $19.27

$128.73 million $6.69 million $31.24 $56.53million million $1.91 million $9.41 million Brett Kohli, national $93.38 million director $807,226 1 Jackie $26.88 DonnaSmith, White, executive provincial Jane Manning, board $28.78million million director $1.47 million1 director, B.C. and Yukon chair $11.3 million1 BC Cancer Foundation is the bridge that connects Douglas Nelson, Jess Ketchum, board $63.66 million philanthropic support and research breakthroughs in president and CEO chair $3.61 million Raises for innovation in patient care and research Stephen Shapiro, Henry Man, board chair $31.86 cancerfunds knowledge $39.26million million at St. Paul's, Vancouver's downtown teaching hospital president and CEO $294,971 $9.95 million Research and enhancing the quality of life for people Barbara Kaminsky, CEO Lorraine Grant, board $26.64 million living with cancer chair $6.45 million North America's first free-standing children's hospice Filomena Nalewajek, John Rose, board chair $11.93 $34.37million million CEO $4.63 million $8.51 million 1 A volunteer-based health charity that leads in Diego Marchese, CEO, BC Peter Scott, board chair $20.63 million $7.7 million1 eliminating heart disease and stroke and reducing their & Yukon To improve lung health through research, education, Scott McDonald, Muff, Hackett, board $12.24 $19.27million million1 impact through the advancement of research and its advocacy andthe community executive director chair $1.38 million application, promotionprograms of healthy living and $8.05 million advocacy Raises funds to support the highest quality health care Nancy Judy Savage, president Drew ClarkMcArthur, Quintin, board $31.24 million Provides leadership and funding for research, advocacy Roper, executive chair $3.11 million on the North to Shore for 10the facilities programs chair andadvisory chair, Theboard Hope $1.69 $1.91 million million and solutions improve qualityand of life for over director divisional includingpeople Lions in Gate Campaign $9.41million million 600,000 BC Hospital and the Yukon living with arthritis $5.91

$39.28 million $41.33 million $10.28 million $7.14 million

1981 1988

Support programs Providesservices fundingand for education the purchase of new locally and and provincially help Canadians who are affected by replacementtocapital equipment at Peace Arch Hospital Alzheimer's disease and related dementias

Jean Blake, CEOexecutive Sharon Craver, board Jackie Smith, Jane Manning, board chair director chair

$4.81 $8.74million million1 $4.11 $8.74million million

1980 1980

Independent, organization Raises funds volunteer-driven for innovation in charitable patient care and research committed to Vancouver's enhancing the delivery teaching of healthcare to at St. Paul's, downtown hospital the patients of Kelowna General Hospital and its associated facilities Philanthropic armfirst of Burnaby Hospital that raises North America's free-standing children's hospice financial resources needed for innovative health-care equipment, state-of-the-art technology, capital projects and educational outreach Exists to promote the mental health of British To improve lung health through research, education, Columbians andcommunity support theprograms resilience and recovery of advocacy and people experiencing mental illness

Doug Rankmore, Stephen Shapiro,CEO president and CEO

1981 1993 1988 1935 1980 1938 1995 1955 1922

1982 1995

1611

Canadian Mental Health Association, BC Division BC Lung Association 1111 Melville St Vancouver Suite 1200, V6H Vancouver 2675 Oak St, 2K2 V6E 3V6 P:P:604-688-3234 www.cmha.bc.ca 604-731-5864 F:F: 604-688-3236 604-731-5810 www.bc.lung.ca

1967 1922

1712

Canadian Paraplegic Association (BC) The Arthritis Society, BC & Yukon Division 780 Dr WSW, Vancouver V6P 5Y7V6J 1S4 1645Marine 7th Ave Suite 101, Vancouver P:P:604-324-3611 604-714-5550F:F:604-326-1229 604-714-5555www.bcpara.org www.arthritis.ca

1957 1948

1813

Queen Alexandra Foundation for Children 1985 Alzheimer Society of BC 1981 2400 Arbutus Victoria 1V7 V5Z 1E2 828 8th Ave WRd, Suite 300, V8N Vancouver P:P:250-519-5390 604-681-6530F:F:250-519-6715 604-669-6907 www.alzheimerbc.org www.queenalexandra.org KelownaHospice Generaland Hospital Foundation 1980 Victoria Palliative Care Foundation 1997 2268Bay Pandosy Kelowna V1Y 1T2 1952 St 4th St, floor Suite 400, Victoria V8R 1J8 250-862-4438F:F:250-888-2678 250-862-4377 P:P:250-952-5720 www.kghfoundation.com www.victoriahospice.org Burnaby Hospital 1982 Spirit of the NorthFoundation Healthcare Foundation 1991 3935Edmonton Kincaid St,St,Burnaby V5G 2X6V2M 1S2 1475 Prince George P: 604-431-2881 F: 604-434-9357 www.bhfoundation.ca P: 250.565.2515 F: 250.565.2595 www.spiritofthenorth.ca Canadian Mental Health Association, BC Division 1967 Sources: Interviews with charities that responded to requests for information and 1111NRMelville St Suite 1200, Vancouver V6E 3V6 BIV research. Not ranked NP Not provided 1 - 2010 figure P: 604-688-3234 F: 604-688-3236 www.cmha.bc.ca

1914

2015 16

Ron Dumouchelle, president and CEO Judy Savage, president

Michael Phelps, board chair Clark Quintin, board chair and chair, The Hope Campaign NP

$74.88million million1 $19.83 $57.04million million $19.83

$4.06 million $26.88 million1 $924,389 $1.47 million1 $5.17 $11.3 million million1

Karen HenryBorring-Olsen, Man, board chair $11.19 $31.86million million board chair $477,387 $294,971 $4.53 million $9.95 million

$32.99 million $25.58 million $8.74 million1 $8.74 million $32.71 million $27.78 million $8.69 million $6.95 million $31.42 million $33.22 million $8.24 million $7.71 million $19.83 million1 $19.83 million $7.99 million $6.98 million $10.28 million $5.78 million $7.14 million million $4.87

$4.66 $8.69million million $2.92 $6.95million million

1 Cheryl Bosley, president Rahim Rajan,board chair chair $6.23 Filomena Nalewajek, John Rose, $11.93million million 1 $445,286 CEO $4.63 million1 $4.89 $8.51 million million

1 $4.51 $8.24million million $4.51 $7.71million million

Bev Gutray, CEO Scott McDonald, executive director

$4.13 $7.99million million $4.03 $6.98million million

Judith Moore, board Muff, Hackett, board chair chair

$4.34 $12.24million million $2.79 $1.38million million $4.26 $8.05million million

Services people with cord andadvocacy other Chris executive Ed Milligan, BCPA chair board $1.79 Providesfor leadership andspinal funding forinjuries research, NancyMcBride, Roper, executive Drew McArthur, $3.11 million million1 physical disabilities director chair and solutions to improve the quality of life for over director divisional advisory board $1.79 $1.69million million1 $3.89 600,000 people in BC and the Yukon living with arthritis $5.91 million million1

$3.61 $5.78million million1 $3.61 $4.87million million

Supports the physical, mental andprograms social well beingand of Support services and education locally children, youth primarily onaffected Vancouver provincially to and helpfamilies Canadians who are by Island and thedisease Gulf Islands in B.C. dementias by raising, investing Alzheimer's and related and stewarding funds Independent, charitable organization Fundraising forvolunteer-driven palliative/end-of-life care services committed to enhancing the delivery of healthcare to the patients of Kelowna General Hospital and its associated facilities Philanthropic arm of Burnaby Hospitalinthat To facilitate philanthropic investment the raises financial resources needed throughout for innovative enhancement of healthcare thehealth-care referral area equipment, state-of-the-art technology, of the University Hospital of Northern BC,capital Prince projects George. and educational outreach Exists to promote the mental health of British Columbians and support the resilience and recovery of people experiencing mental illness

Ron Hewitt, Jean Blake,CEO CEO

Chuck board SharonChandler, Craver, board chair chair

$41.76 $4.06 million million1 $1.3 million1 $924,389 $3.57 $5.17 million million1

$3.58 $4.81 million million1 $3.58 $4.11 million

Doug Rankmore, Wayne Peterson, CEO executive director

KarenMaddaugh, Borring-Olsen, Peter board chair president, board chair

$11.19million million1 $3.65 $477,3871 $966,598 $4.53million million1 $3.52

$4.66million million1 $3.22 $2.92million million $3.22

$6.23million million1 $3.68 $445,2861 $820,695 $4.89 million1 $2.87 million

$4.51 million million1 $3.07 $4.51million million $2.77

$4.34 million $2.79 million $4.26 million

$4.13 million $4.03 million

$1.79 million1 $1.79 million1 $3.89 million1

$3.61 million1 $3.61 million

Cheryl Bosley, Rahim Masse, Rajan, chair Don Gowan, CEOpresident Darren president Carol Beebe, past president Bev Gutray, CEO

Judith Moore, board chair

17

Canadian Paraplegic Association (BC) 780 Marine Dr SW, Vancouver V6P 5Y7 P: 604-324-3611 F: 604-326-1229 www.bcpara.org

1957

Services for people with spinal cord injuries and other physical disabilities

18

Queen Alexandra Foundation for Children 2400 Arbutus Rd, Victoria V8N 1V7 P: 250-519-5390 F: 250-519-6715 www.queenalexandra.org Victoria Hospice and Palliative Care Foundation 1952 Bay St 4th floor Suite 400, Victoria V8R 1J8 P: 250-952-5720 F: 250-888-2678 www.victoriahospice.org Spirit of the North Healthcare Foundation 1475 Edmonton St, Prince George V2M 1S2 P: 250.565.2515 F: 250.565.2595 www.spiritofthenorth.ca

1985

Supports the physical, mental and social well being of Ron Hewitt, CEO Chuck Chandler, board $41.76 million1 $3.58 million1 children, youth and families primarily on Vancouver chair $1.3 million1 $3.58 million 1 Island and Discover the Gulf Islands inGroup B.C. by raising, investing at The Co-operators. $3.57 million Benefits and stewarding funds 1 FundraisingCanadians for palliative/end-of-life Wayne Peter Maddaugh, million $3.22 million1 acrosscare theservices country rely on Peterson, The Co-operators for Home and$3.65 Auto insurance, executive director president, board chair $966,5981 $3.22 million but that’s only one part of what we offer. For more than 50 years, we’ve also been providing 1 $3.52 million

19 20

1997

Chris McBride, executive Ed Milligan, BCPA board director chair

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a full suite of Group Benefit products to companies and associations through independent

1991

Sources: Interviews with charities that responded to requests for information and BIV research. NR Not ranked NP Not provided 1 - 2010 figure

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2011

Charitable giving and business succession planning   Advocis  |  29


Ranked by 2011 expenditures Rank '11 Organization

Year Area of focus founded

Address

Biggest social charitable organizations in B.C.

Top staff executive

Number of staff Assets '11 '11/'10 Liabilities '11 Revenue '11

Expenses and distributions '11/ '10

1

S.U.C.C.E.S.S. 1 28 Pender St W, Vancouver V6B 1R6 P: 604-684-1628 F: 604-408-7236 www.successbc.ca

1973

Social services and training, healthcare, housing, and foundation

Thomas Tam, CEO

Dennis Chan, board chair

$34.55 million $26.94 million $37.59 million

$37.09 million $36.51 million

2

United Way of the Lower Mainland 4543 Canada Way, Burnaby V5G 4T4 P: 604-294-8929 F: 604-293-0010 www.uwlm.ca

1932

To strengthen our community's capacity to address social issues

Michael McKnight, Yuri Fulmer, president and CEO board chair

$44.87 million $6.9 million $33.39 million

$33.83 million $31.94 million

3

YMCA of Greater Vancouver2 1166 Alberni St Suite 200, Vancouver V6E 3Z3 P: 604-681-9622 F: 604-688-0220 www.vanymca.org

1886

Provides social, employment, preventative health, educational and community services to develop and support children, family and community needs

Stephen Butz, president and CEO

Joanne MelloyWebster, board chair

$67.63 million3 $33.57 million3 $33.65 million3

$32.51 million3 $29.6 million4

Vancouver Community Services Society Ranked by 2011 expenditures 4 Greater

1986

Home support services for seniors, the disabled and financially disadvantaged

Ron McLeod, CEO

Lynn Carter, president

1212 West Broadway Suite 500, Vancouver V6H 3V1

604-737-4900 F: 604-737-2922 www.gvcss.bc.ca Rank '11 P:Organization

5 1 6 2 7 3 8 4 9 5 10 6 11 7 12 8 13 9 14 10 15 11 16 12 17 13 18 14

Year Area of focus founded

Address

Options Community Services Society 9815 140th St, Surrey V3T 4M4 P:S.U.C.C.E.S.S. 604-584-5811 F:1 604-584-7628 www.options.bc.ca 28 Pender St W, Vancouver V6B 1R6 P: Society 604-684-1628 F: 604-408-7236 BC for the Prevention ofwww.successbc.ca Cruelty to Animals (SPCA) United WayE,ofVancouver the LowerV5T Mainland 1245 7th Ave 1R1 Canada Way, Burnaby V5Gwww.spca.bc.ca 4T4 P:4543 604-681-7271 F: 604-681-7022 P: 604-294-8929 F: 604-293-0010 www.uwlm.ca Family Services of Greater Vancouver 2 1616 7th of AveGreater W, Vancouver V6J 1S5 YMCA Vancouver P:1166 604-731-4951 604-733-7009 www.fsgv.ca Alberni StF:Suite 200, Vancouver V6E 3Z3 P: 604-681-9622 F: 604-688-0220 www.vanymca.org Immigrant Services Society of BC 333 Terminal Ave SuiteCommunity 501, Vancouver V6A 2L7 Greater Vancouver Services Society P:1212 604-684-2561 F: 604-684-2266 www.issbc.org West Broadway Suite 500, Vancouver V6H 3V1 P: 604-737-4900 F: 604-737-2922 www.gvcss.bc.ca Abbotsford Community Services 2420 Montrose Ave, Abbotsford 3S9 Options Community ServicesV2S Society P:9815 604-859-7681 F: NP V3T 4M4 140th St, Surrey www.abbotsfordcommunityservices.com P: 604-584-5811 F: 604-584-7628 www.options.bc.ca YWCA Metro Vancouver 535 Vancouver V6C 2E8of Cruelty to Animals BCHornby SocietySt,for the Prevention P:(SPCA) 604-895-5800 F: 604-684-9171 www.ywcavan.org 1245 7th Ave E, Vancouver V5T 1R1 Association of Neighbourhood of BC P: 604-681-7271 F: 604-681-7022 Houses www.spca.bc.ca 3102 Main St Suite 203, Vancouver V5T 3G7 Services of Greater Vancouver P:Family 604-875-9111 F: 604-875-1256 www.anhbc.org 1616 7th Ave W, Vancouver V6J 1S5 P: 604-731-4951 604-733-7009 www.fsgv.ca PLEA CommunityF: Services Society of BC 3894 Commercial St, Vancouver V5N 4G2 Services Society ofwww.plea.ca BC P:Immigrant 604-871-0450 F: 604-871-0408 333 Terminal Ave Suite 501, Vancouver V6A 2L7 P: 604-684-2561 F: 604-684-2266 Union Gospel Mission Foundationwww.issbc.org 616 Cordova St E, Vancouver V6A 1L9 Abbotsford Community Services P: 604-253-3323 F: 604-253-3496 www.ugm.ca 2420 Montrose Ave, Abbotsford V2S 3S9 P: 604-859-7681 F: NP Variety - The Children's Charity www.abbotsfordcommunityservices.com 4300 Still Creek Dr, Burnaby V5C 6C6 P:YWCA 604-320-0505 F: 604-320-0535 www.variety.bc.ca Metro Vancouver 535 Hornby St, Vancouver V6C 2E8 StP:James Community Services Society 604-895-5800 F: 604-684-9171 www.ywcavan.org 329 Powell St, Vancouver V6A 1G5 P:Association 604-606-0300 604-606-0309 www.sjcss.com of F:Neighbourhood Houses of BC 3102 Main St Suite 203, Vancouver V5T 3G7 Covenant HouseF:Vancouver P: 604-875-9111 604-875-1256 www.anhbc.org 575 Drake St, Vancouver V6B 4K8 P:PLEA 604-685-5437 F: 604-685-5324 Community Services Society of BC www.covenanthousebc.org 3894 Commercial St, Vancouver V5N 4G2 P: 604-871-0450 F: 604-871-0408 United Way of Greater Victoria www.plea.ca 1144 Fort St, Victoria V8V 3K8 Gospel Mission Foundation P:Union 250-385-6708 F: 250-385-6712 www.uwgv.ca 616 Cordova St E, Vancouver V6A 1L9 P: 604-253-3323 F: 604-253-3496 www.ugm.ca Jewish Federation of Greater Vancouver 950 41st Ave W Suite 200, Vancouver Variety - The Children's Charity V5Z 2N7 P:4300 604-257-5100 604-257-5110 Still CreekF:Dr, Burnaby V5C 6C6 www.jewishvancouver.com P: 604-320-0505 F: 604-320-0535 www.variety.bc.ca SHARE Family and Community Services James Community SocietyV3K 4S8 25StKing Edward Ave SuiteServices 200, Coquitlam Powell St, Vancouver V6A 1G5 P:329 604-540-9161 F: 604-540-2290 www.sharesociety.ca P: 604-606-0300 F: 604-606-0309 www.sjcss.com

1969

Covenant House Vancouver BC Lions Society for Children with Disabilities 575 Drake St, Vancouver V6B 4K8 3981 Oak St, Vancouver V6H 4H5 P: 604-685-5437 F: 604-685-5324 P:www.covenanthousebc.org 604-873-1865 F: 604-873-0166 www.lionsbc.ca

1997 1983

1973 1895 1932 1928 1886 1972 1986 1969 1969 1897 1895 1894 1928 1979 1972 1940 1969 1965 1897 1951 1894 1997 1979 1967 1940 1986 1965

Top staff executive

$6.39 million $3.17 million Number of staff NP Assets '11

'11/'10

Social services organization with more than 50 programs and Christine Mohr, John Russell, services for families and children, youth, employment, women in executive director board chair crisis, programs, people with mentaland health issues, Socialcounselling services and training,for healthcare, housing, foundation Thomas Tam, CEO Dennis Chan, programs for the homeless and programs for immigrant newcomers board chair Dedicated to protecting and enhancing the quality of life for Craig Daniell, CEO Cindy Soules, domestic, farm and wild animals in British Columbia president To strengthen our community's capacity to address social issues Michael McKnight, Yuri Fulmer, president and CEO board chair

Liabilities '11

$13.37 million Revenue '11 $7.5 million $25.76 $34.55million million $26.94 million $37.59million million 5 $27.12 $2.42 million5 $44.87million million 5 $26.23 $6.9 million $33.39 million Providing crucial social services to children, youth, adults and Caroline Bonesky, Chris Sanderson, $4.37 million families across Lower Mainland board chair million Provides social,the employment, preventative health, educational and CEO Stephen Butz, Joanne Melloy- $2.92 $67.63 million3 community services to develop and support children, family and president and CEO Webster, board $22.28 $33.57million million3 community needs chair $33.65 million3 Immigrant services, language college, employment and career Patricia Woroch, NP $7.76 million services CEO $3.28 Home support services for seniors, the disabled and financially Ron McLeod, CEO Lynn Carter, $6.39million million $20.97 million disadvantaged president $3.17 million NP Social services organization with 70 programs serving young Rod Santiago, Virgina Dr. Cooke, $7.88 million families and children, youth, legal a food with a free $2.32 million Social services organization withaid, more than bank 50 programs anddental executive Christinedirector Mohr, board Johnpresident Russell, $13.37 million clinic, recycling depot, the immigrant and multi-cultural community, $16.66 million services for families and children, youth, employment, women in executive director board chair $7.5 million seniors and people with developmental crisis, counselling programs, for peopledisabilities with mental health issues, $25.76 million forand the build homeless and programs for immigrant Toprograms touch lives better futures for children, youth newcomers and Janet Austin, CEO Karen Gilmore, $29.43 million3 3 5 $7.08 women through advocacyand andenhancing integratedthe services foster Dedicated to protecting qualitythat of life for Craig Daniell, CEO board Cindychair Soules, $27.12million million 3 $17.11 economic and equalColumbia opportunities domestic,independence, farm and wild wellness animals in British president $2.42million million5 $26.23 million5 Community and social services Mamie HuttTerry Stanway, $10.4 million Temoana, CEO president $5.63 million Providing crucial social services to children, youth, adults and Caroline Bonesky, Chris Sanderson, $17.15 $4.37million million families across the Lower Mainland CEO board chair $2.92 million $22.28 million 3 Families, youth and adults Timothy Agg, David Duncan, $5.29 million executive director president $2.73 million3 Immigrant services, language college, employment and career Patricia Woroch, NP $7.76million million 3 $15.7 services CEO $3.28 million $20.97million million 3 Provides meals, emergency shelter, free clothing and personal care Bill Mollard, Teresa Black $14.96 products, alcohol and drug recovery programs, education and president Hughes, board $9.4 million3 Social services organization with 70 programs serving young Rod Santiago, Virgina Dr. Cooke, $7.88 million 3 $15.29 million employment programs and abstinence-based housing chair families and children, youth, legal aid, a food bank with a free dental executive director board president $2.32 million clinic, recycling theneeds immigrant and multi-cultural community, Barbara Hislop, $16.66million million3 Children who havedepot, special Dave McConachie, $20.65 seniors and people with developmental disabilities executive director president and chief $410,1143 3 3 To touch lives and build better futures for children, youth and Janet Austin, CEO barker Karen Gilmore, $17.68 $29.43million million women through advocacy and integrated services that foster board chair $7.08 million3 Housing, health and social wellness services to mostopportunities vulnerable in the Jonathan Oldman, Marleen Morris, $17.64 economic independence, andthe equal $17.11 million 3 community executive director president $15.96 million Community and social services Mamie HuttTerry Stanway, $12.71 $10.4million million Temoana, CEO president $5.63 million Crisis shelter, outreach, community services, transitional living and Krista Thompson, Jeffrey Bacha, $9.25 $17.15million million support services for homeless youth executive director board chair $6.05 million $11.62 Families, youth and adults Timothy Agg, David Duncan, $5.29million million3 executive director president $2.73 million3 $15.7million million33 Funds social service agencies through a granting process to create Linda Hughes, CEO Peter Lockie, $14.17 and implement programs and services which address: 1) housing for board chair $2.69 million3 3 Provides meals, emergency shelter,poor; free2)clothing personal Teresa Black $14.96 million 3 homeless, low-income and working mental and health and care Bill Mollard, $7.35 million products, alcohol recoverywell-being programs, education and president Hughes, board $9.4 million3 addictions; 3) familyand anddrug community employment programs and abstinence-based housing chair $15.29 million3 Building a strong, vibrant and enduring Jewish community on the Mark Gurvis, CEO Mitchell Gropper, $36.91 million Lower Mainland, in Israel andneeds throughout the world million Children who have special Barbara Hislop, board Davechair McConachie, $2.17 $20.65 million3 3 million executive director president and chief $11.6 $410,114 barker $17.68 million3 Social services and programs to the Tri-cities including a food bank, Martin Wyant, CEO Lynn Pelletier, $2.88 million3 3 Housing, health and socialfor services to with the most vulnerabledelays in the or Jonathan Oldman, board Marleen $17.64 million early intervention therapy chidlren developmental chairMorris, $1.46 million 3 communityhousing, counselling, addictions and gambling executive director president $15.96 million disabilities, $6.1 million $12.71 million counselling, early education for pre-school children and support for vulnerable families Crisis shelter, outreach, community services, transitional living and Krista Thompson, Jeffrey Bacha, $9.25 million Operates summer camps for disabled children throughout the Stephen Miller, $2.71 million support three services for homeless youth executive director Trevor board Rennie, chair $6.05 million province and also offers parent-care grants president and CEO board chair $3.47 $11.62million million $5.7 million

Let a cure for diabetes

be your legacy

1915 2016

1972 1951

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ive the gift of hope to the 1967 millions affected Funds social service agencies through a granting process to create Linda Hughes, CEO Peter Lockie, implement programs and services which address: 1) housing for board chair by diabetes. Through a personaland donation homeless, low-income and working poor; 2) mental health and addictions; 3) family and community well-being can helpVancouver Canadian researchers achieve Jewishyou Federation of Greater 1986 Building a strong, vibrant and enduring Jewish community on the Mark Gurvis, CEO Mitchell Gropper, 18plan, 950 41st Ave W Suite 200, Vancouver V5Z 2N7 Lower Mainland, in Israel and throughout the world board chair P: 604-257-5100 F: 604-257-5110 medical breakthroughs that will benefit the world. Let a cure for diabetes www.jewishvancouver.com Your legacy: a home away 17

Unitedwith Waycharities of Greater Victoria Sources: Interviews that responded to requests for information and 1144 Fortranked St, Victoria 3K8 1 - United Chinese Community BIV research. NR Not NP NotV8V provided P: 250-385-6708 F: 250-385-6712 www.uwgv.ca Enrichment Services Society 2 - Fiscal year ends December 31 3 - 2010 figure 4 2009 figure 5 - 2010 figures

Family andlegacy Community Services 1972 Social services and programs to the Tri-cities including a food bank, Martin Wyant, CEO Lynn Pelletier, 19beSHARE your 25 King Edward Ave Suite 200, Coquitlam V3K 4S8 early intervention therapy for chidlren with developmental delays or from home for seriouslyboardillchair diabetes.ca | 1-800-BANTING P: 604-540-9161 F: 604-540-2290 www.sharesociety.ca (226-8464) disabilities, housing, counselling, addictions and gambling

G 20 Let a cure for diabetes

children and their families.

counselling, early education for pre-school children and support for ive the gift of hope to the millions affected by diabetes. vulnerable families Through a personal donation plan, you can help BC Lions Society for Children Disabilities 1983breakthroughs Operatesthat three summer camps for disabled children throughout the Stephen Miller, Canadianwith researchers achieve medical 3981 Oak St, Vancouverwill V6Hbenefi 4H5 t the world. province and also offers parent-care grantsMake a lasting impact president atand CEO P: 604-873-1865 F: 604-873-0166 www.lionsbc.ca

be your legacy

diabetes.ca | 1-800-BANTING (226-8464)

Sources: Interviews with charities that responded to requests for information and BIV research. NR Not ranked NP Not provided 1 - United Chinese Community Enrichment Services Society 2 - Fiscal year ends December 31 3 - 2010 figure 4 2009 figure 5 - 2010 figures

Ronald McDonald House BC. Give today!

G

ive the gift of hope to the millions affected by diabetes. Through a personal donation plan, you can help Canadian researchers achieve number 11883 RR0001 medical breakthroughs that Charitable will benefit the 0744 world. Charitable number 11883 0744 RR0001

30  | diabetes.ca Advocis  Charitable giving and business succession planning | 1-800-BANTING (226-8464)

Trevor Rennie, board chair

$27.67 million $18.99 million

Expenses and distributions '11/

3 $25.47 '10 million $25.47 million $37.09 million $36.51 million $24.72 million5 $24.72 million $33.83 million $31.94 million

$22.28 million 4 $22.11 million $32.51 million3 $29.6 million4 $20.15 million $18.25 million $27.67 million $18.99 million $17.3 million $14.94 million $25.47 million3 $25.47 million $17.23 million3 $17.23 million $24.72 million5 $24.72 million $17.02 million $16.37 million $22.28 million $22.11 million4 $15.61 million3 $15.61 million $20.15 million $18.25 million $15.29 million3 $15.29 million $17.3 million $14.94 million $12.97 million3 $12.97 million $17.23 million3 $17.23 million $12.75 million $13.81 million $17.02 million $16.37 million $11.43 million $11.8 million $15.61 million3 $15.61 million $7.25 million3 $7.25 million 3 $15.29 million $15.29 million $6.12 million $9.04 million $12.97 million3 $12.97 million $5.96 million3 $12.75 million $5.96 million $13.81 million $11.43 million $5.15 million $11.8 million $5.15 million

$14.17 million3 $2.69 million3 $7.35 million3

$7.25 million3 $7.25 million

$36.91 million $2.17 million $11.6 million

$6.12 million $9.04 million

$2.88 million3 $1.46 million3 $6.1 million3

$5.96 million3 $5.96 million

$2.71 million $3.47 million $5.7 million

$5.15 million $5.15 million

(604) 736-2957

BRITISH COLUMBIA

plannedgiving@rmhbc.ca www.rmhbc.ca 2011


Directory of contributors Contributor Advocis Vancouver BC Cancer Foundation BC Wildlife Federation

Contact Emel Tetiker Tracey Brown Magdalene Chan

Email info@advocisvancouver.ca tbrown3@bccancer.bc.ca dev_assistant@bcwf.bc.ca

Benefits By Design Inc (BBD) Boughton Law Corporation British Columbia Institute of Technology (BCIT) Bull, Housser & Tupper LLP Canada Life Canadian Cancer Society Canadian Diabetes Association Canuck Place Children’s Hospice

Mike McClenahan Maria Holman Crystal Montecalvo

mike.mcclenahan@bbd.ca mholman@boughton.ca Crystal_Montecalvo@bcit.ca

Carmen S. Thériault, Q.C. Lloyd Litke Toni Andreola Charlotte Lawson Christine Matheson

Phone 604-641-9657 604-877-6152 604-882-9988 or 1-888-881-2293 604-464-0313 604-687-6789 604-453-4090

Website www.advocisvancouver.ca www.bccancerfoundation.com www.bcwf.bc.ca

604-641-4937 604-443-8206 604-675-7112 604-732-1331 ext. 249 604-731-4847

www.bht.com www.canadalife.com www.cancer.ca www.diabetes.ca www.canuckplace.org

604-270-2802 604-714-0007 604-669-7256

www.cbsinc.ca www.contextplanning.com www.cooperators.ca

604-546-1100 1-800-685-7223 604-270-1142

www.covenant.ca www.desjardinsfinancialsecurity.com www.dupuislangen.com www.dupuislangen.com

www.bbd.ca www.boughton.ca www.bcit.ca/foundation

Covenant Family Wealth Advisors Desjardins Financial Security Dupuis Langen Financial Management Dupuis Langen Financial Management Empire Financial Group Freedom 55 Financial

Marlene Enns Sales Support Diane Dupuis

cst@bht.com lloyd_litke@canadalife.com tandreola@bc.cancer.ca charlotte.lawson@diabetes.ca christine.matheson@ canuckplace.org chris@cbsinc.ca info@contextplanning.com victoria_stebbings@ cooperators.ca info@covenant.ca marketingcomm@dsf.ca info@dupuislangen.com

Cindy David

info@dupuislangen.com

604-270-1142

Allison Barton Izumi Miki-McGruer

604-232-5557 www.empire.ca 604-985-6521 ext. 250 www.freedom55financial.com

Jim Doyle Last Door Recovery Society Nicola Wealth Management PPI Solutions (BC) Inc. Richards Buell Sutton LLP Ronald McDonald House BC Signet Financial Group Ltd. The Personnel Department Vancouver Foundation Variety The Children’s Charity of BC Zajac Ranch for Children ZLC Financial Group

Jim Doyle Nick Ringma John Nicola Warren Campbell Rick Montens Richard Pass Daniel Sember Sepideh Motamedi Craig Hikida Peter Chipman CFRE Carmen Zajac Mark Zlotnik and Jack Shaffer

allison.barton@empire.ca i.mikimcgruer@ freedom55financial.com jim.doyle@investorsgroup.com nick@lastdoor.org jnicola@nicolawealth.com wcampbell@ppi.ca rmontens@rbs.ca rpass@rmhbc.ca daniel@signetfinancial.com smotamedi@goodstaff.com info@vancouverfoundation.ca peter.chipman@variety.bc.ca info@zajac.com info@zlc.net

Complete Brokerage Services Chris Disalle Context Planning Keith Leech Cooperators Life Insurance Company Victoria Stebbings

604-682-5431 604-525-9771 604-739-6450 604-688-8909 604-661-9245 604-736-2957 604-682-9505 604-685-3530 604-688-2204 604-320-0505 604-739-0444 604-688-7208

www.jimdoyle.ca www.lastdoor.org www.nicolawealth.com www.ppiadvisory.ca www.rbs.ca www.rmhbc.ca www.signetfinancial.com www.goodstaff.com www.vancouverfoundation.ca www.variety.bc.ca/legacy www.zajacranch.com www.zlc.net

Your Benefit Solutions Partner

Helping Advisors Grow www.bbd.ca

2011

Charitable giving and business succession planning   Advocis  |  31


One generation plants the trees ...

another gets the shade

Advocis 2011  

Planning for your business

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